Hong Kong Exchange to Require IFRS-based Climate Disclosure Beginning 2025

The Stock Exchange of Hong Kong has announced that all listed companies will be mandated to provide climate-related disclosures based on the new reporting standards set by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The requirements will begin with Scope 1 and 2 emissions disclosure from the 2025 reporting year. This decision comes after receiving significant support for the proposals during a consultation process. Hong Kong Exchanges and Clearing Limited (HKEX) aims to enhance the attractiveness and competitiveness of Hong Kong’s capital markets by implementing the new climate requirements as part of its broader roadmap for adopting the ISSB Standards. The phased approach and implementation reliefs are designed to support listed companies in meeting the new requirements without excessive burden and within a reasonable timeframe. Resources: https://www.esgtoday.com/hong-kong-exchange-to-require-ifrs-based-climate-disclosure-beginning-2025/