Climate Change Reporting: Imminent, Challenging & Mandatory – The Opening Moves, is a report co-authored with The Hong Kong Chartered Governance Institute (HKCGI) and CLP Holdings Limited (CLP) on emerging international climate reporting standards.
The International Sustainability Standards Board (ISSB BoardTM) is expected to finalise two sustainability reporting standards by the end of 2022. In Hong Kong, the Green and Sustainable Finance Cross-Agency Steering Group has expressed its support for adopting these standards, while the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) are also engaging with industry practitioners on how to best apply the ISSB Board’s proposed requirements.
It is expected that reporting under the ISSB Board’s standards will become mandatory for listed companies. This publication looks at the key challenges that companies may face in adopting the ISSB Board’s standards and highlights five key focus areas that companies in Hong Kong need to consider when implementing the proposed climate reporting regime.
As regulators and investors are increasingly demanding transparency on how businesses deliver on climate goals and address climate-related issues, companies should adopt a strategic lens and ensure their climate reporting serves as an appropriate risk mitigation.
Wei Lin
Partner, Head of Environmental, Social and Governance
KPMG China
Patrick Chu
Partner, National Head of ESG Reporting and Assurance
KPMG China
Pat Woo
Partner, Head of ESG, Hong Kong
Global Co-Chair, Sustainable Finance, KPMG IMPACT
KPMG China
Eddie Ng
Partner, Business Reporting and Sustainability
KPMG China
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