HKICPA publishes HKFRS Sustainability Disclosure Standards

The Hong Kong Institute of Certified Public Accountants (HKICPA) has issued the HKFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and HKFRS S2 Climate-related Disclosures, fully aligned with the IFRS Sustainability Disclosure Standards (ISSB Standards), effective 1 August 2025. HKICPA President Edward Au highlighted the standards’ role in enhancing corporate sustainability reporting, boosting Hong Kong’s competitiveness as a financial hub. To support implementation, HKICPA will provide capacity-building initiatives, including a free public briefing on 16 January 2025, technical FAQs, and an implementation support platform. The standards will be applied to large publicly accountable entities, with full adoption expected by 2028.

Resources: https://www.hkicpa.org.hk/en/News/News-Release/20241212_HKFRS_S1_S2