Ever since the Hong Kong Exchanges and Clearing Limited (HKEX) has raised ESG Reporting to “Comply or Explain” level from January 2016, investors' expectations on the extent of disclosure have been increasing. New amendments to the ESG Reporting Guide by the HKEX have officially become effective on 1 July 2020, which sets elevated requirements and expectations on the sustainability playing field. The CarbonCare® ESG Label 2023 is upgraded to reflect the latest international trends, regulatory requirements and community aspirations. It is designed to give special recognition to best performers in ESG reporting in four important areas: 1.5 degree commitment, materiality assessment, quantitative targets for environmental KPIs, and climate disclosure.
The applicant's current ESG report has
Follow ‘comply or explain’ provisions to report on general disclosures & environmental KPIs
Disclosures of at least one area:
A commitment to 1.5 degree net zero pathway or to setting Science-based Targets
Climate disclosure in line with the TCFD Recommendations.
Materiality assessment through dedicated stakeholder engagement process(es) focusing on the applicant's impacts on the economy, environment and people
Quantitative targets for more than one environmental KPIs that are material to the applicant
Four levels of recognition will be awarded, dependent on the applicant’s achievements in one, two, three or four areas above