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Guidance on Climate Disclosures 2021



With effect from July 2020, HKEX’s ESG Reporting Guide has been amended to incorporate elements of the TCFD recommendations such as requiring board’s oversight of ESG matters, targets for certain environmental KPIs and disclosure of impact of significant climate-related issues. In light of the direction towards mandatory TCFD-aligned climate-related disclosures by 2025, we encourage our listed issuers to commence reporting in accordance with the TCFD recommendations the soonest. The purpose of the Guidance on Climate Disclosures (the Guide)2 is to provide practical guidance to facilitate listed companies in complying with the TCFD recommendations.3 This Guide is targeted at companies that are yet to develop substantive in-house expertise on climate-related issues, and seeks to mitigate the many challenges currently faced by most companies in TCFD reporting, including: (1) Lack of understanding of concepts relating to climate change issues; (2) Insufficient resources (e.g. lack of access to sustainability experts and lack of data); (3) Unclear roles and responsibilities; (4) Lack of awareness from different corporate departments.


Hong Kong





Issuer (type)

Hong Kong Stock Exchange (Stock Exchange)

Instrument type


Disclosure instrument


Geographical scope


Mandatory or voluntary


Text analysis

    • Low 0.46%
    • Low 0.00%
    • E focus: climate risk, emissions, energy, energy use, environment, ghg emissions, ghg reduction, green building, greenhouse gas, land use, renewable energy, sustainable finance, waste, water, water risk, climate change
    • S focus: human capital, social impacts, compensation
    • G focus: audit, human capital, social impacts, accountability
    • Agriculture, Construction, Finance, Information, Management, Manufacturing, Mining, Professional services, Real estate, Transportation