On November 30, BlockBeats news reported that the Hong Kong Securities and Futures Commission (SFC) Chief Executive, Leung Fengyi, stated on November 29 that five ESG ratings and data product suppliers have agreed to sign a voluntary code. Launched last month, the code focuses on four key areas: good governance, systems and controls, conflict of interest management, and transparency.
Leung Fengyi noted that although China’s Securities Regulatory Commission doesn’t directly regulate ESG information providers, they hope to improve data collection fairness and transparency through the code. This will allow asset companies and fund companies to evaluate ESG products with increased confidence.
Additionally, Leung Fengyi revealed that Hong Kong’s virtual asset trading platform licensing will be announced before the end of the year. The code aligns with recommendations from the International Organization of Securities Commissions (IOSCO) and aims to combat “greenwashing” in global financial markets while enhancing ESG information transparency in Hong Kong’s financial market.
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