Some of Asia’s biggest companies are pushing back against plans from the Hong Kong Stock Exchange (HKEX) to demand greater disclosure on environment, social and governance (ESG) issues. In May, HKEX proposed forcing listed companies to publish statements about ESG-related risks. But the Chamber of Hong Kong Listed Companies, whose members include tech firms Tencent and China Mobile, said it wants disclosure to be the discretion of companies. If adopted as proposed, the rules would require companies to disclose additional information about risks related to climate change and new details about greenhouse gas emissions. The exchange has said it wants to implement the disclosure proposals from next year. The Hong Kong corporate community’s resistance to mandatory ESG disclosures contrasts with some other major markets. The UK is exploring mandating companies disclose climate-related risks, while France already requires investors in the country to disclose how they handle ESG criteria.

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Financial Times