Hong Kong Stock Exchange names first Chief Sustainability Officer

Hong Kong Exchanges and Clearing Limited (HKEX) has appointed Paul Chow as its first Group Chief Sustainability Officer.

Chow adds the newly-created CSO responsibilities to his current position as General Counsel of the exchange. He joined the firm in 2021 after nearly a decade working as a partner in a variety of law firms.

As Chief Sustainability Officer, Chow will be tasked with developing a sustainability strategy for HKEX, ensuring that environmental, social, and governance considerations are integrated into the firm’s operations, policies, and culture. 

His responsibilities will also include oversight of HKEX’s sustainability initiatives, including the recently-launched carbon credit marketplace Core Climate. 

“Sustainability sits at the core of all that we do, and Paul is perfectly placed to lead the Group’s efforts on this critical journey, with his outstanding leadership and strategic thinking capabilities, as well as his deep understanding of sustainable finance and regulatory frameworks,” said HKEX CEO Bonnie Y Chan.

Sustainability disclosures on the Hong Kong stock exchange

HKEX recently introduced mandatory sustainability disclosures for its listed companies – which are due to come into effect on January 1, 2025. The requirements are closely aligned with the IFRS S2 standard on climate-related disclosures, published by the International Sustainability Standards Board (ISSB).

They will be implemented in phases, starting with mandatory Scope 1 and 2 emissions disclosures next year and a ‘comply or explain’ policy for other disclosures. Disclosures will remain voluntary for small and mid-size companies.

Other Chinese stock exchanges are also looking at introducing similar measures – but none appear to have hired a Chief Sustainability Officer.