HKICPA welcomes the publication of Jurisdictional Profiles on adoption of ISSB Standards by the IFRS Foundation
The Hong Kong Institute of Certified Public Accountants (HKICPA) welcomes the IFRS Foundation’s publication of Jurisdictional Profiles on adoption of ISSB Standards (Profiles), which recognizes Hong Kong’s leading progress in aligning the local sustainability disclosure standards with the corresponding global baseline.
The Profiles include information about each listed jurisdiction’s stated target for alignment with ISSB Standards and the current status of its sustainability-related disclosure requirements. According to the Profiles, Hong Kong has been confirmed as among the initial set of jurisdictions having set a target of fully adopting the ISSB Standards.
HKICPA President Edward Au said, “We are delighted to see the announcement by the IFRS Foundation, which affirms Hong Kong’s leading position in sustainability disclosures efforts with global benchmark standards and enhancing transparency for capital markets. As the sustainability disclosure standards setter in Hong Kong, the HKICPA will continue its dedicated efforts to contribute to the development of a comprehensive sustainability disclosure ecosystem, aiming to solidify Hong Kong’s status as a leading international financial centre and a green and sustainable finance hub.”
Guided by the Government’s Roadmap on Sustainability disclosure in Hong Kong (Roadmap), the HKICPA published the HKFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and HKFRS S2 Climate-related Disclosures (HKFRS SDS) in December 2024. The HKFRS SDS are fully aligned with the ISSB Standards. Following the publication of HKFRS SDS in December 2024, the HKICPA published the local sustainability assurance standard, Hong Kong Standard on Sustainability Assurance 5000 General Requirements for Sustainability Assurance Engagements in March 2025, in full alignment with the corresponding international standard issued by the International Auditing and Assurance Standards Board. To further enhance the credibility of sustainability disclosures in Hong Kong, the HKICPA aims to publish the local ethics standard for sustainability assurance by the end of 2025.
In addition, the HKICPA is committed to enhancing the skills and competencies of local stakeholders for sustainability reporting. Apart from offering trainings and seminars to members of the Institute and other stakeholders, the HKICPA will launch a sustainability certificate programme for accountants and non-accountants in 2025, to build capacity for stakeholders.
In the future, the HKICPA will continue to be guided by the Government’s Roadmap to contribute towards the development of a comprehensive sustainability disclosure ecosystem in Hong Kong.
To view the full Jurisdictional Profiles on adoption of ISSB Standards published by the IFRS Foundation, please visit: https://www.ifrs.org/ifrs-sustainability-disclosure-standards-around-the-world/use-by-jurisdiction/
To learn more about the efforts of HKICPA in sustainability, please visit “Sustainability Information Centre” of the HKICPA:
Photo 1: The Hong Kong Institute of Certified Public Accountants (HKICPA) welcomes the IFRS Foundation published the ISSB Jurisdictional Profiles, which recognizes Hong Kong’s leading progress in aligning the local sustainability disclosure standards with the corresponding global baseline.
