The Securities and Futures Commission (SFC) has announced the publication of a voluntary code of conduct (VCoC) for environmental, social, and governance (ESG) ratings and data providers in Hong Kong. Developed by the Hong Kong ESG Ratings and Data Providers Working Group and supported by the SFC, the code aims to establish standards for high-quality and transparent ESG information, addressing concerns about greenwashing. Providers who adopt the VCoC will be required to publicly self-attest to their compliance, aiding due diligence for asset managers and other users. The initiative is aligned with international best practices and reflects ongoing efforts to enhance sustainable finance in Hong Kong.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR159
