Mr. Jonathan Drew, HKGFA Vice President and Banking – Financing the Transition Working Group Co-chair, also the Head of Global Banking Sustainability for Asia-Pacific at HSBC, joined the Redefining Hong Kong event hosted by the South China Morning Post SCMP on 29th June 2023. The panel, on the topic of “Can businesses halve emissions by 2030 and solve the climate crisis with a proper action plan and green finance?”, discussed the need for Hong Kong to elevate its role as a green finance hub.
Jonathan underlined that “we need to make sure that we have the robust regulations, the robust requirements, for good disclosure,” On the other hand, “[This] is a challenge in making sure we get our fair share [of the green finance market].”
The panel highlighted the urgency for Hong Kong to increase transparency and accountability on climate disclosure and reporting to secure our position as an international green finance hub. The panel also agreed that the disclosure and reporting gaps will require immediate attention and action.
Read more about the event from SCMP website: https://www.scmp.com/business/banking-finance/article/3225966/climate-disclosures-hong-kong-must-its-game-sustainability-elevate-its-role-green-finance-hub?utm_source=copy_link&utm_medium=share_widget&utm_campaign=3225966
International Sustainability Standards Board (ISSB) has issued on 26 June its inaugural standards – IFRS S1 and IFRS S2 – ushering in a new era of sustainability-related disclosures in capital markets worldwide. HKGFA’s Working Groups will be committed to driving more discussion on how we can leverage the new standards to improve trust and confidence in company disclosures about sustainability to inform investment decisions.
Read more: https://lnkd.in/eu9zjxMf