Monday April 22 2024
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Hong Kong
On 19th April 2024, the Securities and Futures Commission (SFC) supported the Stock Exchange of Hong Kong Limited’s (SEHK) publication of its consultation conclusions on the enhancement of climate-related disclosure requirements for listed companies in Hong Kong.
The new climate-related disclosure requirements, which will be implemented in phases starting from 1 January 2025, is the first step to align local sustainability disclosure requirements with the IFRS Sustainability Disclosure Standards published by the International Sustainability Standards Board (ISSB), as part of Hong Kong’s overall strategy to develop a comprehensive sustainability disclosure ecosystem. SEHK has also published an Implementation Guidance to assist listed companies in complying with the new requirements.
To achieve the goal of introducing ISSB-aligned Hong Kong sustainability reporting standards, the SFC will continue to work closely with the Government, SEHK, and other relevant stakeholders to provide a transparent and well-defined pathway on sustainability reporting for businesses.
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