ESG Reporting

Under the new “Comply or Explain” disclosure requirements of the Hong Kong Stock Exchange (HKEx) Environmental, Social and Governance Reporting Guide, issuers are expected to emphasize the company’s roadmap towards sustainable growth through environmental, social and governance (ESG) target-setting. ESG is also being incorporated into the investment strategies of investors throughout the world, demonstrating its growing importance. Setting meaningful ESG performance targets with clear roadmaps can create value in growth and investment for companies.  Click <a href="../../../../../uploads/Creating_Value_through_ESG_Target_Setting_EN_d8bb5b681b.pdf" target="_blank" rel="noopener">here</a> to learn more. <a href="../../../../../uploads/Creating_Value_through_ESG_Target_Setting_EN_d8bb5b681b.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/Cover_EN_a5636c8bbf.png" alt="" width="300" height="424" /></a>

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CFA, FCPA, FCPA (Aust.), MRICS, RICS Registered Valuer
Vincent is the Founder and Managing Partner of AVISTA Group, who leads the firm’s Valuation Advisory, Risk Management Advisory, ESG Advisory and Corporate Advisory services in Hong Kong and the PRC.
Vincent has over 20 years of experiences in valuation advisory, M&amp;A advisory, business consulting and corporate investment, advising clients in a range of industries, including TMT, financial services, pharmaceutical, energy and etc. Hence, leading the firm to make breakthroughs in these areas.
Before founding AVISTA, Vincent served as an Associate Director of PwC and was in charge of the valuation division in Beijing. He has advised numerous large M&amp;A deals in both China and overseas for multinational corporations and Chinese state-owned enterprises. He also has extensive experiences in providing valuation services for US and HK IPO listing.
Vincent is the Vice Chairman of Business Valuation Committee and the Executive Council Member of The Hong Kong Independent Non-Executive Director Association (HKiNEDA), Reviewer of HKICPA Best Corporate Governance and ESG Awards, Head Juror of Institute of ESG and Benchmark (iESGB) Achievement Awards, and the member of Financial Reporting Valuation Advisory Panel of HKICPA.

VINCENT PANG

Managing Partner

Sabrina has over 8 years of substantial experience in sustainability, climate and risk management advisory for Hong Kong listed companies, IPO applicants and asset managers, with a focus on ESG disclosure and compliance, ESG strategy and impact enhancement, sustainability governance, ESG and climate risk management, sustainable investment, decarbonization roadmap and ESG assurance.
Sabrina has been a reviewer for the Best Corporate Governance and ESG Awards (the “Award”) organized by the HKICPA since 2020, reviewing the ESG reports of listed companies. From 2023 onwards, she has also served as an organizing committee member of the Award, providing her professional ESG knowledge and insights to the judging criteria and process.
Her industry exposure includes healthcare and pharmaceutical, TMT, property, green and renewable energy, e-commerce, environmental solutions, manufacturing, RFID, luxury goods &amp; retail, financial services, hospitality, F&amp;B, apparel &amp; textile, logistics etc. across Hong Kong, Mainland China, Australia and other Asia Pacific regions.

SABRINA LAM

Principal

Creating Value through ESG Target Setting

The Stock Exchange of Hong Kong Limited (the “HKEX”) has published the Guide for New Listing Applicants (the “Guide”), effective from 1 January 2024, introducing the new chapter on prospectus disclosure requirements and guidance in relation to Corporate Governance and Environmental, Social and Governance (“ESG”) (Chapter4.3 of the Guide). Listing applicants should pay attention to the impact of the Guide on the contents of the prospectus, in order to timely assess and optimize the proposed listing timetable.
 
<a href="../../../../../uploads/HKEX_s_Latest_Prospectus_Disclosure_Requirements_on_Corporate_Governance_and_Environmental_Social_and_Governance_under_the_Guide_for_New_Listing_Applicants_V6_5de8f68b61.pdf" target="_blank" rel="noopener">Read the report now</a>
<a href="../../../../../uploads/HKEX_s_Latest_Prospectus_Disclosure_Requirements_on_Corporate_Governance_and_Environmental_Social_and_Governance_under_the_Guide_for_New_Listing_Applicants_V6_5de8f68b61.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/Screenshot_2024_01_19_at_6_41_52_PM_e6c9255108.png" width="500" /></a>

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HKEX’s Latest Prospectus Disclosure Requirements on Corporate Governance & Environmental, Social and Governance under the Guide for New Listing Applicants 

As a guidance and enhanced regulations on the compliance audit activities of personal information protection, the Cyberspace Administration of China issued "Administrative Measures for the Personal Information Protection Compliance Audit (Comment Draft)” and the annex of "Reference Points for Compliance Audit of Personal Information Protection" for public comments.
 
Avista extracted some key provisions, with additional interpretation in terms of internal control, to provide personal information processors a better understanding for the regulatory requirements of the personal information protection-related compliance audit.
 
<a href="../../../../../uploads/Highlights_of_the_Compliance_Audit_Requirement_in_the_Administrative_Measures_for_the_Personal_Information_Protection_Compliance_Audit_Comment_Draft_4a2daaddc3.pdf" target="_blank" rel="noopener">Read the report now</a>
<a href="../../../../../uploads/Highlights_of_the_Compliance_Audit_Requirement_in_the_Administrative_Measures_for_the_Personal_Information_Protection_Compliance_Audit_Comment_Draft_4a2daaddc3.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/Screenshot_2023_11_10_at_2_57_02_PM_69620af56e.png" width="500" /></a>

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Highlights of the Compliance Audit Requirement in the “Administrative Measures for the Personal Information Protection Compliance Audit (Comment Draft)”

In October 2023, the Stock Exchange of Hong Kong Limited issued a guidance letter on the "Disclosure of the Basis of Consideration and Business Valuations in Notifiable Transactions”. The guidance letter emphasizes the need for listed companies to provide adequate explanation of the basis for determining the consideration of the transaction by disclosing sufficient and objective information in the disclosure documents, and provides guidance on the recommended disclosures.
 
<a href="../../../../../uploads/HK_Ex_Guidance_Letter_on_Disclosure_of_the_Basis_of_Consideration_and_Business_Valuation_in_Notifiable_Transactions_ab6483414a.pdf" target="_blank" rel="noopener">Read the report now</a>
 
<a href="../../../../../uploads/HK_Ex_Guidance_Letter_on_Disclosure_of_the_Basis_of_Consideration_and_Business_Valuation_in_Notifiable_Transactions_ab6483414a.pdf" target="_blank" rel="noopener"><img src="../../../../../uploads/Screenshot_2023_11_01_at_2_19_25_PM_a091602f0e.png" width="500" /></a>