Interest in ESG investing continues to attract attention globally as policymakers and regulators around the world implement policies and regulations to direct or guide behavior and protect the interests of a wide range of stakeholders. Against this backdrop, we observe a rising challenge to so-called “woke capitalism”, particularly with the recent wave of anti-ESG sentiment
On October 12, 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”) launched the Sustainable Finance Internship Initiative (the “Initiative”). The Initiative aims to create more internship opportunities in
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.**
On 19 August 2022, the National Development and Reform Commission (“NDRC”), the National Bureau of Statistics (“NBS”), and the Ministry of Ecology and Environment (“MEE“) of the People’s Republic of China (“PRC”) jointly issued the “Implementation Plan on Accelerating the Establishment of a Unified and Standardised Carbon Emission Statistical Accounting System (the “System”)” (the “Plan“).
Continue Reading China Issues a Plan to Establish a Carbon Emission Statistical Accounting System
In response to known challenges concerning ESG evaluation and data provision, including transparency and fairness of evaluation, and the expanding role of organizations which provide these services, Japan has compiled a draft Code of Conduct for ESG Evaluation and Data Providers. The draft Code was published in July 2022 and can be read here.
**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).
On 3 August 2022, Australia’s Financial Services Council (“FSC“) published FSC Guidance Note No 44 Climate Risk Disclosure in Investment Management (“Guidance Note”) to provide a set of common baseline expectations for the investment management industry’s approach with respect to net-zero commitments, disclosure of climate-friendly investment features and climate change risk reporting.
On July 28, 2022, the Monetary Authority of Singapore (the “MAS“) published a circular (the “Circular”) on new disclosure and reporting guidelines for retail ESG funds in Singapore. The Circular was published alongside a Sustainability Report 2021/2022 issued by MAS and coincides with the issuance of Singapore’s first green bond (which was
In our blog post here, we discussed the amendments to the Stock Exchange of Hong Kong Limited’s (SEHK) Corporate Governance Code and Listing Rules, which prohibit single-gender boards among listed companies and IPO applicants in Hong Kong, effective from January 1, 2022. Existing issuers with single-gender boards will have a three-year transition period to