From Task Force on Climate-Related Financial Disclosures (“TCFD”) to The International Sustainability Standards Board (“ISSB”), social responsibility and sustainable development are always under the spotlight. Companies are now required to include ESG reports as part of their disclosure requirements, and this has led to greater scrutiny of their non-financial data. However, there are concerns about transparency, as companies grapple with how best to present this information in a clear and meaningful way.
Towards the end of last year, the Global ESG Monitor (GEM) released its global report, as well as its first report on the Hong Kong region. The findings revealed significant disparities between different continents in terms of ESG reporting, and highlighted transparency challenges faced by some companies. Furthermore, the reports raised concerns around the credibility and accountability of ESG reporting for certain firms, suggesting a need for greater validity and liability in this area.
Looking towards the future, there is an expectation that ESG disclosure will become increasingly standardized, making it easier for investors to assess a company’s sustainability practices over the long term. Transparent ESG reporting is a critical tool that allows stakeholders to evaluate a company’s commitment to sustainability and make informed investment decisions. Here at LBS, we understand the importance of sustainability and remain committed to supporting our clients in achieving their sustainability goals and making a positive impact on the world.
Full GEM global report: https://globalesgmonitor.com/the-gem-2022-global-report-is-out-now/
Full GEM HK report: https://globalesgmonitor.com/download-report-form/
Special thanks to QUICK Corp., a member of Nikkei, for the coverage of GEM HK Report. Please click the link or find images below for the news coverage: https://moneyworld.jp/news/05_00094008_news