HKEX Publishes Conclusions on Climate Disclosure Requirements on 19 April 2024

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The Hong Kong Exchanges and Clearing Limited (HKEX) published its conclusions to the consultation on enhanced climate-related disclosure requirements on 19 April 2024. In view of the broad-based support for its proposals from respondents and the HKSARG’s vision towards developing a comprehensive ecosystem for sustainability disclosure in Hong Kong, the enhanced requirement will make reporting framework more consistent with the International Sustainability Standards Board (ISSB) guidelines.

Key highlights:

  • The Exchange will modify its proposals to reflect IFRS S2 Climate-related Disclosures (IFRS S2) more closely.
  • Implementation reliefs including proportionality and scaling-in measures are introduced to address concerns over the reporting challenges that some issuers may face.
  • The amended Listing Rules will come into effect on 1 January 2025. A phased approach is adopted for the implementation of the New Climate Requirements.

Full press release: https://www.hkex.com.hk/News/Regulatory-Announcements/2024/240419news?sc_lang=en

HKGFA will continue to work closely with the Sustainability-related Disclosures, Policy and Standards Working Group and its Corporate Workstream to build capacity for listed companies and corporates in Hong Kong to better prepare for compliance with the New Climate Requirements. Stay tuned for our upcoming seminar in May and contact info@hkgreenfinance.org if you are interested to join the community to learn more.

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