BDO ESG Awards reward companies for their dedication to sustainability
- CLP Holdings, Cathay Pacific and Lenovo among winners for both overall ESG initiatives and reporting
- ESG Report of the Year shared by Nameson Holdings, Zhou Hei Ya International and China Resources Pharmaceutical Group
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Following its successful inauguration in 2018, global accountancy network BDO announced its second ESG Awards on February 20 at a ceremony at the Grand Hyatt Hong Kong.
Created to recognise excellence in long-term environmental, social and corporate governance (ESG) strategies and reporting, the ESG Award is presented to Hong Kong-listed companies with large, middle and small market capitalisation as well as GEM organisations.
Since ethics and social responsibility became a factor in both institutional and individual investment decisions in the mid-20th century, ESG has become the primary metric for measuring a business’ sustainability and ethical impact on its financial performance.
[Environmental, social and corporate governance] reporting essentially influences a company’s competitive positioning
As non-financial information becomes more crucial for investors when considering risk factors in all sectors, demand for reporting also increases.
“ESG reporting essentially influences a company’s competitive positioning,” Ricky Cheng, director and head of risk advisory at BDO, said. “This gives a strong reason for companies to attempt to communicate the ESG strategies, management approaches and achievements or difficulties in which investors are more interested, in a more transparent, interactive and informative way.”
Clement Chan, managing director of assurance at BDO in Hong Kong, said: “We believe companies have come to appreciate the value of ESG reporting and are therefore putting time and resources to incorporate sustainability elements in their business models and value chain, which in return brings new business opportunities to them.”
