Navigating the Future of Climate-Related Disclosures: Preparing for ISSB Compliance (13 May 2024)

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On 13 May, HKGFA co-hosted with CDP and Our Hong Kong Foundation the first seminar of the training series on “Navigating the Future of Climate-Related Disclosures: Preparing for ISSB Compliance”, which was designed to help prepare listed companies in Hong Kong for the forthcoming ISSB-aligned climate-related disclosure requirements mandated by HKEX.

This seminar was jointly presented by CDP and Our Hong Kong Foundation as an initiative by HKGFA Corporate Workstream under the Sustainability-related Disclosures, Policy and Standards Working Group.

Much credit and gratitude to our distinguished speakers who shared their strategies for tackling different challenges such as data accessibility and quality, technical knowledge, climate-related scenario analysis as well as quantification and disclosure of financial effects, etc.

It was also our great pleasure to hear from Mr. Zhengwei Zhang, Special Advisor to the Chair of ISSB and Director of Beijing Office, IFRS Foundation on ISSB standards overview, adoption progress across jurisdictions and the latest development.

Key takeaway of the seminar:

  • Enhanced climate-related disclosure can be a useful stocktaking process for you to analyse data and risk as well as identifying opportunities to review and upgrade business as you present the material issues to the board and investors
  • Get the right team and resources. Once you have numbers and scenarios, it is important to put up a roadmap to tell key stakeholders what you plan to achieve
  • HKEX has also taken into account different levels of readiness and resources of companies to roll out the implementation timeline by adopting a phased approach and introducing reliefs to support listed companies to meet the new requirements. Companies are highly encouraged to make use of the reliefs to cater for different circumstances of the companies and keep high level of transparency in the reporting process
  • Perfection is not the goal. It is common to not get the numbers right for the first time and data quality may not be good as well. However, accountability and transparency are the key
  • Foster collaboration with suppliers and set up a very clear communication channels with them using technology

The seminar also highlighted a number of tools provided by the Green and Sustainable Finance Cross-Agency Steering Group (CASG) in collaboration with different organisations to help corporates start their reporting journey through enhancing data availability and understanding of the impact of climate change. Check out the resources link: https://www.sustainablefinance.org.hk/en/data-technology

Watch Event replay here: https://www.youtube.com/watch?v=lNpxWbwbBek

Speakers:

Tsun Chen (HKGFA) | Dennis Wan (CDP) | Kenny Shui (Our Hong Kong Foundation) | Zhengwei Zhang (ISSB/IFRS) | Kelly Lee (HKEX) | Yvonne Kam (PwC) | Grace Kwok (AEC) | Casey Ho (Shangri-la)

Special thanks to our co-organisers and supporting organisations:

HKGFA | CDP | Our Hong Kong Foundation | HKEX | HKGCC| HKIRA | HKPC | HKTDC | The Chamber of Hong Kong Listed Companies

联系我们

HKGFA 地址
香港中环皇后大道中9号2405室
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info@hkgreenfinance.org
HKGFA 电话
(+852) 3579 4391