The International Sustainability Standards Board (ISSB) has published the IFRS Sustainability Disclosure Standards, which provide a global framework for sustainability disclosures relevant to investors. The Securities and Futures Commission (SFC) has welcomed the endorsement of these standards by the International Organization of Securities Commissions (IOSCO), which encourages its member securities regulators to adopt, apply or reference the standards in addressing sustainability-related risks and opportunities. In Hong Kong, the SFC will collaborate with relevant government bureaux, financial regulators, and the Stock Exchange of Hong Kong Limited (SEHK) to develop a roadmap for adopting the ISSB standards. The SEHK has proposed disclosure requirements for listed companies that refer to the ISSB’s draft for climate-related disclosures, and the final requirements will consider consultation responses and the ISSB’s final standards. To seize opportunities in transition finance, the SFC’s Chief Executive Officer, Ms. Julia Leung, believes that Hong Kong’s financial institutions and corporate customers must align their sustainability disclosures with this global framework.
Endorsement:
https://www.iosco.org/news/pdf/IOSCONEWS703.pdf
Resource:
https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR81