TechFlow news, according to Hong Kong Radio's website, Hong Kong Securities and Futures Commission (SFC) Chief Executive Officer Mrs. Julia Leung stated on November 29 that five ESG rating and data product providers have expressed willingness to sign a voluntary code. Launched last month, the code covers four areas: good governance, systems and controls, conflict of interest management, and transparency.
Leung noted that while the SFC does not directly regulate ESG information providers, it expects the code to enhance fairness and transparency in data collection, enabling users such as asset managers and fund companies to assess ESG products with greater confidence.
In addition, Leung revealed that details regarding licensing for virtual asset trading platforms in Hong Kong will be announced before year-end. The code follows recommendations from the International Organization of Securities Commissions (IOSCO), helping combat "greenwashing" in global financial markets and improving ESG data transparency within Hong Kong's financial market.
