On August 31, 2012 the Stock Exchange of Hong Kong Ltd. (Hong Kong Stock Exchange) published consultation conclusions on its environmental, social and governance reporting guide.
The Hong Kong Stock Exchange published a consultation paper on December 9, 2011 to seek comments on its proposed Environmental, Social and Governance, or ESG, Reporting Guide (the Guide) for companies listed in Hong Kong. 106 comments were submitted, from a range of stakeholders. The consultation period ended on April 9, 2012.
Following its review of the comments, the Hong Kong Stock Exchange decided to implement the Guide.
“We note the growing importance of ESG performance and reporting globally. This trend will affect how issuers do business and report. We consider that companies listed on the Exchange should be aware of these developments,” said Mark Dickens, Head of Listing of the Hong Kong Exchange. “We hope the Guide will help issuers start reporting and serve as a first step towards adopting international practices. We encourage issuers to follow international guidelines.”
The Guide will be a recommended practice. It will apply to issuers with financial years ending after 31 December 2012.
To read the press release issued by the Hong Kong Stock Exchange, please click here.