Hong Kong-Listed Companies Seek Localised Greenhouse Gas Emissions References, HKICPA Reports

Companies listed in Hong Kong are seeking localised metrics for calculating emissions, according to HKICPA. They stated that Hong Kong requires benchmarks for measuring greenhouse gas emissions and forecasts for climate situations for listed corporations.

A standard setter suggests that Hong Kong should establish localized metrics for greenhouse gas emissions and future climate predictions for publicly traded companies to enhance their environmental transparency.

Cecilia Kwei, the head of accounting and sustainability standard setting at the organization, stated that these requirements are derived from the responses of corporate officers in charge of climate-risk disclosures, given to the Hong Kong Institute of Certified Public Accountants (HKICPA) throughout training seminars.

Attendees repeatedly stressed the necessity for more greenhouse gas emission data specific to Hong Kong, to avoid relying on foreign studies, and for climate risk situations, during their discourse at the ReThink HK sustainable business seminar on Thursday.

The HKICPA is a regulatory organization in charge of overseeing professional training and progress of certified public accountants in Hong Kong. Furthermore, it sets the benchmarks for the domestic accounting sector. It is mandatory for publicly traded firms to release reports regarding environmental, social, and governance matters in addition to their financial statements.

Companies utilize greenhouse gas emission factors to determine the emissions produced by their operations, particularly those related to energy use, transportation, and waste management.