Roadmap on Sustainability Disclosure in Hong Kong : Ambition . Assurance . Enablement

Hong Kong’s Roadmap on Sustainability Disclosure (Dec 2024) signals a clear shift from voluntary ESG narratives to decision-useful, globally comparable sustainability reporting aligned with ISSB (IFRS S1 and IFRS S2). It sets a phased pathway for publicly accountable entities (PAEs): all Main Board issuers begin climate disclosures based on HKEX’s New Climate Requirements on a “comply or explain” basis from 1 Jan 2025, with Large Cap Issuers moving to mandatory reporting from 1 Jan 2026. Full adoption of Hong Kong Sustainability Disclosure Standards—expected effective 1 Aug 2025—is planned for large PAEs no later than 2028, supported by parallel work on assurance (AFRC framework consultation in 2025; local assurance and ethics standards targeted by end-2025), plus investment in data tools, green fintech, taxonomy expansion, and workforce capability building.

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