Chinese Companies Get ESG Guidance From Hong Kong
China, which wants to achieve carbon neutrality by 2060, is expected to accelerate the implementation of mandatory environmental disclosure requirements. But lawyers say that even more than government regulations, it is Hong Kong and international investors that have put pressure on mainland Chinese companies to comply with ESG requirements.
September 06, 2021 at 12:01 AM
5 minute read
Environmental Law
Mandatory environmental, social and governance regulatory requirements are beginning to take shape in mainland China, and global lawyers say their Chinese clients have become increasingly aware of the importance of ESG for attracting both foreign and domestic investment.
With China's ambitious climate goal of reaching peak carbon emissions by 2030 and carbon-neutrality by 2060, it is widely expected that mainland regulators will continue to accelerate the implementation of mandatory environmental disclosures in the future.
The ESG landscape is already transitioning from semi-mandatory rules to mandatory ones. But lawyers say it is Hong Kong that has played a key role in familiarizing Chinese companies with tightening ESG requirements, and that it will continue to do so.
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