Regulatory News from Asia Pacific

6/6/24: A federal court in Australia found a superannuation liable for making misleading ESG investing claims to its members

5/28/24: The Australian Sustainable Finance Institute (ASFI) has initiated a public consultation on the Australian Sustainable Finance Taxonomy, developed in collaboration with the Australian Government to guide investment towards Australia’s sustainability objectives

5/3/24: The Hong Kong Monetary Authority (HKMA) has released its Taxonomy for Sustainable Finance, akin to the EU Taxonomy, categorizing economic activities by sustainability

4/10/24: The Sustainability Standards Board of Japan (SSBJ) has issued proposed Sustainability Disclosure Standards, aligned with those issued by the International Sustainability Standards Board (ISSB)

3/28/24: An Australian Federal Court has found Vanguard Investments Australia liable for making misleading claims about certain ESG exclusionary screens used by its Ethically Conscious Global Aggregate Bond Index Fund. 

2/28/24: Singapore is set to introduce mandatory climate reporting starting in 2025, requiring listed and large non-listed companies to disclose environmental impact and climate-related information

2/21/24: Paper published on China’s role in accelerating the global energy transition through green supply chains and trade 

1/15/24: Australia has introduced draft legislation that would require climate-related reporting by large and medium-sized companies

12/12/23: Australian Competition and Consumer Commission Releases Eight Principles to Guide Businesses on Environmental Claims

12/4/23: MAS Launches Singapore-Asia Taxonomy for Sustainable Finance

10/31/23: Hong Kong Securities Regulator Backs Non-Mandatory Guidelines for ESG Rating and Data Products Providers 

10/24/23: AASB Proposes Sustainability Reporting Standards Aligned with ISSB Framework

7/26/23: The Australian Securities & Investments Commission (ASIC) has initiated a court action against Vanguard Investments Australia for supposed greenwashing

5/3/23: The Australian Securities & Investments Commission (ASIC) issued a $13,000 infringement notice to superannuation fund promoter Future Super for alleged greenwashing in a 2019 Facebook post

4/21/23: Australia to will launch its first sovereign green bond by the middle of 2024

4/21/23: Monetary Authority of Singapore (MAS) launches a net zero transition financing plan

4/14/23: The Hong Kong Stock Exchanges to require issuers to make climate disclosures

2/28/23: Australian Securities & Investments Commission (ASIC) brings a lawsuit alleging greenwashing against Mercer Superannuation

1/2/23: Singapore appoints first Government Chief Sustainability Officer

12/20/22: Japan’s Financial Service Agency introduces new law mandating ESG disclosures for Japanese listed companies