Zhi Tong Cai Jing·2026-01-27 12:15Core Viewpoint - The report by Bank of China Hong Kong and Deloitte China emphasizes the transition of the gold industry from "responsible gold" to "sustainable gold," highlighting the need for a sustainable gold standard system and governance framework in Hong Kong [1][2]. Group 1: Industry Challenges and Transition - The gold industry has been facing challenges related to carbon emissions, environmental pollution, and labor rights, which fall under the Environmental, Social, and Governance (ESG) criteria [1]. - Historically, the industry focused on ESG risk management in gold mining and refining to ensure legal sourcing and minimize environmental and community impacts [1]. - With the rise of global green finance and sustainable investment, the governance concept in the gold industry is shifting from risk management to value creation, aiming for comprehensive sustainable development and long-term prosperity [1]. Group 2: Recommendations and Framework - The report discusses the core concepts of transitioning from "responsible gold" to "sustainable gold," analyzing the necessity and core elements for establishing a locally relevant and internationally aligned sustainable gold standard system in Hong Kong [2]. - It proposes several action recommendations, including a layered standard-setting mechanism, the creation of a credible third-party certification system, the establishment of industry alliances, and the introduction of innovative financial instruments [2]. - Bank of China Hong Kong aims to enhance its role as a global gold trading hub by expanding physical gold storage facilities and improving market infrastructure [2]. Group 3: Hong Kong's Role and Future Outlook - Hong Kong is positioned as a key bridge connecting mainland China and the world, with unique potential to integrate international standards with local practices in the gold market [2]. - The report aims to provide new ideas and frameworks for the sustainable development of Hong Kong's gold market, injecting more Asian perspectives into the global gold governance system [2]. - Bank of China Hong Kong will continue to leverage its strengths to promote Hong Kong as a global sustainable finance center, further solidifying its status as an international financial hub [2].