A review of the prospectuses of 24 Hong Kong-listed mainland manufacturing companies showed they generally provided inadequate information about environmental and social challenges facing their operations, exposing investors to unnecessary fall-out risks, the Financial Times reported. The combined market capitalization of the 24 companies reviewed by corporate governance watchdog Association for Sustainable & Responsible Investment Asia (Asria) stood at US$21.5 billion in June. Noting that IPO prospectuses "are often the only means by which environmental, social and governance issues are publicly disclosed," Asria found that, "while the environment in which these companies operate is rapidly changing, disclosure is generally at a standstill, both in terms of content and coverage".
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