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SFC Forum on Sustainability Disclosures

Developing a local ecosystem with world-class regulation

13 November 2023

Programme

10:00 - 10:10

Welcome remarks

Ms Julia Leung, SBS, JP
Ms Julia Leung, SBS, JP
Chief Executive Officer
Securities and Futures Commission

Ms Julia Leung has been Chief Executive Officer (CEO) of the Securities and Futures Commission (SFC) since 1 January 2023.

Ms Leung joined the SFC in March 2015 as Executive Director of the Investment Products Division. She became Executive Director of the Intermediaries Division in June 2016 and took on the additional capacity of Deputy CEO in March 2018.

In more than 25 years of public service, Ms Leung has extensive experience in financial regulation, market development and international cooperation. Prior to joining the SFC, Ms Leung was the Under Secretary for Financial Services and the Treasury from August 2008 to December 2013. Before that, she served at the Hong Kong Monetary Authority for 14 years, spending the last eight years as the Executive Director responsible for financial cooperation with Mainland and other international regulators.

Ms Leung graduated from The Chinese University of Hong Kong and earned a master's degree from Columbia University in the City of New York. In 2014, she authored a book on how Asia has surmounted various financial crises.

10:10 - 10:20

Keynote address

Mr Christopher Hui, GBS, JP
Mr Christopher Hui, GBS, JP
Secretary for Financial Services and the Treasury
HKSARG

Mr Hui has been Secretary for Financial Services and the Treasury since 2020. He serves on the boards of Mass Transit Railway Corporation Limited, Hong Kong Airport Authority and also as the Chairman of the Kowloon-Canton Railway Corporation.

He was an Administrative Officer in the Government from 1999 to 2003 and served in the Economic Development Branch, the Office of the Government of the Hong Kong Special Administrative Region in Beijing and the Home Affairs Department. After leaving the Government, Mr Hui spent 13 years at the Hong Kong Exchanges and Clearing Limited, having been the Managing Director for Market Development and Head of Project Management and also in various senior roles in Listing and Market Development. He worked for a number of multi-national companies in the private sector as well. He was appointed the Executive Director of the Hong Kong Financial Services Development Council from 2019 to 2020.

Mr Hui previously held a number of public roles including Councillor of the City University of Hong Kong, Member of the Mandatory Provident Fund Schemes Authority Process Review Panel, Hong Kong Stock Exchange Listing Review Committee and also Hong Kong Institute of Certified Public Accountants Disciplinary Panel.

Mr Hui holds Bachelor and Master (Hon) Degrees in Philosophy, Politics and Economics from the University of Oxford, and Master of Business Administration Degree from INSEAD. He also attended the Stanford Executive Programme (SEP).

10:20 - 10:30

Keynote address

Ms Sue Lloyd
Ms Sue Lloyd
Vice Chair
International Sustainability Standards Board

Sue Lloyd’s appointment as Vice-Chair of the International Sustainability Standards Board (ISSB), effective 1 March 2022, was announced in January 2022.

She served as a member of the International Accounting Standards Board (IASB) from 2014 and as IASB Vice-Chair from 2016. She also served as Chair of the IFRS Interpretations Committee from 2017.

In addition to her IASB responsibilities, she played a leading role in the establishment of the ISSB from 2020, including as a member of the Technical Readiness Working Group, which was created by the Trustees to give the ISSB a running start.

Prior to becoming an IASB member, Ms Lloyd worked for the IFRS Foundation as a senior technical director, leading the development of new IFRS Accounting Standards, and as director of capital markets with responsibility for the IASB’s reform of accounting for financial instruments. She also worked for the IFRS Foundation from 2002 to 2004 as a technical project manager.

Ms Lloyd has held various positions in investment banking both in the UK and in Australia and has served as a member of the Australian Accounting Standards Board (AASB). She has a Master’s degree in accounting and finance from the University of Auckland in New Zealand.

10:30 - 11:30

Panel discussion 1: Upping Hong Kong’s reporting and assurance standards to capture sustainability-related opportunities

Global investors require comparable, consistent and quality sustainability-related information to make informed investment decisions. Robust and comprehensive reporting and assurance requirements, which are the bedrock of a transparent and efficient market, will facilitate information flow. This panel will discuss opportunities that are available to Hong Kong as one of the first movers in regulation and innovative technologies.

Speakers:
Mr Jonathan Bravo
Mr Jonathan Bravo
Director of Regulatory Affairs
IFRS Foundation

Jonathan Bravo is the Director of Regulatory Affairs at the IFRS Foundation, where he leads engagement with regulators and policymakers at global level. He has an extensive experience in public policy and capital markets regulation with a focus on corporate and sustainability reporting.

