Forbes on Nostr: Hong Kong Stock Exchange Announces Climate Disclosure Requirements For 2025 ...
Hong Kong Stock Exchange Announces Climate Disclosure Requirements For 2025
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The Stock Exchange of Hong Kong Limited announced the adoption of climate-related disclosures under its environmental, social, and governance framework. The new regulations will require the disclosure of Scope 1 and Scope 2 greenhouse gas emissions starting January 1, 2025. The International Financial Reporting Standards Foundation created the International Sustainability Standards Board, which released the IFRS Sustainability Standards in June 2023. The IFRS Sustainability Standards are divided into two reporting tiers, IFRS S1 and IFRS S2, both of which went into effect on January 1, 2024. The HKEX New Climate Requirements, based on IFRS S2, will include mandatory disclosure of Scope 1 and Scope 2 GHG emissions starting January 1, 2025. Scope 3 disclosure will be optional for LargeCap Issuers in 2025 and become mandatory on January 1, 2026. The EU's European Sustainability Reporting Standards require Scope 3 for all reporting entities, while the U.S. SEC's Climate-Related Disclosure Rule made Scope 3 optional based on a materiality assessment.
#HongKongStockExchange #ClimateDisclosure #IfrsSustainabilityStandards #Scope1 #Scope2 #Scope3 #Esrs #SecClimaterelatedDisclosureRule
https://www.forbes.com/sites/jonmcgowan/2024/04/26/hong-kong-stock-exchange-announces-climate-disclosure-requirements-for-2025/
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The Stock Exchange of Hong Kong Limited announced the adoption of climate-related disclosures under its environmental, social, and governance framework. The new regulations will require the disclosure of Scope 1 and Scope 2 greenhouse gas emissions starting January 1, 2025. The International Financial Reporting Standards Foundation created the International Sustainability Standards Board, which released the IFRS Sustainability Standards in June 2023. The IFRS Sustainability Standards are divided into two reporting tiers, IFRS S1 and IFRS S2, both of which went into effect on January 1, 2024. The HKEX New Climate Requirements, based on IFRS S2, will include mandatory disclosure of Scope 1 and Scope 2 GHG emissions starting January 1, 2025. Scope 3 disclosure will be optional for LargeCap Issuers in 2025 and become mandatory on January 1, 2026. The EU's European Sustainability Reporting Standards require Scope 3 for all reporting entities, while the U.S. SEC's Climate-Related Disclosure Rule made Scope 3 optional based on a materiality assessment.
#HongKongStockExchange #ClimateDisclosure #IfrsSustainabilityStandards #Scope1 #Scope2 #Scope3 #Esrs #SecClimaterelatedDisclosureRule
https://www.forbes.com/sites/jonmcgowan/2024/04/26/hong-kong-stock-exchange-announces-climate-disclosure-requirements-for-2025/