Staying ahead: Responding to increasing ESG disclosure requirements (25 Jan 2016)

There has been dramatic growth in the rate of Environmental Social Governance (“ESG”) reporting over the last few years driven by an expansion in information requests from stakeholders and sustainability rating agencies, coupled with increasing ESG regulation. In Hong Kong, changes to the Companies Ordinance and the recent upgrade of the Hong Kong Stock Exchange’s (“HKEx”) ESG Guide to “Comply or Explain” are raising the requirements for ESG disclosure for listed and non-listed companies.

Corporations that are new to reporting are often faced with the seemingly daunting challenge of addressing these requests in preparing their first ESG Report. Our speakers will advise on the implication of these changes on businesses in Hong Kong, and how addressing these requirements can increase a corporation’s level of transparency and brings value to the reporting organisation.

Ellie Pang, Vice President, Listing Department of the Hong Kong Stock Exchange will present on updates to the HKEx’s Environment, Social and Governance Reporting Guide elaborating on the movement toward specific KPIs and General Disclosures to “Comply or Explain” status.

Wendy Yung, Founder of Practising Governance, will share her experience and insights on the immediate key tasks for ESG reporting cycle, including the setting up of relevant ESG strategies and policies applicable at a board level. Ms Yung will also provide members of the audience with a briefing on the “ESG-related” disclosure in the new “business review” (part of the annual report) under the New Companies Ordinance (“NCO”), and its relationship with the Listing Rule requirements.

Speakers

Ms Ellie Pang, Vice President, Listing Department, Hong Kong Exchanges and Clearing Limited

Ellie Pang has been trained as a lawyer and has worked in international City firms in London and in Hong Kong for over 10 years.

Since joining the Hong Kong Stock Exchange in 2005, Ellie has been involved in many of the Exchange’s recent policy initiatives, including review of the Corporate Governance Code and associated Listing Rules, Board Diversity and the Environmental Social and Governance Reporting Guide.

Ms Wendy Yung, Founder, Practising Governance

Prior to founding “Practising Governance” which aims to further enhance the standard of corporate governance in Hong Kong, Wendy Yung was Executive Director and Company Secretary of Hysan Development Company Limited. Wendy is a member of the Listing Committee of the Stock Exchange of Hong Kong Limited, the Securities and Futures Appeal Panel, and Standing Committee on Company Law Reform. She is also a member of the Professional Accountants in Business Committee of the International Federation of Accountants, whose focus area include governance, risks, and sustainability.

A solicitor by training, Wendy is also qualified as a certified public accountant and a chartered secretary in Hong Kong. She is a co-opted council member of the Hong Kong Institute of Certified Public Accountants, and a council member of the Hong Kong Institute of Chartered Secretaries respectively.

Highlights

• An overview of sustainability reporting
• An overview of the changes to the HKEx ESG Guide and its implication for listed companies
• Introduction to KPIs and Disclosures that will move toward “Comply or Explain” status in the HKEx ESG Guide
• Guidance on the immediate key tasks in getting started on ESG reporting - including facilitating the board in determining the company’s ESG priorities and strategy
• Update on the ESG-related disclosure in the “business review” (part of the annual report) under the New Companies Ordinance and its relationship with ESG reporting under the Listing Rules

Who Should Attend

Both proficient reporters and those new to reporting who are interested in understanding updates to the New Companies Ordinance and HKEx ESG Guide, the impact that it  will have on their disclosure and how this may be addressed in the most efficient manner possible.

Registration

Please download and fill in the REGISTRATION FORM (Registration Closed) to reserve your seat(s). Successful registrations will be notified separately. For registration, please contact Ms Joey Hui (T. 2784 3958 | E. joey@bec.org.hk). For more information about the event, please contact Mr Samuel Lee (T. 2784 3933 | E. samuel@bec.org.hk).

Remarks
(1)  Registrations are subject to final confirmations from BEC
(2) Registrations of non-BEC members are subject to seats availability, after allowing for members’ registrations
(3) BEC reserves the right not to accept any registration, at its sole discretion and without the need to give explanations