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TCFD Alignment of HKEX Disclosure with Exchange Releasing “Guidance on Climate Disclosure”
On 5 November 2021, the Hong Kong Stock Exchange published “Reporting on TCFD recommendations: Guidance on Climate Disclosures”. It is the first major step taken by Hong Kong following the announcing of the Green and Sustainable Finance Cross-Agency Steering Group that climate-related disclosures aligned to the TCFD recommendations will be mandatory across relevant sectors no later than 2025.
Listed Companies with Environmental Fines in China to Disclose Environmental Impacts
State-level environmental regulator Ministry of Ecology and Environment (MEE) released a new consultation paper on corporate environmental disclosures. The new measures involve more firms, including non-listed companies that have caused significant environmental impacts.
PBoC Bankrolls Clean Energy through Nationwide Banks
The People’s Bank of China launched its “Carbon Reduction Support Facility on 8 Nov 2021 to provide liquidity support for clean energy, energy saving and carbon reduction projects through nationwide financial institutions to accelerate China’s progress of reaching carbon peaking and carbon neutrality with the financial sector.
Administration Reveals Four Strategies that Make Hong Kong Climate-ready
Hong Kong took a big step forward in combating climate change on 8 October 2021 with their long-awaited “Climate Action Plan 2050” announced. Biomass is expected to raise the share of renewables in Hong Kong's electricity fuel mix in addition to wind and solar PV.
Differences in Sustainability Disclosure Requirements: Greater China Region
Mainland China: CSRC issues draft standards; Hong Kong: Aiming for higher reporting rates; Taiwan: TWSE Rules on Corporate Social Responsibility Reports
A Snapshot of Hong Kong’s Green Finance Actions
Stress Testing for Climate Risk; Adapting to TCFD Recommendations; Sustainable and Green Exchange
PBoC’s Approach to Assessing Green Finance Amid Carbon Neutrality Goal
Starting this July, China's central bank will consider degree of involvement in green finance when evaluating and rating domestic banks.
Laying the Groundwork for Carbon Neutrality: How the 14th Five-year Plan Sees Climate Change
Involving energy, manufacturing and finance, political support for tackling climate change is at all-time high in China upon the release of the 14th Five-year Plan. Find out how changes will happen and the policies behind them.
The EU Taxonomy and its Effects Beyond Europe
Implementation of EU ESG taxonomy in 2020 will set up clear and defined rules for entire region, which many asset managers in Asia and elsewhere will want to comply with.
Net Zero for Finance: How Disclosure will be under SFDR
FMPs and FAs in the EU are now required to make relevant disclosures if their products promote sustainable characteristics under the SFDR. How should they respond and how far will the EU go in pursuing sustainable finance?