Hong Kong Exchanges and Clearing Limited (“HKEX”) has released a consultation paper on Environmental, Social and Governance Reporting Guide (“ESG Guide”). While international guidelines and standards covering environmental, social and governance reporting are being implemented in many jurisdictions, HKEX believes that Hong Kong issuers are not yet ready to comply with such standards and is therefore proposing to introduce an ESG Guide, which complements international disclosure guidelines, to encourage issuers to adopt best practices. The proposed ESG Guide in Appendix I to the consultation paper is divided into four areas: (i) workplace quality; (ii) environmental protection; (iii) operating practices; and (iv) community involvement. The proposed ESG Guide does not address corporate governance issues, as these are dealt with separately in the Corporate Governance Code.