Hong Kong, Singapore, Shanghai
The HKEX recently published the Consultation Conclusion and Implementation Guidelines, GreenCo is eager to assist companies and their management in alleviating stress by providing a concise overview of the forthcoming regulatory enhancements.
Hong Kong's MSW Charing Scheme will take effect from 1 April 2024. This going to bring significant impacts on businesses, especially for the Food & Beverage (F&B) industry. The F&B companies could collaborate with professional consultants to establish effective tailored waste management strategies.
On 14 April 2023, the Stock Exchange of Hong Kong Limited (“the Exchange”) under the Hong Kong Exchanges and Clearing Limited (“HKEX”) published a consultation paper seeking market feedback on proposals to enhance climate-related disclosures under the Environmental, Social and Governance (“ESG”) framework. The Exchange proposes to mandate all issuers to make climate-related disclosures in their ESG reports, and introduce new climate-related disclosures aligned with the International Sustainability Standards Board (“ISSB”) Climate Standard. With the proposed effective date of 1 January 2024, the interim provisions (shorter or simpler version) of certain disclosures are proposed for the first two reporting years following the effective day.
GreenCo published an Interpretation of the PCAF for Large Fund Managers in response to the upgrade of climate-risk management requirements announced by the SFC in August 2021.
GreenCo published a Navigating Roadmap on Disclosure of Climate Risk Management based on the "Guidance on Climate Disclosures" published by the HKEx on 5 November 2021.
GreenCo has recently launched a brand-new ESG advisory package for companies planning an IPO, in which it supports all IPO applicants looking for compliance and excellence in ESG management with recommended planning and preparation measures.
GreenCo has introduced new digital assessment and management tools to respond to the megatrend of sustainable funds.
The new ESG requirements announced on 18 December 2019 as part of the HKEX’s consultation conclusions on review of the ESG reporting guide and related listing rules apply to HK-listed companies with financial years commencing on or after 1 July 2020.
On May 29, 2020, the People's Bank of China, the National Development and Reform Commission, and the China Securities Regulatory Commission solicited public opinions on the drafting of the "Catalogue of Green Bond Endorsed Projects (2020 Edition)". The new Catalogue is of paramount importance to the sustainable economic and social development, and industrial green transformation and upgrading.
In order to promote the development of green industries, the General Office of the National Development and Reform Commission recently issued the "Notice on Organising the Construction of Green Industry Demonstration Bases." The notice proposes that a group of industrial parks will be selected for the construction of green industry demonstration bases. It is aimed that, by 2025, the construction of green industry demonstration bases will make phased progress and cultivate a group of leading green industry enterprises.
