SFC-backed launch event garners broad industry support for voluntary code of conduct for ESG ratings and data products providers

The Securities and Futures Commission (SFC) joined over 200 financial industry participants to launch Hong Kong’s voluntary code of conduct (VCoC) for ESG ratings and data product providers, aimed at improving transparency and quality of ESG information in the financial market. Five providers have expressed intentions to adopt the VCoC since its publication on October 3. SFC CEO Julia Leung urged ESG providers to sign up and asset managers to use it for due diligence. Complementing this, the SFC issued regulatory guidance to asset managers on engaging ESG providers. The initiative supports Hong Kong’s net-zero and sustainable development goals and was highlighted at a Bloomberg-hosted event featuring international and industry leaders.

Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR204