PricewaterhouseCoopers (PwC) revealed that 69% of the Hong Kong-listed companies it analysed have reported significant climate risks. However, globally, only 4% of companies have made all 11 disclosures recommended by the Task Force on Climate-related Financial Disclosures (TFCD). PwC’s research, which examined the ESG reports of 300 firms from 12 sectors in 2022, showed just 29% have plans for transitioning to a low-carbon economy. Despite these figures, PwC remains optimistic that companies will meet the upcoming 2024 Hong Kong Exchanges and Clearing mandate requiring climate-related information in ESG reports. The TFCD noted an increase in disclosure compliance, with 58% of companies adhering to at least five of its guidelines in 2022, up from 18% in 2020.
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