“HKICPA publishes HKFRS Sustainability Disclosure Standards“ 12 December 2024

The Hong Kong Institute of Certified Public Accountants (HKICPA) has published today HKFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and HKFRS S2 Climate-related Disclosures (HKFRS Sustainability Disclosure Standards or HKFRS SDS). The HKFRS SDS are fully aligned with the IFRS Sustainability Disclosure Standards (ISSB Standards), with an effective date of 1 August 2025...

As outlined in the Government’s Roadmap on Sustainability Disclosure in Hong Kong (Roadmap), Hong Kong will prioritize the application of HKFRS SDS by large publicly accountable entities under a phased approach, with an aim to fully adopt the standards by 2028. The HKICPA will be guided by the Roadmap and will continue to work closely with other stakeholders in the areas of sustainability assurance, data and technology as well as skills and competencies to create an enabling environment for the successful implementation of the HKFRS SDS and to contribute towards the development of a comprehensive sustainability disclosure ecosystem in Hong Kong.