Hong Kong Sets Stage for Global Sustainability Reporting Standards with HKFRS S1 and S2

The Hong Kong Institute of Certified Public Accountants (HKICPA) has released Exposure Drafts for its first Hong Kong Sustainability Disclosure Standards, HKFRS S1 and S2, aligned with IFRS standards and open for public consultation until October 27, 2024. Set to take effect on August 1, 2025, these standards focus on sustainability-related financial disclosures and climate reporting, aiming to enhance consistency and comparability for investors. Targeting publicly accountable entities, this initiative underscores Hong Kong’s commitment to sustainable finance and its alignment with global reporting standards, reinforcing its role as a financial hub in Asia. Resources: https://esgnews.com/hong-kong-sets-stage-for-global-sustainability-reporting-standards-with-hkfrs-s1-and-s2/