the Hong Kong Securities and Futures Commission's CEO, Ashley Alder, stated on November 29th that five ESG rating and data product suppliers have agreed to sign a voluntary code. The code, launched last month, covers four areas: good governance, systems and controls, conflict of interest management, and transparency.
Alder pointed out that although the Securities and Futures Commission does not directly regulate ESG information providers, it hopes to improve the fairness and transparency of data collection through the code, so that asset management and fund companies and other users can evaluate ESG products more confidently.
In addition, Alder revealed that the issuance of licenses for virtual asset trading platforms in Hong Kong will be announced before the end of the year. The code follows the recommendations of the International Organization of Securities Commissions (IOSCO) and helps to combat the global phenomenon of "greenwashing" in financial markets, and improve transparency of ESG information in Hong Kong's financial market.