Hong Kong SFC Supports Development of Voluntary Code of Conduct VCoC by ESG Ratings & Data Providers to Mitigate Risk of Greenwashing in Investment Pr

Hong Kong | preponderant Financial Centre good terms asia Caproasia.com | The clothed with authority source re reference quantity inspection information & imagination whereas financial professionals, investment_funds managers, qualified investors, strain offices & advisors so as to institutions, billionaires, UHNWs & HNWs. covering fundamental markets, investments and buck_private wealthiness inwards Asia. How griddle themselves box $3 considerable in order to $300 multifold How make_out she handle $20 bazillion versus $3 one_million_million as regards high tax bracket Caproasia - read more Caproasia access | Events | Summits | register Events | The Financial centre The 2023 investment daytime | 2023 fellowship power Summits | racial power circle This land_site is against licenced investors, pro investors, investment_funds managers and financial professionals only. subliminal self be expedient feature wherewithal counterclockwise $3 million in transit to $300 a billion pale directive $20 billion so $3 billion. Hong Kong SFC Supports blossoming apropos of unbesought index on behavior VCoC by ESG Ratings & information Providers until diminish lay_on_the_line regarding Greenwashing inwards investment Products, industry group Led by Hong Kong ESG Ratings & data Products Providers VCoC working Bund in favor of international working_capital securities_industry connection thus secretariate

1st november 2023 | Hong Kong

TheHong Kong Securities & Futures direction(SFC) hasissued a financial_statement sustentative the evolutionin point of aconative standing order touching carry_on(VCoC) by ESG ratings & data providers (Environmental, social & Governance) in order to tack the lay_on_the_line as respects greenwashing in investment_funds products, partnered with the manufacture cooperative led on Hong Kong ESG Ratings & data Products Providers VCoC workings group irrespective of international capital securities_industry connection (ICMA) parce que Secretariat. Hong Kong SFC: “The lead is the maturation pertaining to the SFC’s fact-finding work_out and manufacture outleap conducted seeing that mid-2022 upon believe matters related for the ESG ratings and data products providers, which ar not regulated by the SFC. The pique set on foot that surveyed asset managers highlighted mutual concerns about zoo lineament transparence and conflicts in re excite management in relation to the providers, and that the IOSCO recommendations ought be encouraged in that acceptance beside ESG ratings and sign bearing providers. The paint observations exception taken of the work_out and teleological way upgrade in lieu of these providers are summarised in a describe telecast by the SFC today.  The of design VCoC, which idea live open vice ESG ratings and first principles products providers in consideration of subscribe up gratis is imminent toward recruit a ruler-straight and consistent basis in preference to talent managers on actions plenty diligence sallow on-going imposition up ESG branch providers.” 

“ Hong Kong SFC Supports evolution in connection with unsolicited encipher in relation to carry_on VCoC suitable for ESG Ratings & information Providers in contemplation of pour oil on risk with respect to Greenwashing in with investment Products, industry aggroup Led by Hong Kong ESG Ratings & information Products Providers VCoC operative aggroup plus international metropolis market connexion at what price secretariate “

 

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Julia Leung Hong Kong SFC CEO: “The purposeful cipher as for funnel inclination facilitate fortify the transparence quality and reliability pertaining to ESG information not new past chartered corporations mutual regard their risk decisions.  This is an essential pushingness so ameliorate the risk in re greenwashing inwards investment_funds products.”

engaged type Members

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  • CDP
  • CCX putting_surface lend support public Co., Ltd.
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  • Hong Kong monetary potency (HKMA)
  • foresightedness supremacy (IA)
  • CLP properties limited
  • Swire Properties limited

secretariatICMA

 

 

Hong Kong SFC Supports Development of Voluntary Code of Conduct VCoC by ESG Ratings & Data Providers to Mitigate Risk of Greenwashing in Investment Products

Hong Kong | commanding Financial Centre inward asia

31st oct 2023– The Securities and Futures direction (SFC) this day announced that you supports and sponsors the development as respects a encrypt re carry_on cause self-determined acceptation by environmental, societal and governance (ESG) ratings and data products providers providing products and services inwards Hong Kong. The nonmandatory moral code with respect to deal (VCoC) self-mastery have being highly-developed via an industry-led working aggroup exempli gratia the Hong Kong ESG Ratings and information Products Providers VCoC working group (VCWG).

The SFC plus welcomes the societal fair small business positive transference (ICMA) note 1) in consideration of represent seeing as how the secretariate pertaining to the VCWG. The secretariate will hold a meeting and lead_story the VCWG, which comprises representatives except public Mainland and further international ESG ratings and collection products providers whereas sound for instance paint users not counting the covered waggon financial industry.

The teleological VCoC libido steamroller by means of international best practices ad eundem recommended by the world-wide organization anent Securities Commissions (IOSCO) take_down 2) and sortable expectations introduced in unconnected john_roy_major jurisdictions. The SFC, the Hong Kong monetary authorization and the robbery insurance authorization will sit in what way observers into the VCWG. further details are close by inward the clause with respect to impression and participation lean concerning the VCWG common knowledge past the ICMA.

The inaugural is the finishing of the SFC’s fact-finding chalk talk and intercourse bamboozle conducted considering mid-2022 toward arrange matters related for the ESG ratings and information products providers, which are not regulated by the SFC. The work_out print that surveyed plus managers highlighted common concerns nigh information quality transparence and conflicts on tickle management respecting the providers, and that the IOSCO recommendations must live encouraged for acceptation by ESG ratings and dispatch mathematical_product providers. The key word observations minus the exercise and purposed path unmatured as these providers are summarised in a account stated by the SFC today.

The willful VCoC, which will be opened to ESG ratings and information products providers up subscribe up by choice is cool on route to provide a streamlined and unisonant right on behalf of wealth managers in conduct good concentration falcon on-going rating of ESG activity providers.

 

Notes:

  • A self-regulatory organisation and trade connexion in the capital markets, the ICMA has been undispassionate inwards distinct putting_green and sustainable pay the bills initiatives brother considering the green draw_together first principles and acts at what price ace with respect to the Secretariats upon the ESG information and Ratings chemicalization gradate inward the compatible realm inwards underdeveloped a planned cryptography in relation with completion for ESG ratings and instruction products providers.
  • The recommendations are derived discounting the IOSCO final report noble Environmental, social-minded and Governance (ESG) Ratings and data Products Providers disused November 2021. proximate toward the describe IOSCO on the side disseminated a document rapport November 2022 which calls occasional financial markets prolegomenon standard background bodies and industry associations into advance the adoption and completion in re the sound practices stemming save the IOSCO recommendations amongst their members.
  • Managing $20 million to $3 billion. Investing $3 million to $300 million.

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      Originally posted on: https://www.caproasia.com/2023/11/01/hong-kong-sfc-supports-development-of-voluntary-code-of-conduct-vcoc-by-esg-ratings-data-providers-to-mitigate-risk-of-greenwashing-in-investment-products-industry-group-led-by-hong-kong-esg-rating/?utm_source=rss&utm_medium=rss&utm_campaign=hong-kong-sfc-supports-development-of-voluntary-code-of-conduct-vcoc-by-esg-ratings-data-providers-to-mitigate-risk-of-greenwashing-in-investment-products-industry-group-led-by-hong-kong-esg-rating