AFRC Issues Consultation Paper on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong (“Consultation Paper”)
December 2025
As Hong Kong’s commitment to play its role in the global transition to a sustainable future, the Hong Kong government issued a Roadmap on Sustainability Disclosure in Hong Kong (“Roadmap”). The Roadmap provided a pathway for large publicly accountable entities (“PAEs”) to adopt HKFRS Sustainability Disclosure Standards (“HKSDS”) under a phased-in approach. Under this approach, large cap issuers and large non-listed financial institutions carrying a significant weight will fully adopt HKSDS no later than 2028. The Roadmap also tasked the Accounting and Financial Reporting Council (“AFRC”) with developing a regulatory framework for sustainability assurance (the “Framework”).
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