HK exceeds expectations in sustainability efforts

Strong progress: A pedestrian passes by a Hong Kong Stock Exchange electronic screen. A survey found that the proportion of large-market-capitalisation companies practising ESG external assurance was significantly higher, with 57 among 137 having done so. — AP

HONG KONG: Hong Kong is exceeding expectations in attaching the green label to its global financial hub status amid a worldwide drive for climate change.

Financial Secretary Paul Chan Mo-po unleashed a string of initiatives in his 2024-2025 Budget to foster a low-carbon economy. One key priority is to formulate sustainability disclosure standards and roll out a “roadmap” and a “vision statement” to help businesses and financial institutions in sustainability reporting and the analysis of relevant data.