Before joining the IFRS Foundation, he was Head of Finance and Senior Policy Advisor at the International Organization of Securities Commissions (IOSCO), responsible for the coordination of IOSCO´s policy work on financial and sustainability reporting, auditing and assuring.  During this period, he also headed the Secretariat of the Monitoring Board of the IFRS Foundation and was the IOSCO Secretariat representative for the Monitoring Group for international audit and assurance standard setting.

Jonathan also served as the first Finance Controller of the Public Interest Oversight Board (PIOB) and worked for several years for PWC in Spain.

He holds a MBA in International Capital Masters from UNED MEMFI Business School –in Madrid and earned a M.Sc. on Management and Business Administration from Alfonso X El Sabio University in Madrid. 

Mr Donald Chan
Mr Donald Chan
Managing Director, Asia Pacific
CDP

Donald joins CDP with over 20 years of work experience including seven years as a co-founder of two successful companies. He joined from Temasek where he established the internal capabilities to setup and operationalise new ventures and businesses. Prior to this, he was the Chief Operating Officer of Clifford Capital, a project and structured finance company, and also led the international business for Circles.Life, Asia’s leading digital telecommunications company including its successful launch into Indonesia and Taiwan, China markets. He brings his entrepreneurship to grow CDP as well as his investment experience in Singapore, Australia, Japan and Hong Kong. In addition to his private sector experience, Donald has also worked with the governments of Australia and Singapore to develop and execute strategies to achieve national objectives and economic outcomes.

Donald holds a Masters of Business Administration from Macquarie University as well as Bachelor of Law and Bachelor of Commerce from the University of Sydney.

Ms Loretta Fong
Ms Loretta Fong
President
Hong Kong Institute of Certified Public Accountants

Loretta is the President of the Hong Kong Institute of Certified Public Accountants (HKICPA). She has been practicing as an assurance partner in Hong Kong for over 15 years, and has extensive experience in providing accounting, audit and transaction advisory services to private and publicly listed entities in Hong Kong and the United States.

She is currently the Sustainability Deputy Leader of PwC Chinese Mainland and Hong Kong. The Sustainability team consists of multinational professionals leveraging on business know-how to drive transformative and innovative solutions for our clients.

Her strong international background and knowledge gained has assisted her in fulfilling her duties and responsibilities as a council member and the treasurer of the Hong Kong Polytechnic University (2019 -2025), a board member of the Ocean Park Corporation (2016 - 2022) and a council member of the General Committee of the Federation of the Hong Kong Industries (2019 – 2025), as appointed by the Government. She is also a member of the Green Technology and Finance Development Committee chaired by the Financial Secretary of the Hong Kong SAR, and a member of the Advisory Board of Hong Kong Management Association’s Global Centre for ESG Education and Research. 

Loretta holds a number of professional designations including CPA (practicing) Hong Kong (HKICPA), Certified Public Accountant in the United States (CPA (US)), Chartered Professional Accountant (CPA Canada), Chartered Financial Analyst (CFA), and CICPA (non-practicing).

Mr Mark Harper
Mr Mark Harper
Group Head of Sustainability
John Swire & Sons (H.K.) Limited

Mr Mark Harper has worked for around 20 years in the field of corporate sustainability. As Group Head of Sustainability at Swire, Mr Harper is responsible for managing the Group Sustainable Development Office, and leading on the design, execution and performance monitoring of global corporate strategy for sustainability for the Swire Group, and on acting as the lead change agent in driving improved sustainability performance and best practices, with a view to further embed sustainability into overall business strategy for Swire.

Prior to taking up the Group Head of Sustainability role, Mr Harper had worked at John Swire & Sons (H.K.) Ltd. for over seven years, where he was responsible for managing the Group’s ESG disclosures as well as advising operating companies on their own ESG submissions. In addition to his work on ESG ratings, Mr Harper was also responsible for advising the Group on policy and strategy development, particularly in the areas of climate resilience, biodiversity and sustainable waste management. He also sits on the Board of Business Environment Council, the Executive Committee of the Drink Without Waste working group and is Vice Chair of the Environment and Energy Committee of the British Chamber of Commerce in Hong Kong.

Mr Harper has extensive experience of ESG disclosure standards such as GRI and the Hong Kong Exchange ESG Reporting Guide, as well as conducting sector focused benchmarking studies, corporate environmental management, as well as organising hands-on corporate citizenship and CSR training programmes.

