With regard to the strategic plan launched by the Cross-Agency Steering Group, the Hong Kong Federation of Insurers (HKFI) responds as follows:-

• HKFI and the insurance industry are supportive of a green and sustainable finance strategy for HK.

• We have set up a dedicated task force to look at the subject from four dimensions, namely, benchmark for disclosure, fostering a culture on green and ESG, green products development and engagement with stakeholders.

• The task force will look into various aspects on green insurance, such as how to encourage / request climate-related disclosure from insured companies to help promote the flow of climate-related information for facilitating risk management, capital allocation and investor protection.

• We will work closely with the Insurance Authority and other relevant bodies to achieve the objectives of the task force and help move the green initiatives forward.