In this report, Mayer Brown and Sedgwick Richardson share the results of our recent survey about sustainable asset management in Asia.
As interest in sustainability continues to grow worldwide, much of the focus has been on Europe and the United States. From the explosive growth of flows into funds classified as Article 8 or 9
This report provides crucial insights into the evolving landscape of ESG and sustainability-related regulations, practices and challenges facing the private equity industry in Asia, and tracks the ESG and sustainability journeys of private equity (PE) fund managers. Continue Reading Sustainable Private Equity in Asia: Through the Lenses of Compliance, Strategy and Branding
On February 17, 2023, the Securities Commission Malaysia (“SC”) published the revised Guidelines on Sustainable and Responsible Investment Funds (“Guidelines”) setting out the reporting and disclosure requirements for a fund to qualify as a Sustainable and Responsible Investment (“SRI”) Fund and, under a new chapter added to the Guidelines, an ASEAN Sustainable and Responsible Fund (“SRF”). The amendments revise the first version of the Guidelines issued in December 2017 and are effective on the date of issuance.Continue Reading Securities Commission Malaysia Publishes Revised Guidelines on Sustainable and Responsible Investment Funds
In the Hong Kong government’s 2023-2024 budget, the Financial Secretary, the Hon Paul MP Chan, unveiled various measures to bolster Hong Kong’s economy following the Covid-19 epidemic, with a strong focus on promoting green and sustainable finance and technology and advancing the virtual assets sector (also reported here).
The following initiatives were announced
On January 15, 2023, South Korea’s Financial Supervisory Service (“FSS”) issued new guidelines (the “Guidelines”) (Korean language only) to enhance transparency on the methods and procedures used by credit rating agencies to perform ESG bond certification evaluations. In announcing the Guidelines, the FSS noted that, prior to their introduction, there were
On 20 December 2022, the Green and Sustainable Finance Cross-Agency Steering Group (the “Steering Group”) co-chaired by the Hong Kong Monetary Authority (“HKMA”) and the Securities and Futures Commission (“SFC”) announced that it has entered into a collaboration arrangement with CDP, an international non-profit organisation that runs the global environmental disclosure system for companies, cities, states and regions.Continue Reading HKMA and SFC Cross-Agency Steering Group Announces Collaboration with CDP to Facilitate Climate-Related Risk Disclosures by Small and Medium Enterprises
The Hong Kong Monetary Authority (“HKMA”) released a research report last week showing evidence that about one-third of global corporate green bond issuers are reaping the benefits of issuing green bonds without cutting down their greenhouse gas (“GHG”) emissions. This type of ‘greenwashing’ behaviour impedes progress on combating climate change and
Singapore recently launched two ESG initiatives to accelerate the growth of a “vibrant and robust” ESG ecosystem in the city state. The ESG Impact Hub (Hub) and ESGenome were launched on 5 October 2022 and 12 September 2022, respectively.
ESG Impact Hub
Located in Singapore’s central business district, the Hub seeks to
On 25 August, 2022, the Australasian Centre for Corporate Responsibility (“ACCR”) expanded its case against the Australian gas company, Santos Ltd. (“Santos”), with new and more detailed allegations around greenwashing.
Last year, ACCR filed a consumer protection lawsuit with the Federal Court of Australia regarding certain misleading or deceptive statements Santos
**A Chinese version of this blog post follows the English version.**
China’s State Council-backed think tank, China Enterprise Reform and Development Society (“CERDS“), alongside a number of major Chinese companies including Ping An Insurance Company, issued “The Guidance for Enterprise ESG Disclosure” effective on 1 June 2022 (“Guidance“). The Guidance is China’s first ESG disclosure guideline, and covers all companies and industries. It follows the environmental disclosure rules issued by China’s Ministry of Ecology and Environment (MEE) which came into effect earlier in February 2022 (which we reported here).Continue Reading China issues first ESG disclosure guidance: international guidelines with Chinese characteristics