【ESG News】Global Trends Biweekly Newsletter Issue 39 (2025.7.28-2025.8.10)

Hong Kong ESG trends

Hong Kong gears up for Green Week

The second Hong Kong Green Week will kick off on 8 September. 

Themed “Forging a Sustainable Future Together”, the city’s flagship sustainability event offers stakeholders across the globe a platform for dialogue and collaboration.

Business and financial leaders, policy makers, industry specialists and scholars around the world will come together in Hong Kong to explore solutions to facilitate energy transition, build climate resilience, accelerate climate technology development, among other pressing sustainability challenges of our times.

Source: Hong Kong Monetary Authority - Hong Kong gears up for Green Week

Lianhe Green Insights

Hong Kong Green Week brings together global political, business, and academic circles, with 35 activities focusing on energy transformation and climate resilience, showcasing the vitality of the Asia-Pacific sustainable ecosystem. Led by the Monetary Authority, leveraging international platforms to consolidate Hong Kong's position as a green financial hub and contribute Eastern wisdom to global climate governance.

HKGFA Representative at ADB Sustainable Finance Workshop in Bangkok

Mr. Alexander Chan, Head of Sustainability Strategy, Asia Pacific Invesco and Co-Chair of Hong Kong Green Finance Association (HKGFA) Sustainability Disclosure and Policy Working Group, shared valuable insights and updates on the topic “Leveraging Taxonomies in Investment Decision-Making,” highlighting the importance and benefits of operationalising taxonomies in Asia.

The forum brought together industry experts, demonstrating Asia’s collaborative and leadership efforts to advance and promote sustainable finance market developments.

Source: HKGFA Representative at ADB Sustainable Finance Workshop in Bangkok - 香港绿色金融协会

Lianhe Green Insights

Representatives from the HKGFA were invited to Bangkok to participate in the Asian Development Bank's sustainable finance seminar, sharing Asian experiences in guiding investment decisions with classification directories, demonstrating the professional strength and regional leadership in cooperation of Hong Kong as a green finance hub.

International ESG trends

EU Commission Presents Voluntary Sustainability Reporting Standard

On July 30^th, the European Commission announced the formal adoption of the Voluntary Sustainability Reporting Standard for Small and Medium-sized Enterprises (VSME). The core objective is to assist SMEs in meeting data requests from large companies and banks, providing information for financial institutions and investors, thereby improving SMEs' access to financing. Additionally, the standard aims to help SMEs better manage their own sustainability issues, promoting more sustainable and inclusive economic development.

Source: Commission presents voluntary sustainability reporting standard to ease burden on SMEs - European Commission

Lianhe Green Insights

The European Commission's introduction of a voluntary sustainability reporting standard for SMEs is a pragmatic move to help SMEs tackle sustainability challenges. This initiative can significantly reduce the administrative costs for SMEs in terms of information disclosure, while also helping them better interface with larger corporations and financial institutions through standardized processes, enhancing their financing opportunities and market competitiveness. This policy reflects attention to the development needs of SMEs and provides strong support for promoting a sustainable transformation of the overall economy.

The 15^th Meeting of the Parties to the Ramsar Convention Convened

From July 24^th to 31^st, the 15^th Meeting of the Parties (COP15) to the Ramsar Convention was held in Victoria Falls City, Zimbabwe. The conference adopted the Victoria Falls Declaration, which calls on all parties to increase resource investment and political commitment, and to enhance investment in the protection and restoration of wetlands. Two resolution drafts proposed by China in collaboration with multiple countries were passed. These resolutions urge countries to strengthen national actions and international cooperation to protect and restore migratory bird flyways and their key wetland habitats, and advocate for the integration of new technologies with traditional knowledge in the conservation, restoration, management, and sustainable use of wetlands.

Source: 《湿地公约》第十五届缔约方大会在津巴布韦闭幕-新华网

Lianhe Green Insights

The Ramsar Convention highlights the global high regard for the protection of wetlands. The adoption of the resolution drafts proposed by China in conjunction with several other countries demonstrates China's proactive contributions and leading role in the field of international ecological conservation. This conference emphasizes international cooperation and resource investment, calling on countries to integrate wetland protection into national policies, which injects new momentum into global wetland conservation and provides a significant opportunity to address climate change and protect biodiversity.

Mainland China ESG trends

The Chinese Institute of Certified Public Accountants (CICPA) Seeks Public Opinion on the Basic Standards for Sustainable Information Assurance Services.

On July 30^th, the Chinese Institute of Certified Public Accountants (CICPA) released the "Sustainable Information Assurance Business Standard No. X - Basic Standards (Draft for Public Comment)" and is openly soliciting opinions, with a deadline of August 31^st. This draft for public comment is of great significance, as it implements the spirit of the 20^th National Congress of the Communist Party of China and its second and third plenary sessions, promotes sustainable development of the economy, society, and environment, and standardizes and guides accounting firms and other third-party intermediaries in conducting sustainable information assurance services.

Based on the actual and practical situation of sustainable information assurance services in China, and drawing on the latest achievements of the "International Standard on Assurance Engagements 5000 - General Requirements for Assurance Engagements on Sustainable Information" (ISSA 5000), the CICPA has drafted the draft for public comment. As the basic standard within the sustainable information assurance business standards system, it regulates the basic concepts, requirements, and methods of sustainable information assurance services, applicable to all assurance services performed on all types of sustainable information, including assurance engagements with reasonable assurance and assurance engagements with limited assurance.

Source: https://www.cicpa.org.cn/xxfb/news/202507/t20250731_65577.html

Lianhe Green Insights

As China's sustainable information disclosure system is gradually established, the market's demand for unified and standardized sustainable information assurance standards becomes increasingly urgent. The release of this draft for public comment will provide strong support for sustainable information disclosure, enhancing the credibility and comparability of the disclosed information, which will help investors, regulatory agencies, and other stakeholders make more accurate decisions.

The State Administration for Market Regulation Issues "Guiding Opinions on Promoting the Construction of the National Carbon Measurement Center."

To further improve the national carbon measurement system and better leverage the foundational support and safeguarding role of the national carbon measurement centers, enhancing the basic support and technical service levels for carbon measurement, the "Guiding Opinions" point out that by the end of 2030, focusing on key industries and fields, and relying on measurement technology institutions, research institutes, universities, central enterprises, etc., a number of national carbon measurement centers will be established. This will strengthen policy research and scientific and technological innovation in carbon measurement, make up for the shortcomings in carbon measurement standards, measurement standards, and reference materials, enhance the construction of carbon measurement verification and calibration capabilities, develop a set of carbon measurement technical specifications, and establish a relatively complete carbon measurement value transfer and traceability system. This will serve the sustainable economic and social development of our country and the achievement of carbon peak and carbon neutrality goals.

Source: https://www.gov.cn/lianbo/bumen/202508/content_7035409.htm

Lianhe Green Insights

The administration has introduced opinions on the construction of carbon measurement centers, aiming to fill the gaps in basic standards and establish a traceability system. Eight tasks are directly targeted at achieving "measurability, reportability, and verifiability." Accurate measurement is essential for genuine carbon emission reductions. By 2030, key industries will be strategically laid out, speaking with data, to solidify the foundation for China's dual carbon goals and contribute China's standards to global green governance.