Hong Kong Mandatory Provident Fund (MPF) to Require MPF Trustees to Improve ESG Disclosure, Approved MFP Trustees are AIA, Bank Consortium Trust, Bank of Communications, Bank of East Asia, BOCI-Prudential, China Life, Cititrust, HSBC, Manulife, Principal Trust, Standard Chartered, Sun Life & YF Life
25th February 2025 | Hong Kong
Hong Kong Mandatory Provident Fund (MPF) has issued a circular requiring MPF Trustees to improve ESG disclosure (Environmental, Social & Governance). The approved Hong Kong MPF Trustees are AIA, Bank Consortium Trust, Bank of Communications, Bank of East Asia, BOCI-Prudential, China Life, Cititrust, HSBC, Manulife, Principal Trust, Standard Chartered, Sun Life & YF Life. MPF Symposium (24/2/25): “The MPFA held the MPF Symposium today (24 February) to discuss with the MPF industry the development of and strategies for sustainable investment, and issued a circular letter providing guidance to MPF trustees on how to enhance the transparency of “Environmental, Social, and Governance” (ESG) funds in MPF schemes, with a view to enhancing scheme members’ understanding of ESG funds for making investment decisions … … In the circular letter issued by the MPFA today, MPF trustees are required to improve disclosure by setting out in the MPF scheme brochures the ESG foci, investment strategies, and mechanisms to monitor and measure attainment of the ESG foci of ESG funds. Additionally, trustees should regularly assess the extent to which the funds’ established ESG foci is attained and disclose this in the annual governance reports of their MPF schemes. This approach enables scheme members to evaluate whether the funds’ ESG performance aligns with their expectations, thereby enhancing overall transparency.”
” Hong Kong Mandatory Provident Fund (MPF) to Require MPF Trustees to Improve ESG Disclosure, Approved MFP Trustees are AIA, Bank Consortium Trust, Bank of Communications, Bank of East Asia, BOCI-Prudential, China Life, Cititrust, HSBC, Manulife, Principal Trust, Standard Chartered, Sun Life & YF Life “
Hong Kong Secretary for Financial Services and the Treasury, Mr Christopher Hui: “MPFA has been embedding sustainable investing in its mission and guidance for the industry. It is also diversifying MPF portfolios by integrating sustainable instruments with a pioneering mechanism established to prioritise the allocation to MPF schemes of institutional green bonds issued by Government. These initiatives advanced the environmental agenda while bolstering the long-term sustainability of the MPF System … … Symposium would collect wisdom of industry leaders, professionals and stakeholders to help cement Hong Kong’s role as a global leader in green finance and retirement protection and at the same time explore how finance can serve not only as a cornerstone for retirement protection, but also as a transformative force for the future of the planet.”
MPFA Chairman Mrs Ayesha Macpherson Lau: “The long-term impact of sustainability risks on MPF investments cannot be ignored. In this regard, the MPFA has developed principles for sustainable investing for the MPF industry … … We are also working full steam ahead on our flagship sustainability project: the eMPF Platform. By using technology, the eMPF Platform helps reduce both costs and paper consumption, making MPF operations more efficient and eco-friendly and benefiting all employers and scheme members. Our aim in the long run is to continue to move towards a greener operating environment, with the ultimate goal of being fully paperless and 100% digital … … Notwithstanding the good progress, MPF trustees should set higher expectations for investment managers of MPF funds to drive change in investment and risk management and launch more thematic ESG funds.”
MPFA Managing Director Mr Cheng Yan-chee: “Integrating sustainability factors into investment decision-making not only helps manage related risks and facilitate planning for retirement protection in the long run; it also contributes to a more sustainable future. The MPFA’s latest regulatory measure is intended to deepen MPF scheme members’ understanding of ESG funds and help them make investment decisions.”
Hong Kong Mandatory Provident Fund (MPF) to Require MPF Trustees to Improve ESG Disclosure, Approved MFP Trustees are AIA, Bank Consortium Trust, Bank of Communications, Bank of East Asia, BOCI-Prudential, China Life, Cititrust, HSBC, Manulife, Principal Trust, Standard Chartered, Sun Life & YF Life
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