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The Hong Kong Green Market Briefing 2023, published by the Climate Bonds Initiative, provides a comprehensive analysis of the sustainable debt market in Hong Kong as of December 31, 2023. The report highlights a significant surge in aligned GSS+ debt originating from the HKSAR, driven primarily by government green bond issuance, and examines the role of the Hong Kong Stock Exchange (HKEX) and the Common Ground Taxonomy (CGT) in connecting Chinese and international capital.

The Hong Kong Green Market Briefing 2022, published by the Climate Bonds Initiative, analyzes the green, social, sustainability, transition, and sustainability-linked debt (GSS+) market in Hong Kong for 2022. It highlights a decline in GSS+ bond volumes from Hong Kong issuers amid macroeconomic challenges, while noting significant growth in GSS+ debt arranged and issued within the territory, particularly in the loan market. The report emphasizes the HKSAR Government's leadership in sovereign green bond issuance in the Asia Pacific region and Hong Kong's role as a primary offshore financing hub for Mainland China's green transition.

The Hong Kong Green Bond Market Briefing 2020 provides an analysis of green bond and loan activity in Hong Kong for the year 2020, detailing issuance volumes, sector allocations, and the broader sustainable finance ecosystem including the Greater Bay Area.

The Hong Kong green bond market grew significantly in 2018, reaching USD2.3bn in issuance from local entities and USD11bn total when including non-local entities. Growth is driven by government incentives, such as the HKD100bn sovereign green bond programme and the Green Bond Grant Scheme. Low-carbon buildings are the primary allocation target (37%), and the market is heavily supported by external reviews and the use of US dollars. Hong Kong serves as a critical hub for mainland Chinese issuers, who accounted for 64% of the total market in 2018.

Suntien Green Energy issued a CNY590m (USD93m) perpetuity green bond on 13-Mar-2018 to finance or refinance 15 wind farms in China. The Climate Bonds Initiative highlighted the issuance as a positive example of disclosure, noting its alignment with the 2oC global warming target and the provision of specific impact data, such as a 200MW project in Hebei province expected to avoid 1010k tons of CO2.