Speaker Lois Guthrie Director, Redefining Value, World Business Council for Sustainable Development (WBCSD) Panelists Frank Leung Head (Banking Policy), Hong Kong Monetary Authority Hendrik Rosenthal Director, Group Sustainability, CLP Moderator James Robertson Head of Asia (ex-China & Japan), Principles for Responsible Investment Overview Hong Kong’s regulators plan to make Taskforce on Climate-Related Financial Disclosures (TCFD) reporting mandatory for relevant sectors no later than 2025. Companies will need to report how they will fare under different scenarios 10 or more years in the future. Auditors will need to assure this reporting. This will not be easy. Companies affected will need several years to prepare. Lois Guthrie will present work WBCSD is doing with TCFD to developing scenarios for TCFD reporting. The HKMA launched a pilot stress testing exercise at the start of the year where participating banks need to assess climate risks under different scenarios. Frank Leung will comment on how this has that gone so far and what has been learnt. The panel will then discuss the following points and take questions from the audience - How companies will need to report using against future climate change scenarios.
- The extent to which reporting against the scenarios can inform decision-making.
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