Hong Kong Stock Exchange Proposes Mandatory Disclosure Of Climate-related Risks in Listed Companies’ ESG Reports from 1 January 2024

The Stock Exchange of Hong Kong Limited (HKEX) recently published a consultation paper proposing to mandate all listed companies in Hong Kong to provide climate-related disclosure in their Environmental, Social and Governance (ESG) reports. The proposal is formulated with reference to the Climate Standard exposure draft published by the International Sustainability Standards Board and will be introduced as a new Part D of Appendix 27 to the Hong Kong Listing Rules.

The mandatory disclosure rules, if adopted, will come into effect and apply to ESG reports in respect of financial years commencing on or after 1 January 2024. A transition period of two years is proposed for certain (but not all) disclosures where interim provisions are in place. In other words, the first ESG report in full compliance with all the new climate-related disclosures will be produced in 2027 for financial years commencing on or after 1 January 2026.  

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