Before joining John Swire & Sons (H.K.) Ltd., Mr Harper worked in a number of senior management roles at high profile NGOs including the Earthwatch Institute, Fauna & Flora International, China Water Risk, and Business Environment Council, where he was responsible for managing the organisations advisory services on ESG reporting and corporate sustainability strategy development.

Ms Katherine Ng
Ms Katherine Ng
Head of Listing
Hong Kong Exchanges and Clearing Limited

Ms. Katherine Ng is the Head of Listing at Hong Kong Exchanges and Clearing Limited (“HKEX”). She joined HKEX in 2013 as the Head of Policy of the Listing Division. Ms. Ng has led the major listing policy initiatives in recent years, including the development and enhancements to the ESG regulatory framework, and represents HKEX in the Green and Sustainable Finance Cross-Agency Steering Group. Prior to joining HKEX, Ms. Ng served as Political Assistant to the Secretary for Financial Services and the Treasury of the Hong Kong Government, worked in an international investment bank and an international law firm in Hong Kong and London. Ms. Ng holds a Master of Arts in Law from Trinity College, University of Cambridge and is a qualified lawyer in both Hong Kong and England & Wales. Ms. Ng is currently an Advisor to Our Hong Kong Foundation, a Director of the World Wide Fund for Nature Hong Kong, a fellow of the Aspen Institute, a Member of the Hong Kong Academy of Finance and a senior fellow of Hong Kong Securities and Investment Institute (“HKSI”). She was a Director of HKSI from December 2014 to December 2022 and the Chairman between December 2018 to December 2021.

Moderator:
Ms Elaine Ng
Ms Elaine Ng
Associate Director, International Affairs and Sustainable Finance
Securities and Futures Commission

Elaine joined the International Affairs and Sustainable Finance team at the CEO’s Office of Securities and Futures Commission in June 2020.

Prior to joining the Commission, she spent over 8 years at MSCI Hong Kong and a total of 20 years in financial services with private sector firms. Throughout her career, Elaine has focused on investment risk management, taking on roles ranging from product development, client consulting and client implementation. In 2015, she crossed over into the then greenfield of ESG to drive MSCI ESG Research’s business development efforts across Asia ex-Japan.

Elaine is an alumnus of both Singapore Management University (M.Sc. Applied Finance) and National University of Singapore (B.Eng. Chemical).

11:30 - 12:30

Panel discussion 2: Supporting the industry and strengthening connectivity with the Mainland in transitioning to a low carbon economy

Many businesses in Hong Kong play a major role in the global supply chain and also have sizable footprint on the Mainland. This panel will discuss how Hong Kong can support regional transition needs and better address issues related to data availability and quality, to ensure companies provide quality information to satisfy the demand of global investors and stakeholders, capture opportunities from transition, and maintain their competitiveness.

Speakers:
Mr Benjamin Deng
Mr Benjamin Deng
Chief Investment Officer
Ping An Insurance Group

Mr. Deng joined Ping An in 2021. He is the Company's Assistant President, Chief Investment Officer.

Prior to joining the Company, Mr. Deng served as Chief Investment Officer of China Pacific Insurance (Group) Co. Ltd. and China Pacific Insurance Co., (H.K.) Ltd, Head of Investment Solutions & Derivatives of AIA Group, and Head of Market Risk Management (Asia-Pacific ex. Japan and South Korea) of AIG.

Mr. Deng is a Chartered Financial Analyst, a Financial Risk Manager, and holds a Master’s degree in Business Administration and Quantitative Model Analysis from Baruch College, City University of New York.

 

Ms Chaoni Huang
Ms Chaoni Huang
Head of Sustainable Capital Markets, Global Markets APAC
BNP Paribas

As Head of Sustainable Capital Markets Asia Pacific, Chaoni leads BNP Paribas’ sustainable finance solutions across asset classes for corporates, financial institutions and investors. Leading a growing Sustainable Capital Markets team and working with Global Markets, Capital Markets Group and coverage teams in Asia Pacific and the Bank’s global sustainable finance community, Chaoni drives BNP Paribas’ continued expansion and leadership in Asian sustainable capital markets.

Chaoni is an industry veteran with over 15 years of experience in sustainable finance having held various ESG-related roles at Natixis, S&P Trucost, MSCI and the United Nations. In addition to her role at BNP Paribas, Chaoni is also highly involved in the forwarding Asia’s ESG agenda through driving the development of sustainable finance ecosystems, education and advocacy in the region. She is Executive Vice President of the Hong Kong Green Finance Association and was a guest researcher at both the Green Finance Center at Tsinghua University and the China Economy and Sustainable Development Centre at the Cheung Kong Graduate School of Business.

