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The inaugural International Sustainability Standards Board (“ISSB“) sustainability disclosure standards, namely IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) (the “ISSB Standards“), have received positive feedback from stakeholders across the globe since its issuance on 26 June 2023 (which we reported here). This includes endorsement by the International Organization of Securities Commissions (IOSCO) on 25 July 2023.

The long-awaited ISSB Standards are intended to serve as a global baseline for transparent, reliable and comparable corporate disclosure of climate and sustainability-related information, and will help to inform investment decisions. In this blog post, we summarise several Asian regulators’ responses to the ISSB Standards which have been positive.  …

Continue Reading Asia Regulators’ Responses to the ISSB Disclosure Standards

China - Hong Kong

On November 25, 2022, the Stock Exchange of Hong Kong Limited (SEHK) published a report on its analysis of ESG practice disclosure in Hong Kong (the Report). The Report sets out the SEHK’s findings of their review of compliance by Hong Kong issuers of the new ESG requirements implemented in July 2020, which focused on board governance, climate change, and other ESG issues (2020 Enhancements). We reported here on the related amendments to the SEHK’s Corporate Governance Code and the Listing Rules addressing the link between ESG and good corporate governance, ESG reporting and gender diversity.…

Continue Reading Analysis of ESG Practice Disclosure by Hong Kong Stock Exchange

China - Hong Kong

“Delivering effective corporate governance practices and ESG measures is more than a box-ticking exercise. The change needs to begin with a shift of mindset at the top of the organisations.” – SEHK, December 2021

On December 10, 2021, the Stock Exchange of Hong Kong Limited (SEHK) published the conclusions from its April 2021 consultation on amendments to the SEHK’s Corporate Governance Code (the Code) and Listing Rules intended to promote good corporate governance practices among listed companies and IPO applicants. The final amendments address a range of topics that could significantly change the way that the boards of covered entities operate, including with respect to gender diversity, ESG reporting timelines and the role that ESG plays in corporate governance structures and processes.

In this Blog Post, we highlight final amendments to the Code and the Listing Rules addressing the link between ESG and good corporate governance, ESG reporting and gender diversity at both the board and workforce levels.…

Continue Reading ESG and Gender Diversity Requirements Finalized for Listed Companies and IPO Applicants in Hong Kong