The HKIFA is advocating for fund documents to only be delivered to investors digitally by default, increased use of cloud for record keeping, and greater alignment with international standards.
Most financial institutions say coordination among regulators is not sufficient to effectively promote sustainable finance globally, according to a GFMA survey.
The framework will comprise guiding principles and possible metrics for the greenness assessments, drawing from industry feedback and the HKMA's participation in the NGFS.
Authorities in Singapore and the UK have agreed to enhance cooperation in cyber security, data connectivity, talent development and green finance.
The report identifies the prerequisites for creating an ecosystem that facilitates sustainable finance, and sets out 10 recommendations for growth and emerging markets.
The Task Force said some of the results of its disclosure review and survey are encouraging, but not enough companies are disclosing decision-useful climate-related financial information.
HKEX is reviewing its ESG reporting framework to ensure it remains fit for purpose and is up to date with investor and stakeholder expectations and international best practice.
The Consortium will serve as a platform to pursue climate-related financial disclosures and decide how the disclosed information will be used in investment decisions.
The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.
The new guide takes into account the TCFD recommendations, the UN Sustainable Development Goals, WFE guidance and best practices, and Nasdaq’s own pilot programme.
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