Hong Kong firms need to prepare for nature, biodiversity-related disclosures, experts say
By understanding and managing nature-related risks and opportunities, Hong Kong businesses can divert more capital towards conservation projects, according to Patrick Ho Ho-yin, head of sustainable development at developer Swire Properties.
“By embracing nature-related disclosures, Hong Kong can position itself as a leader in nature-based finance and attract investment for more environmental projects,” he said at the ReThink forum on Friday. Financiers increasingly want businesses to show that they are managing the matter well, he added.
About 55 per cent or US$58 trillion of global gross domestic product and half the market value in 19 major stock exchanges are exposed to material nature-related risks, according to a PwC report last year. The construction, food and beverage, and agriculture sectors were the most vulnerable, the World Economic Forum said in 2020.
There has been a significant and growing need for improved disclosures on biodiversity, ecosystems and services that nature provides, the International Sustainability Standards Board said in April, citing feedback from investors.
