HKEX’s climate disclosure rules will force Hong Kong firms to seek solutions for greenhouse gas emissions: PwC
- A key aspect for companies is understanding their greenhouse gas emissions and the impact on the environment, says PwC’s climate change expert
- The Hong Kong stock exchange’s mandatory climate-related disclosures could come into effect as early as January next year
Companies in Hong Kong will need to “know their greenhouse gas emissions” and “look for solutions” to meet the stock exchange’s tightening climate disclosure requirements, according to accounting firm PwC.
Climate change has become increasingly important for companies to consider their impact on the environment, and a key aspect is understanding their greenhouse gas emissions, according to Low Lit-Ping, Asia-Pacific climate change lead partner at PwC Hong Kong, speaking at the consultancy’s environmental, social and governance event on Tuesday.
“Companies need to know where their greenhouse gas emissions are in order to look for the solution,” said Low. “You can only manage what you can measure.”
Small and medium-sized enterprises (SMEs) can learn from the practices of first-movers in their industry in decarbonising their operations, as well as those of their competitors, she said, adding that government policies would also benefit SMEs.
“Companies don’t need to start from scratch. There are many examples they can take reference from, whether from Hong Kong or internationally,” said Low.