Chaoni received her Bachelor of Economics from the University of Warwick.

Mr David Simmonds
Mr David Simmonds
Chief Strategy, Sustainability and Governance Officer
CLP Holdings Limited

Mr Simmonds is responsible for CLP Group strategic planning and the strategy agenda as well as driving the Group’s sustainability agenda and ensuring that it is embedded into the business.

He is also responsible for managing the investments and ventures that help support CLP’s growth strategy, the Group’s investments in South East Asia and Taiwan and the Group’s property development activities.

In addition, Mr Simmonds is the Group General Counsel & Company Secretary of CLP Holdings, responsible for the provision of legal, corporate secretarial and insurance services across the Group.

Mr Simmonds is a Vice-President of The Hong Kong Chartered Governance Institute (HKCGI) and is a Fellow of both The Chartered Governance Institute and HKCGI. He is also a Board Director of the Australian Chamber of Commerce in Hong Kong and Macau and a member of The Asia Society. Mr Simmonds is also a member of the Standing Committee on Company Law Reform.

Mr Simmonds holds a Bachelor of Laws (Honours) and a Bachelor of Commerce from the University of Melbourne.

Mr Mike Wong
Mr Mike Wong
Chief Executive Officer
The Chamber of Hong Kong Listed Companies

Mike Wong has over 30 years of experience in the financial services field. In his current position at the Chamber of Hong Kong Listed Companies (the “Chamber”), Mike is responsible for the operation of this listed company-focused organisation, including dealing with regulators and the stock exchange on listing rules- and regulations-related matters, providing seminars and professional trainings to directors and executives of listed companies and promoting corporate governance and ESG.

Previously, Mike worked at the Stock Exchange of Hong Kong where he held various positions at corporate communications and market development and gained in-depth knowledge about the stock market and financial products. Mike left the Exchange to join an investor relations specialist firm. In the years that followed, Mike worked with a number of international public relations firms, continuing to counsel Hong Kong and mainland listed issuers on cross-border investor communications. Immediately prior to joining the Chamber in 2006, Mike was the Hong Kong managing director of a US-based public relations company.

Mike has an MBA degree from the Hong Kong University of Science & Technology and a BA degree from the University of Hong Kong.

Ms Emily Woodland
Ms Emily Woodland
APAC Head of Sustainable and Transition Solutions
BlackRock

Emily Woodland is BlackRock's APAC Head of Sustainable and Transition Solutions ("STS").

STS is BlackRock's central sustainability function that leads our firmwide sustainability and transition strategy, drives cross-functional change, supports client engagements, improves product ideation, and embeds sustainability expertise across the firm.

Emily previously served as the Head of Sustainable Investment for Global Public Markets at AMP Capital, and prior to that as Investment Advisor for Asia Debt Management's private credit sustainable investment programs in South East Asia.

Her subject matter expertise in sustainability is grounded in over 16 years of APAC investment management experience with UBS, across asset classes and investment styles. She began her career in equity and convertible bond trading for UBS Investment Bank, then served as a portfolio manager with the firm's Fundamental Investment Group, and later as a portfolio manager in the
long/short multi-strategy hedge fund team within UBS Asset Management.

Emily holds a Bachelor's Degree in Financial & Business Economics from the University of Newcastle-upon-Tyne, a Masters Degree in Corporate Environmental Governance from the University of Hong Kong, and is a CFA Charter holder.

Moderator:
Ms Kelly Lee
Ms Kelly Lee
Senior Vice President, Policy and Secretariat Services, Listing
Hong Kong Exchanges and Clearing Limited

Ms Kelly Lee joined Hong Kong Exchanges and Clearing Limited (“HKEX”) in 2013. She works within the Policy and Secretariat Services of the Listing Division, and has been involved in HKEX’s major listing policy and ESG initiatives in recent years. Ms Lee is currently a member of the Sustainability Committee and the Sustainability Advisory Panel of the Financial Reporting Standards Committee of the Hong Kong Institute of Certified Public Accountants. She is also an advisor to the Climate Change Framework for Building and Construction initiative under the Sustainable Development Committee of the Hong Kong Green Building Council.

Prior to joining HKEX, Ms Lee was a senior associate practicing corporate and securities law in Hong Kong. Ms Lee graduated from the University of Hong Kong with two bachelor's degrees in Business Administration (Law) and Laws. She is a qualified lawyer in Hong Kong and in England & Wales. 

Last update: 7 Nov 2023

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