On Mar. 25, HK Treasury issued vision statement on sustainability.
HK Treasury issued a vision statement on developing HK's sustainability disclosure ecosystem, indicating the direction taken by the Government and financial regulators.
Follows HKMA Jan. 2024 announced key sustainable finance initiatives, see #197394.
Also follows HK SFC Mar. 2024 tool to identify green fintech solutions, see #205732.
Vision
Aims for Hong Kong to be among the first jurisdictions to align local sustainability disclosure requirements with IFRS sustainability disclosure standards (ISSB standards).
Government will adopt a holistic approach in developing local sustainability disclosure standards and a local sustainability disclosure ecosystem, with HK Institute of Certified Public Accountants taking on the role of sustainability reporting standard setter locally.
Standards are intended for cross-sectoral observance, with phased implementation.
Will promote sustainability assurance to enable credible implementation, enhance capacity building, and facilitate the use of technological solutions to enhance efficiency.
CE Speech
Chief Executive John Leespoke at the One Earth Summit, sharing the progress made in sustainability so far, future steps such as issuance of green bonds, green fintech.
Later in 2024, HKMA and Dubai Financial Services Authority will co-host a Joint Climate Finance Conference, spotlighting opportunities and challenges of transition financing.
