Hong Kong commits to aligning local sustainability disclosure requirements with the ISSB standards

The Hong Kong Financial Services and Treasury Bureau (FSTB) has set out a vision and approach of the Gov­ern­ment and financial reg­u­la­tors for de­vel­op­ing a sus­tain­abil­ity dis­clo­sure ecosystem in Hong Kong. In the statement, the FSTB commits to aligning the local sus­tain­abil­ity dis­clo­sure re­quire­ments with the ISSB standards.

The vision statement follows a public com­mit­ment from the Hong Kong Gov­ern­ment in October 2023 to develop a roadmap for the adoption of the ISSB standards. In the vision statement, the FSTB proposes a holistic approach in de­vel­op­ing the Hong Kong sus­tain­abil­ity dis­clo­sure standards, including the following key features:

• Coverage of all financial services sub-sec­tors

• Phased im­ple­men­ta­tion

• Sus­tain­abil­ity assurance to enable credible im­ple­men­ta­tion

• Capacity building to support the industry and companies

• Use of tech­no­log­i­cal solutions, including a Climate and en­vi

…