Alibaba, HKEX & ESG: Missed Leadership Opportunities
International Financial Law Review, 10 December 2019
Posted: 10 Jan 2020 Last revised: 17 Jan 2020
Date Written: December 10, 2019
Alibaba’s secondary listing in Hong Kong on 26 November 2019 represents a significant milestone for the bourse, and for Chinese issuers listed in New York and London. But it also represents missed opportunities and raises questions about the pace of ESG reform in Hong Kong. Alibaba’s ESG disclosures reveal concerns about corporate practices and the adequacy of exchange disclosure rules. The fact it is Hong Kong’s first wholly electronic offering begs the question why environmentally damaging printed prospectuses are still used in Hong Kong.
Keywords: Alibaba, ESG, environmental law, HKEX, hong kong exchange
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