2024亚太地区ISSB法规和披露情况分析报告

LSEG market insights and solutions forenablingISSB implementation Authors: Alexis Rocamora, Sustainable Finance and Investment Lead, APACLibby Low, Business Analyst, Sustainable Finance and Investment, APAC Reviewers:Julien Blanc, Head of Climate Solutions Contents Executive summary ___________________________________________________________________________________ 3 The rise of climate-related financial disclosures_____________________________________________________________ 5ISSB standards adoption, consolidation, interoperability and incorporation _______________________________________ 5 Regulatory landscape of climate disclosures and ISSB alignment in APAC_____________________________________ 8 Regulation classification methodology ____________________________________________________________________ 8Climate disclosure regulations and ISSB alignment in APAC __________________________________________________ 8 ISSB disclosure rates in APAC_________________________________________________________________________ 10 Mapping methodology between ISSB requirements and LSEG indicators _______________________________________ 10ISSB disclosure trends on global, regional and industry levels ________________________________________________ 11 LSEG Data and Analytics’ solutions for ISSB implementation _______________________________________________ 15 LSEG Climate Transition Data – climate metrics to assess corporate data on key ISSB requirements _________________ 15LSEG Sustainability Intelligence – corporate solution for ISSB aligned disclosures ________________________________ 17 Appendix ___________________________________________________________________________________________ 19 List of sustainability and climate disclosure regulations in APAC ______________________________________________ 19List of selected LSEG climate indicators mapped with ISSB S2 indicators _______________________________________ 23Number of companies in research universe by region and APAC sub-region _____________________________________ 25Overall APAC average ISSB disclosure rates and number of disclosed indicators _________________________________ 25 Executive summary With the two inaugural standards from the International Financial Reporting Standards (IFRS) Foundation’s InternationalSustainability Standards Board (ISSB) having come into effect in January 2024, many jurisdictions in the Asia-Pacific (APAC)region have started to adopt ISSB-aligned regulations, which will be implemented in stages from 2025 onwards. This paperprovides a comprehensive inventory of climate regulatory regimes in APAC and categorises them by the degree of ISSB Research findings: 1)ISSB regulations are coming fast to APAC We compiled all climate-related disclosure regulations in APAC jurisdictions and categorised them into three levels based on thedegree of alignment with ISSB standards: general climate disclosures indirectly aligned with the ISSB (Level 1); more direct yetsoft ISSB alignment (Level 2); and regulations directly aligned with and incorporating ISSB standards (Level 3). Our findingsreveal that 19 APAC jurisdictions have climate-related disclosure regulations, of which 13 jurisdictions have specific ISSB-aligned disclosure regulations. These 13 jurisdictions include those that have adopted ISSB regulations which will come intoforce in phases from 2025 (Hong Kong, Singapore, Taiwan, Malaysia, Philippines, Pakistan, Bangladesh and Sri Lanka), and 2)Companies in APAC show solid disclosures of core ISSB requirements While companies in APAC have yet to release ISSB-aligned disclosures, we conducted an ISSB readinessanalysis based on available data points that can bemapped with ISSB requirements. To do so, we mappedthe requirements from IFRS S2 with 31 indicators fromLSEG’s climate data set. These data points originatefrom disclosures based on climate reporting regulationsand frameworks that overlap with or preceded the ISSB including over 7,000 companies in APAC. The resultinganalysis in Exhibit 1 shows that Europe and APAC areleading the field, with overall ISSB disclosure rates of high average disclosure rates by APAC companies originate from their solid disclosures of core ISSB requirement, such asboard oversight of climate issues, Scope 1 and 2 Greenhouse Gas (GHG) emissions and GHG emissions reductions targets.These disclosures indicate a solid understanding of the basics of climate reporting by APAC companies, which can be attributed 3)APAC companies are not ready for full-scale ISSB implementation The ISSB standards go beyond foundational climate reporting and require disclosure of a variety of advanced metrics. Asshown in Exhibit 2, APAC companies still lack disclosures of those metrics, which include: •Strategic metrics that inform stakeholders how they will achieve their targets, including concrete and ambitiousmeasures to implement transition plans or management measures to navigate the transition.•Financial metr