HKGFA Consultation Workshop on ESG Disclosure in China

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UNEP Financial Initiative, PRI, SynTao Green Finance, HKGFA Consultation Workshop on ESG Disclosure in China

The Hong Kong Green Finance Association (HKGFA) co-organised a Consultation Workshop with the United Nations Environmental Programme – Financial Initiative (UNEP FI), and Principles for Responsible Investment (PRI), on the Development of Corporate and Investor ESG Disclosure in China, on December 3, 2018 in Hong Kong. As the China Securities Regulatory Commission is spearheading the initiative to develop an ESG disclosure framework, the consultation workshop aimed to collect inputs from market participants to help foster the development of a framework that facilitates the integration of financially material ESG issues into the investment decision making process.

The Consultation Workshop was supported by the ESG Disclosure and the Integration Working Group. Representatives from banks, investment management companies, service providers and research institutions shared their views, observations and experiences from different markets. In addition, they also put forward ideas and suggestions regarding key features of a robust ESG disclosure framework, such as taxonomy and data comparability and reliability. Participants also shared the challenges they have encountered and envisage and expressed the desire to see a transparent, consistent and standardized ESG disclosure framework that would be in line with international standards, taking into account the characteristics of the China market.

The event was organised as part of an ongoing research project by the PRI, UNEP FI and SynTao Green Finance on ESG disclosure and sustainable investment in China, funded by the UK government. The ESG Disclosure and Integration Working Group of HKGFA will continue to work closely with the project team to contribute to this work. The findings of the research will be reported to the China regulatory authority to facilitate the development of a robust environment to facilitate corporate and investor ESG disclosure. In the meantime, HKGFA will continue its efforts in acting as a bridge between the regulatory authorities and asset managers, asset owners, listed companies and other related parties in the value chain so as to further foster green and sustainable development in the region.

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