HK amongst first to adopt international disclosure standards

This shows the city's commitment to improving sustainability transparency in markets.

An International Financial Reporting Standards (IFRS) Foundation report confirmed Hong Kong is amongst the first to commit to fully adopting the IFRS Sustainability Disclosure (ISSB) Standards, the government said.

The government said this demonstrates the city’s commitment to enhancing the transparency of information on sustainability in capital markets, enabling investors to make informed investment decisions.

Secretary for Financial Services & the Treasury Christopher Hui said the IFRS Foundation’s confirmation affirms Hong Kong’s efforts and determination to support and promote a common international language on sustainability disclosures.

“It also demonstrates Hong Kong’s strengths in the field of sustainable finance, helping to consolidate Hong Kong’s position as an international sustainable finance hub,” Hui said. “Hong Kong will continue to be at the forefront in aligning with international standards and promoting market best practices.”

In December 2024, the Hong Kong Institute of Certified Public Accountants published the Hong Kong Sustainability Disclosure Standards (Hong Kong Standards), which will be effective from 1 August this year.

These standards are fully aligned with the ISSB Standards.

Around the same time, the Financial Services & the Treasury Bureau also launched a Roadmap on Sustainability Disclosure in Hong Kong, which sets out Hong Kong’s approach to requiring publicly accountable entities (PAEs) to adopt the ISSB standards and provides a well-defined pathway for large PAEs to fully adopt these standards no later than 2028.