Anniversary thoughts
This month’s CGj celebrates the first anniversary of the launch of our Sustainability Governance Academy (the Academy). Launched on 31 July 2024, the Academy is still growing and innovating. The ESG Reporting Certification Course, the precursor and gateway to the Academy, is now welcoming its seventh cohort of enrolments and nearly 1,800 professionals have been certified by the course to date. We have launched an advanced refresher course, available for certification holders from the first to the fourth cohorts, to ensure that members stay up to date with developments. We have also launched new resources for the approximately 700 Academy members – including video Q&A sessions with the Academy Advisory Board.
The events of the preceding 12 months have made ever clearer the need for a networking platform and knowledge hub for sustainability professionals. On the compliance front, Hong Kong now has in place a set of sustainability disclosure standards aligned with global best practice. The Hong Kong Sustainability Disclosure Standards (HKFRS S1 and S2) are local equivalents to the International Sustainability Standards Board’s IFRS S1 and S2, focusing on general sustainability disclosures and climate-related disclosures, respectively. While currently voluntary, the HKFRS standards are expected to become mandatory in the years ahead. That trend is already underway of course, with the Listing Rule requirement for mandatory sustainability disclosures based on HKFRS S1 and S2 for LargeCap issuers coming into effect from 1 January 2026.
Sustainability is not only concerned, however, with compliance and climate issues – and this was made very evident in our Academy anniversary gathering held on 29 July 2025. Our guest speaker, Polar Science Explorer Wen Xu, pointed out that sustainability is ultimately about safeguarding the planet’s ecosystems. While climate change mitigation and the transition to carbon neutrality should remain a crucial part of the work of sustainability professionals, Mr Xu reminded participants that we are in the midst of a biodiversity crisis, with species extinction rates accelerating at an alarming pace. Habitat destruction, pollution, invasive species and climate change are all driving this decline.
Moreover, regulators around the world are beginning to recognise the urgency of addressing biodiversity alongside climate change. The Taskforce on Nature-related Financial Disclosures, in particular, is working to create a comprehensive disclosure framework that will help organisations assess and report on their nature-related risks and opportunities.
To conclude, I would like to add that the Academy is part of a broader upgrading of the Institute’s CPD and member services. The need for a wider scope of training opportunities has been growing – not only among the governance professionals in our membership but also in the wider business community, and our Institute has been expanding and enhancing its training services accordingly.
In this regard, I would like to highlight the excellent speech by Dr Kelvin Wong SBS JP FCG HKFCG, Chairman of the Securities and Futures Commission, at our 2025 Director Training Series event held on 29 July. In his keynote address, reprinted in this month’s In Focus column, Dr Wong highlighted the key aspects of successful director training – aspects that have been guiding principles for our new director training initiatives.
Our Institute, via initiatives like the Academy and our Director Training Package, will remain dedicated to providing the accessible and high-quality CPD needed by all governance stakeholders in today’s rapidly changing business landscape.
