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Presentation to ReThink HK 2023, Hong Kong

Jamie Allen, ACGA Secretary General, gave a presentation titled “The ISSB & How Asia Comes into Play” and moderated a panel discussion on “The Shifting Landscape of ESG Reporting: Navigating Risk and Performance Outcomes” at the ReThink HK on 15 September 2023.

Synopsis:

The ISSB & How Asia Comes into Play
At COP26 the International Financial Reporting Standards (IFRS) Foundation announced the creation of the International Sustainability Standards Board (ISSB), with the aim of providing a comprehensive global baseline of high-quality sustainability disclosure standards focused on enterprise value.

Two years on, what has been done and what is yet to come? How does Hong Kong and Asia come into play?

The Shifting Landscape of ESG Reporting: Navigating Risk and Performance Outcomes
As the demand on companies to make greater efforts towards sustainability and decarbonisation increase, more organisations are making sustainability commitments and looking to showcase their ESG credentials. ESG reporting has become a mandatory requirement for companies to disclose their sustainability commitments and seen by many as a way to hold companies accountable to these commitments. However, given varying voluntary ESG reporting standards, firms have often struggled with understanding ESG frameworks and demonstrating sustainable ESG integration.

The International Sustainability Standards Board (ISSB) has been tasked to consolidate ESG reporting standards in Hong Kong and issue a finalised set of ESG reporting standards which will be mandatory for all HKEX listed companies. Aimed at steering corporate focus decisively towards sustainability and long-term value, ISSB and HKEX have proposed tougher climate and sustainability disclosures beginning from January 2024. Discussing the new disclosure rules and sharing successfully enacted models for sustainable business growth, this panel aims to introduce the new HKEX ESG reporting guidelines and share successfully enacted models for reporting.

For more information, please visit ReThink’s website.