ESG Reporting and Sustainability Advisory 2020
We have advised dozens of HKEx listed companies in 2016/17. From a simple 1 hour hit list discussion to a full fledged review of what is going to be released. Environmental, Social and Governance (ESG) reporting is now a mandatory disclosure requirement where every listed company must comply or explain. The ESG report is a mean where stakeholders can better understand an organisation’s goals and commitment in sustainability practices. It is also a driving force for organisations to integrate sustainability into their business that could bring additional value to the organisation. Our ESG team possesses in-depth knowledge and experience and can assist you to achieve a higher level of sustainability goals in areas such as ESG reporting assurance, supply chain management, carbon management, resource management, sustainability performance assessment, stakeholder engagement, etc.
Question - Why would you pay for an ESG consultant in Hong Kong ?
Answer: You want your company to be listed in the Top 10 for being Sustainable and being Transparent.
What are your goals you are trying to achieve ?
- To be a top 10 employer in HKG - (Lower employee costs)
- To be respected by investors that are screening by ESG reporting.(Attract more capital - reduce costs)
- To do the right thing.(reduce risk of being called out)
We are here because we believe in the future and can assist in increasing value and moving to the highest ratings. - The CSC Team give us a try for ESG !
New for 2020/21
June 1, 2019 - Hong Kong, CSC is building an ESG E-learning series of modules from the bottom up. Part of your ESG reporting can include KPI's of ESG understanding across all of your company employees. If you are interested in beta testing and access to the content for your own personal, or company objectives in ESG learning, we would be glad to sign you up as a beta tester starting July, 2018 as the releases are completed. Let us know if interested for further details and schedule of releases.
Sustainability
A commitment to the future
A holistic approach to sustainability
Pioneer with a long track record
Maybe, but not sure how to help ?
Not at this time, I am fine with Status Quo.
CSC Consulting is a specialist consultancy focusing on sustainability, responsible investment, and strategic communications. One of the first sustainability communications firms established in Hong Kong, CSC Consulting is a Certified Training Partner, Data Partner, Organizational Stakeholder., and a HK registered Company.
CSC Consulting provides practical tools and expertise to companies who currently don’t have adequate resources to appoint dedicated employee to manage environmental, social and governance issues. We offer business knowledgeable sustainability professionals when and how your company needs it.
Sustainability
Sustainability is a journey. CSC Consulting specializes in helping clients that need a strategic approach to sustainability. It is a requirement to have an external independent reviewer, and CSC is cost sensitive in this market. Together with our clients we commit to make sustainable development so desirable that it becomes normal and a sustainable world for both present and future generations.
Training
CSC Consulting has been appointed as the exclusive client development arm of the Hong Kong Lead Acid Battery Recycling center (LABRC). CSC Consulting is qualified to deliver training courses on sustainability reporting utilizing the HKEx recommended reporting framework. The methodology incorporates group exercises, interactive case study presentations and discussions. Upon completion of the workshops, participants will receive a certificate of completion in ESG reporting from CSC.
Strategic Communications
We tailor the approach to meet your unique requirements to reduce risk, and seek to work in partnership with you to produce your annual sustainability report that will satisfy the needs of your stakeholders, meeting the reporting standards as detailed in the HKEx’s ESG Reporting Guidelines. As a Certified Training Partner CSC Consulting is qualified to deliver training courses on sustainability reporting.
The Importance of Sustainability
- Impacts economic prosperity
- Social development
- Protecting natural environment
- Future global health concerns
"Saving the planet" "Making a difference" "Being a good corporate citizen" "Only one planet"
We have Expert ESG Consultants in Hong Kong ready to go !
To register follow "click here" for esg reporting experts hong kong
ESG Reporting: A step closer to transparent sustainable business
Following a consultation with the market in 2015, the Stock Exchange of Hong Kong (‘the Exchange’) issued a revised version of Appendix 27 Environmental, Social and Governance (‘ESG’) Reporting Guide (‘the Guide’) in December 2015, that was partly effective for issuers on the Main Board1 for accounting periods starting on or after 1 January 2016, and will become fully effective for accounting periods starting on or after 1 January 2017.
This means that 2016 is a year of change for issuers – they will have to disclose more about their ESG activities and results, and prepare to disclose even more in their 2017 ESG reports.
The new Guide concerns Environmental and Social subject areas, whereas the ‘G’ continues to be addressed in the separate Corporate Governance Code. Both Environment and Social subject areas comprise various aspects and for each, the Guide sets out ‘general disclosures’ and ‘key performance indicators (‘KPIs’)’ to be reported in order for an issuer to demonstrate how they have performed. The Exchange however encourages issuers to identify additional Environment and Social issues and KPIs if the Board believes they substantially influence the assessments and decisions of stakeholders.
The Board has overall responsibility for an issuers ESG strategy and reporting and should not consider the Guide as merely a check box exercise.
In a move towards the approach taken for financial reporting, four new principles help determine which aspects should be reported on and how:
- Materiality is the threshold at which ESG issues become sufficiently important to investors and other stakeholders that they should be reported.
- Quantitative: KPIs need to be measurable and accompanied by explanations of its purpose impacts and giving comparative data.
- Balance: The ESG report should provide an unbiased picture of the issuer's performance.
- Consistency: The issuer should use consistent methodologies to allow for meaningful comparisons of ESG data over time.
Through applying the above, issuers can determine what information should be disclosed in the report.
The Guide then stipulates one of two levels of disclosure obligations for each item to be reported:
(a) "comply or explain" provisions – as determined in the Corporate Governance Code, Appendix 14
or
(b) recommended disclosures.
If an issuer does not report on a provision that is defined as "comply or explain", it must provide reasons why in its ESG report.
The disclosure obligations set out in the Guide can be summarized as follows:
* general disclosures comprise policy + description of degree of compliance with relevant laws and regulations
The 12 Environment KPIs will move from being ‘recommended’ disclosures in 2016 ESG reports to ‘comply or explain’ in 2017. This means that issuers may have to collect new data for the first time with effect from as early as 1 January 2017, depending on their financial year.
CSC has been providing ESG services, We believe this is a welcome development for the Exchange and Hong Kong market, that keeps Hong Kong tracking in the same direction as other international capital markets where there are increasing demands for more transparency on ESG matters and more non-financial indicators are expected by investors and other stakeholder groups.’
This new Guide also sees the ESG disclosures from the Exchange working in complement with the new disclosures required through the Business Review2 section of the Directors Report set out the Companies Ordinance Cap 622. Aligning the ESG and financial reports provides a more holistic way of understanding an enterprise’s results and impacts, which makes so much sense. We don’t believe in disclosure for disclosure’s sake but that ESG factors should be embedded in a business strategically so that they deliver true impact. To consider such areas as just a bolt on and a compliance necessity, is missing many positives and is a potentially risky way to manage a business.
This article covers highlights from the new Guide only. Please refer to the Exchange’s website for the full text.
1Note the changes to Main Board’s Appendix 27/the Guide explained above were reflected in the equivalent guide for the GEM market, Appendix 20.
2For more details about the Business Review section of the Directors Report, click here.
For assistance in interpreting and implementing the Guide, please contact CSC.