Hong Kong regulators release new online disclosure tools for companies

February 27, 2024|Written by Katy Lee|Securities and Futures Commission of Hong Kong, Hong Kong Monetary Authority

Hong Kong’s financial regulators have released new online tools aimed at making sustainability disclosures easier for banks and smaller companies based in the financial hub.

The tools have been made available via the revamped website of the Green and Sustainable Finance Cross-Agency Steering Group (CASG), which is co-chaired by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission.

They include a sustainability disclosure portal which digitalises a climate and environmental risk questionnaire that the CASG created in 2022 in collaboration with the Carbon Disclosure Project, as a template for small and medium-sized companies to get started in sustainability reporting.

The new website also includes two tools developed with the Hong Kong University of Science and Technology to aid banks and companies with the calculation of greenhouse gas (GHG) emissions, the HKMA said in a statement.

“The calculation tool enables users, especially small and medium-sized enterprises, to calculate their GHG emissions based on actual activity levels,” the HKMA said. “The estimation tool enables users, primarily financial institutions, to estimate the GHG emissions associated with their investments or loans where data of underlying companies is limited.”

The CASG was set up in 2020 as part of efforts to accelerate the growth of green finance in Hong Kong and coordinate the management of environmental risks across the sector.

The HKMA last year unveiled a set of principles for banks in the Asian financial hub to prepare for the transition towards a net-zero economy.

This page was last updated February 27, 2024

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