On April 16, 2021, the Stock Exchange of Hong Kong Limited (SEHK) issued a consultation paper (the “Consultation“) seeking public comment on proposed amendments to the SEHK’s Corporate Governance Code and Listing Rules intended to promote good corporate governance practices among listed companies and IPO applicants. Amidst the global surge in interest around ESG principles, the SEHK recognizes in the Consultation that “[g]overnance and oversight of ESG matters, and management of material ESG risks (including climate-related risks), are an integral part of good corporate governance.” Accordingly, among the various proposals in the Consultation, the SEHK seeks to elaborate upon the link between corporate governance and its existing ESG reporting regime, align the publication of ESG reports with international best practices and promote gender diversity among listed issuers.

In a Legal Update, we highlight the various proposals in the Consultation related to ESG and gender diversity, as well as the growing interest in similar diversity proposals among financial markets regulators in other jurisdictions around the world.

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