Companies listed in Hong Kong must exceed international standards in reporting environment data, say campaigners Green Earth
- Proposals for stricter rules on disclosing emissions and waste data, to include employees taking flights, are ‘not like moon landing’ in terms of difficulty
- Standards must be raised to deliver environmental policies in the city, say green campaigners
Listed companies in Hong Kong should go beyond international standards in disclosing greenhouse gas emissions and waste management data to improve the city’s response to environmental challenges, say campaigners.
The Green Earth analysed how the 50 constituents of the Hang Seng Index publicised their environmental, social and governance (ESG) reports between early June and mid-July after the Stock Exchange of Hong Kong rolled out a consultation reviewing the requirements.
It found that 38 firms, or 76 per cent, had met international standards in disclosing their greenhouse gas emissions, while 23 businesses, or 46 per cent, did so when publishing their waste management information.
But Edmond Lau Shiu-long, project officer at the Green Earth, which campaigns for proper waste management and is based in Hong Kong, said there was still room for improvement at the city’s listed firms and local benchmarks should be revised so they are stricter than those adopted internationally.
“It’s nothing strange to see international standards offer a greater degree of freedom because they want to be applied to most of the countries,” he said.
