HKEX Chair Calls for Uniform ESG Rules to Avoid Greenwashing Risks

The video discusses the challenges of defining compliance due to the lack of universal standards across industries. It highlights the financial implications for polluting industries, such as fossil fuels, and the role of financial institutions in withdrawing support. The discussion extends to the potential for lowering listing standards for innovative companies, particularly in renewable energy, to facilitate capital access. The video also covers the role of regulators in preventing greenwashing and promoting sustainable finance, with a focus on cross-departmental collaboration in Hong Kong.

What is a major challenge in defining compliance across industries?

• Excessive competition

• Overregulation by governments

• Absence of universal standards

• Lack of financial resources

What action are some financial institutions taking against polluting industries?

• Increasing investment

• Offering tax incentives

• Providing subsidies

• Withdrawing financing

Why might standards for listing be lowered for certain companies?

• To make it easier for innovative technologies to access capital

• To encourage more foreign investments

• To increase competition

• To reduce regulatory oversight

What is the role of regulators in preventing greenwashing?

• To promote fossil fuel usage

• To deregulate the industry

• To ensure companies meet their sustainability targets

• To provide financial support

Which organizations are involved in Hong Kong's cross-department working group on ESG?

• UN and WHO

• World Bank and IMF

• NATO and EU

• Hong Kong Monetary Authority and SFC