Indicating the support for the Hong Kong’s Climate Action Plan 2050, the Green and Sustainable Finance Cross-Agency Steering Group has announced that climate-related disclosures aligned with Task Force on Climate-Related Financial Disclosures (TCFD) recommendations will be mandatory no later than 2025. GreenCo recently supported one of its clients, a licensed bank in Hong Kong, to improve its methodology of materiality assessment and effectively identify material climate-related risks and opportunities along with their potential impacts in preparation for the latest ESG Report in alignment with TCFD recommendations.

GreenCo is glad to assist its clients to be well-prepared for the potential enhancements in reporting requirements, such as new standards, by staying aligned with the Stock Exchange of Hong Kong’s guidance in their latest reports. We believe identifying material ESG issues, thus making climate-related disclosures appropriately is vital to reducing carbon emissions and progress towards a carbon-neutral future.