ESG Series seminar on how to provide “investor grade” ESG and sustainability disclosure co-organised by BDO HK, World Resources Institute (WRI) and WWF-Hong Kong  was successfully held on 13  February 2019 (Wednesday) in the offices of BDO HK. 

Mr. Ricky Cheng, Director & Head of Risk Advisory, BDO HK, started his presentation with key survey findings and recommendations from the annual survey on the performance of ESG reporting of Hong Kong listed companies in FY2017/18. He stressed there is a need for companies to put more effort into ESG strategic planning, discussion about their goals, challenges and opportunities, response to latest trends and how to make use of ESG to demonstrate the investment value of companies to investors.

The 2nd speaker, Ms. Chendan Yan, Research Analyst, WRI, introduced the Science Based Targets (SBT) to attendees. She explained their importance and how attendees would benefit from establishing a climate science compliance long-term greenhouse gas (GHG) emission reduction target. It is worth noting that there are five companies in Hong Kong that have committed to SBT and one of them has had the target approved. [Presentation]

The presentation by the 3rd speaker, Ms. Karen Ho, Head of Corporate and Community Sustainability WWF Hong-Kong, was on the theme of “Investor Grade” ESG disclosure, the focus and approaches to establishing sustainability strategies. Sustainability “megaforces” including climate change, energy security, resource scarcity, disparate levels of prosperity, food security and ecological decline, are changing notions of what constitutes business success.    Karen also spoke about how corporates should respond to policies and initiatives of Governments and world trends using tools such as the Sustainable Development Goals of the United Nations (UN SDGs) and solutions offered by WWF-Hong Kong.[Presentation] 

In the Q&A session, speakers illustrate the difference and value of good environmental performance of corporate to traditional financial measurement. It usually takes a long run approach for environmental management practice to shows its power and benefits, and therefore, there is an urgency for corporates to establish a comprehensive strategic plan on ESG aspect, including setting up a scientific long term GHG emission reduction target, for the long term benefits.

We look forward to more companies establishing long-term strategic ESG planning for a better environmental performance. Should your company be interested in this topic or looking for solutions on managing sustainable performance, please feel free to contact us by email: loop@wwf.org.hk or by phone: 2161 9655.