Hong Kong’s regulators plan to make Taskforce on Climate-Related Financial Disclosures (TCFD) reporting mandatory for relevant sectors by no later than 2025. Companies will need to report how they will fare under different scenarios 10 or more years in the future. Auditors will need to assure this reporting. This will not be easy. Companies affected will need several years to prepare. The event will be held on 7th June (Mon) 5 pm – 6 pm (GMT+8) online.
Lois Guthrie will present the work WBCSD is doing with TCFD on developing scenarios for TCFD reporting.
The HKMA launched a pilot stress testing exercise at the start of the year where participating banks need to assess climate risks under different scenarios. Frank Leung will comment on how this has gone so far and what has been learnt.
The panel will then discuss the following points and take questions from the audience
- How companies will need to report against future climate change scenarios.
- The extent to which reporting against the scenarios can inform decision-making.