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(NewMediaWire) – May 31, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) will add a support stream to its Transformation Sandbox (T-box) programme to help Hong Kong companies integrate environmental, social and governance (ESG) initiatives into business. The new stream is expected to organise 100 free consultation meetings and serve 500 small and medium sized enterprises (SMEs) in its first year, covering both manufacturing and services sectors, such as garments, electronics, lighting, houseware and gifts, as well as transport, catering and construction.
HKTDC Deputy Executive Director Dr Patrick Lau said promoting sustainable development was an important theme globally; governments and multinational companies had set targets to cut carbon dioxide emissions, providing impetus for the green sector and encouraging Hong Kong businesses to move forward with sustainable development. In addition, ESG compliance had become a criterion for bank-loan approval and orders from premium buyers.
ESG is crucial for success
“ESG is no longer simply an option, but an important success factor. The HKTDC hopes this new service will become the strongest support for local business in their ESG transformation, encouraging more SMEs to take action to achieve sustainable development goals through adopting innovative eco solutions, as well as to bear social responsibilities and enhance corporate governance,” Dr Lau added.
To help SMEs navigate trends and apply ground-breaking technologies for solving long-lasting problems, the HKTDC and a number of organisations – including Business Environment Council (BEC) and Dun & Bradstreet (HK) Ltd – will cooperate to provide practical advice and information on sustainability transformation through consultation and workshops. ESG registration services will be offered at a discount.
The HKTDC will proactively collaborate with industry organisations and professional bodies to organise thematic workshops on social responsibility and corporate governance for SMEs, covering issues ranging from human resources and supply chain to risk management, cybersecurity and more.
Net-zero roadmaps for businesses
Business Environment Council (BEC) Chief Executive Officer Mr Simon Ng said severe climate challenges meant all business sectors should immediately act to formulate roadmaps and accelerate the net-zero transition.
“BEC will lead the local business community to build a sustainable ecosystem and continue to work with different stakeholders to achieve the goal of carbon neutrality through thought-leadership, innovative solutions, policy advocacy, strategic partnership, advisory services and environmental education,” he said.
Discounted ESG Registered(TM) Service
Dun & Bradstreet will offer special discounts for T-box members using the D&B ESG Registered(TM) service, to help them take the first steps towards sustainable transformation and enhance ESG data transparency, which helps firms that form part of global ESG supply chains.
Ms Michelle Mak, Head of ESG and Enterprise Learning, Dun & Bradstreet (HK) Ltd said ESG was about more than net-zero emissions; social responsibility and corporate governance were equally important. “To comply with ESG commitment, many MNCs (Multinational Corporations) have incorporated ESG controls into their supplier and vendor evaluation and selection process. D&B ESG Registered(TM) meets industry recognised sustainability standards such as SASB, GRI, TCFD, UN SDGs, UN PRI and CDP, those who successfully complete the required assessment will be given a badge as a recognition of commitment to disclosing ESG data, and SMEs’ efforts in ESG will help lift up corporate images and enhance competitive edges.”
Supporting over 3,000 SMEs
The HKTDC Transformation Sandbox (T-box) is a SME support programme launched in April 2020 to help businesses enhance competitiveness and achieve transformation goals in the areas of branding, e-commerce, manufacturing and supply chain solutions and new markets.
The T-box team supports SMEs over a three-month period with advisory services, workshops, government-funding information, market knowledge and networking opportunities to help them track market trends, improve skills and expand business connections. The programme has served more than 3,000 companies since launch. With the support of representatives from professional bodies, business associations, chambers of commerce, business partners as well as HKTDC overseas offices, about 850 consultation meetings have been arranged free of charge.
About T-Box x Dun & Bradstreet Hong Kong ESG Registered(TM) Service
https://smesupport.hktdc.com/en/s/dun-and-bradstreet
About BEC
Business Environment Council Limited (BEC) is an independent, charitable membership organisation, established by the business sector in Hong Kong. Since its establishment in 1992, BEC has been at the forefront of promoting environmental excellence by advocating the uptake of clean technologies and practices which reduce waste, conserve resources, prevent pollution and improve corporate environmental and social responsibility. BEC offers sustainable solutions and professional services covering advisory, research, assessment, training and award programmes for government, business and the community, thus enabling environmental protection and contributing to the transition to a net-zero economy.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For details, please visit www.dnb.com.hk
About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media Enquiries
HKTDC’s Communications and Public Affairs Department
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org
Photo download: https://bit.ly/43jxXA3
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