Hong Kong Treasury Department: As of the end of the first quarter, the size of Hong Kong's ESG fund management has exceeded 1.35 trillion Hong Kong dollars, an increase of 14.4% year on year.

In the first quarter of this year, the total value of Hong Kong's ESG (Environmental, Social, and Governance) retail funds exceeded HKD 1.3 trillion. According to a spokesperson for the Hong Kong Treasury, as of March 31 this year, there were a total of 224 ESG funds approved by the Hong Kong Securities and Futures Commission, with assets under management totaling USD 173.6 billion (equivalent to over HKD 1.35 trillion). Compared to the same period last year, the number of approved ESG funds and the assets under management grew by 19.1% and 14.4%, respectively. The International Sustainability Standards Board (ISSB) issued the International Financial Reporting Sustainability Disclosure Standards (ISSB Standards) in June last year, aiming to serve as a set of globally applicable benchmarks for companies to disclose climate and sustainable development-related information. A spokesperson for the Hong Kong Treasury stated that the Hong Kong government will work with relevant financial regulatory authorities and stakeholders to develop an appropriate roadmap for adopting the ISSB Standards and aligning with international standards. The Hong Kong government has established a working group jointly led by the Treasury and the Securities and Futures Commission, with members including financial regulatory authorities and relevant stakeholders (including the Hong Kong Exchanges and Clearing Limited and the Hong Kong Institute of Certified Public Accountants), to draft this roadmap. The roadmap is expected to cover four key areas: sustainability reporting, assurance, data and technology, and capacity building. The Hong Kong Institute of Certified Public Accountants, as the developer of Hong Kong's sustainability reporting guidelines, will establish local sustainability reporting guidelines that align with the ISSB Standards, as well as accompanying application and implementation guidance. So far, these are some general precautions people have to take in order to stay safe.