【ESG News】Global Trends Biweekly Newsletter Issue 7 (2024.5.6-2024.5.17)

Hong Kong China ESG trends

SFC welcomes industry-led public consultation on voluntary code of conduct for ESG ratings and data products providers

The Securities and Futures Commission (SFC) welcomes the launch of a public consultation today by an industry-led working group on a voluntary code of conduct (VCoC) for environmental, social and governance (ESG) ratings and data products providers providing products and services in Hong Kong. The initiative to develop the proposed VCoC is supported and sponsored by the SFC. Led by the International Capital Market Association (ICMA), the Hong Kong ESG Ratings and Data Products Providers VCoC Working Group (VCWG) modelled the draft VCoC on international best practices recommended by the International Organization of Securities Commissions (IOSCO). The one-month public consultation will end on 17 June 2024.

Source: SFC (https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR89)  

International ESG trends

EU Issues New Rules for Funds Using “ESG” or “Sustainability” Names to Address Greenwashing Risk

EU markets regulator the European Securities and Markets Authority (ESMA) announced today the release of its finalized guidelines for the use of ESG and sustainability-related terms in investment fund names, including investment thresholds required for sustainable investment funds, and the establishment of a transition category for investments that are not yet green, but are on a positive trajectory towards achieving environmental sustainability goals.

Source:  ESG Today (https://www.esgtoday.com/eu-issues-new-rules-for-funds-using-esg-or-sustainability-names-to-address-greenwashing-risk/)

EU Adopts New Rules Requiring 90% Emissions Reductions from Trucks and Buses by 2040

EU member states in the European Council announced today the adoption of new legislation, strengthening emissions standards for heavy duty vehicles in the EU, including a requirement for a 90% reduction in CO2 emissions from heavy duty trucks and buses by 2040.

Source:  ESG Today (https://www.esgtoday.com/eu-adopts-new-rules-requiring-90-emissions-reductions-from-trucks-and-buses-by-2040/)

ISSB publishes Taxonomy to enable greater analysis of disclosures

The International Sustainability Standards Board (ISSB) has published the IFRS Sustainability Disclosure Taxonomy (ISSB Taxonomy), enabling investors and other capital providers to analyse sustainability-related financial disclosures efficiently.

Source:  ESG Clarity (https://esgclarity.com/issb-publishes-taxonomy-to-enable-greater-analysis-of-disclosures/?utm_campaign=ESGCA%20News%207%20May%202024%20HK&utm_content=&utm_term=https%3A%2F%2Fesgclarity.com%2Fissb-publishes-taxonomy-to-enable-greater-analysis-of-disclosures%2F&utm_medium=email&utm_source=ESG%20Clarity)

Mainland China ESG trends

Shanghai listed main board company earnings presentation: The "ESG" theme week officially launched

On the 6^th of May, the Shanghai main board company earnings presentation "ESG" theme week officially launched. Shanghai listed main board companies actively practice new development concepts and attach great importance to sustainable development. Up to now, more than 950 Shanghai listed main board companies have disclosed 2023 sustainability reports, ESG reports or social responsibility reports, accounting for 56%. In the next month, the "ESG" theme week will invite nearly 300 Shanghai main board companies to talk about how to practice ESG concepts, help improve the company's long-term sustainable development ability and improve investor returns. During the "ESG" theme week, the Shanghai Stock Exchange will successively launch two industry collective presentations of "clean, low carbon" and "High dividend and heavy return", and relevant listed companies will jointly hold a performance presentation on the stage to help investors more comprehensively interpret business performance, understand development strategies, master industry rules, and share the joy of growth.

Source: Securities Daily (http://www.zqrb.cn/stock/gupiaoyaowen/2024-05-06/A1715002632959.html)

Two ESG group standards: Help corporates achieve international and sustainable development

On the 11^th of May, the ESG International Standardization Conference was held in Baoshan, focusing on the theme of "Deepening ESG standard cooperation to help sustainable development", to better help enterprises make use of ESG international general rules, create international cooperation, and shape new competitive advantages. This conference provides an international platform for ESG experts and scholars at home and abroad to exchange and learn from each other, and also provides intellectual support for Baoshan to build a green and low-carbon supply chain system and build a green and low-carbon transformation model area of the city. At the meeting, the Municipal Industrial Economy Federation issued the group standard "Corporate ESG (Environmental, social, governance) report preparation Guide" and "Corporate ESG (Environmental, social, governance) report evaluation criteria", and held the green low-carbon supply chain ESG salon.

Source：Shanghai Government (https://www.shanghai.gov.cn/nw15343/20240513/6c428ef8566b412888eaa7e226bdfbdc.html)

Sustainable Finance Certification Public and Completed by Lianhe Green