SFC welcomes Stock Exchange consultation on climate-related reporting requirements for listed companies

The Securities and Futures Commission of Hong Kong, SFC, has published a statement confirming its strong support of the recently launched consultation of the Hong Kong Exchanges and Clearing Limited, short HKEX, on proposed modifications to the ESG disclosure requirements of listed issuers (please see EventID 20823 in this context for a detailed description of the consultation).
According to the SFC, the consultation is a „major step towards aligning Hong Kong with the global baseline for climate-related reporting standards to be published by the International Sustainability Standards Board (ISSB)“. Furthermore, it will promote Hong Kong’s position as a „leading green and sustainable finance hub“ in Asia and beyond.
The proposed disclosure requirements, so the SFC, provide sufficient flexibility to issuers, but yet facilitate a high degree of comparability via standardization in line with the interest of investors. Speaking about investors, the Commission highly encourages investing entities and individuals to share their views on the proposed new disclosure requirements and submit a comment to the HKEX by July 14, 2023.