Hong Kong Exchanges & Clearing Ltd. · HKEX:388
Hong Kong Exchanges & Clearing — ESG Presentation (July 2023)
14 slides from Hong Kong Exchanges & Clearing's sustainability presentation, Jul 13, 2023
Slide 1: HKEX ESG Academy: ISSB's Pathway towards Global Sustainability Disclosure Standards
HKEX ESG Academy: ISSB's Pathway towards Global Sustainability Disclosure Standards 13 July 2023 By Teresa Ko
Slide 2: ISSB office opening in Beijing on 19 June
ISSB office opening in Beijing on 19 June 2
Slide 3: Launching S1 and S2 on 26 June 2023
Launching S1 and S2 on 26 June 2023 London Stock Exchange Similar launch events in Frankfurt, Johannesburg, Lagos, New York, Santiago de Chile, and Singapore 3
Slide 4: Building on investor-focused standards and frameworks
Building on investor-focused standards and frameworks 4
Slide 5: ISSB – intensely busy in the last 18 months
ISSB – intensely busy in the last 18 months 1,400+ Comment letters 36 10 30,000 Public meetings with participants worldwide 400+ ISSB staff papers ISSB board to discuss proposals outreach events Feedback from various strategic, advisory, consultative, jurisdictional and technical committees, forums
Slide 6: A few words on S1
A few words on S1 • Follows TCFD’s disclosure architecture (i.e. under governance, strategy, risk management, metrics and targets) • Requires disclosure of material information about ALL sustainability- related risks and opportunities in the short, medium or long term i.e. risks and opportunities th
Slide 7: S2 - Climate-related Disclosures
S2 - Climate-related Disclosures • To be used with S1 • Requires disclosure of material information about climate- related risks and opportunities • Incorporates TCFD recommendations • Requires disclosure of physical risks and transition risks • Provides illustrative guidance for industry-specific m
Slide 8: An example – cross-industry and industry-based metrics
An example – cross-industry and industry-based metrics • Consider time horizon • Scope 1-3 GHG emissions • Consider where risks and opportunities are • Climate-related transition risk concentrated • Climate-related physical risks • Consider effects of climate-related risks and • Climate-related oppo
Slide 9: Lots of help – S1 and S2 package of documents
Lots of help – S1 and S2 package of documents • IFRS S1 • IFSR S1 and IFSR S2 feedback • Basis for conclusions on IFRS S1 statement • Illustrative Guidance and Illustrative Examples on IFRS S1 • Video introducing the Standards • IFRS S1 webcast • IFRS S2 webcast • FAQ • IFRS S2 • Basis for conclusio
Slide 10: Making ISSB Standards the global baseline
Making ISSB Standards the global baseline Audit Market ISSB IOSCO standard- Jurisdictions participants setters provide assess Standards comprehensive enhance and require by voluntarily opt to with a view to global baseline develop assurance adopting the apply the recommend through standards Standard
Slide 11: Soundbites - reading Hong Kong sustainability disclosure
Soundbites - reading Hong Kong sustainability disclosure Wading through muck Easy to lose sight of what its all about Difficult to separate real disclosure from PR Unfinished business Can’t see the woods for the trees 11
Slide 12: Here is some of the how
Here is some of the how • Useful first steps include: – Get familiar with the concepts in S1 – Evaluate internal systems and processes to collect, aggregate and validate sustainability-related information across your company and its value chain – Think through sustainability-related risks and opport
Slide 13: ISSB's Pathway towards Global Sustainability Disclosure Standards
ISSB's Pathway towards Global Sustainability Disclosure Standards 13
Slide 14: Thank you
Thank you Freshfields waa Deringer “= 4
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