Domestic ESG News
- HKICPA refocuses its annual Awards to recognize organizations integrating CG & ESG practices and highlights findings of brief research on ESG assurance of Hang Seng Index companies
With the increasing demand for ESG (Environmental, Social and Governance) information by investors pursuing long-term investment in sustainable and socially responsible companies, as well as other stakeholders, the Hong Kong Institute of Certified Public Accountants (HKICPA) is pleased to be launching the Best Corporate Governance and ESG Awards. Previously known as the Best Corporate Governance Awards, they were first organized in 2000 and, since then, have become among Hong Kong’s most prestigious and sought-after awards.
Reference: https://www.hkicpa.org.hk/en/News/News-Release/BCG-and-ESG-Awards-2021
- Do firm-level sustainability targets drive environmental innovation? Insights from BRICS Economies
The study finds that embedding environmental targets in corporate strategy does encourage corporate managers to design and develop eco-friendly products and services, and such firm-level commitments at the top motivate managers to promote, market, and label environmentally friendly products. The findings call for greater emphasis on aligning executive compensation with sustainability targets rather than focusing too much on short-term accounting and market-based measures of firm performance.
Reference: https://doi.org/10.1016/j.jenvman.2021.112754
- Large-scale afforestation is causing a negative ecological environment in the Gobi region
It was found that large-scale afforestation in the gobi region is an ecological disaster for these very drylands. Without a proper understanding of scientific greening within the general public, blindly planting trees in unsuitable areas is causing environmental problems. One of the most important causes of these issues is the implementation of national policies on subsidies for planting trees in desert areas, which led to unsustainable planting practices of businessmen in Gobi region. It was proposed that to solve this issue, planted trees should be monitored over a long time period instead of just 3 years and tree planting should be planned according to the local conditions and respecting the laws of nature.
Reference: https://www.nature.com/articles/s41598-021-93948-5
- China announces new regulation on data security sanctions
The Cyberspace Administration of China (CAC) has opened an unprecedented investigation into Didi Chuxing and published a draft regulation to revamp privacy and data security sanctions only two weeks after the world’s largest app-based ride-hailing services company’s initial public offering (IPO) on the New York Stock Exchange (NYSE).
Reference: https://www.osborneclarke.com/insights/china-announces-new-regulation-data-security-sanctions/
- Alibaba and Tencent-backed pre-owned e-commerce firms enjoy second spring thanks to China’s decarbonisation push
Low prices used to be a major factor driving Chinese consumers of second-hand products, but now they have one more reason to be frugal – fighting climate change by reducing the carbon footprint of their lifestyles.
- China launched the World’s Largest Emissions-Trading Programme
On 16 July, 2021, China launched its long-planned national emissions-trading programme, which is the world’s largest carbon market. The Programmes will initially involve over 2,200 companies in the power sector, which are responsible for a seventh of global carbon emissions from fossil fuel combustion.
Reference: https://www.wsj.com/articles/chinas-national-emissions-trading-set-to-begin-11626247709
- DHL-SCMP Hong Kong Business Awards kick off 2021 search for corporate, management and executive achievements
The 2021 DHL-SCMP Hong Kong Business Awards (HKBA) kicked off the nomination process to honour outstanding management, corporate and entrepreneurial achievements over the past 12 months, when the city was mired in recession amid the Covid-19 pandemic.
Global ESG News
- EU climate action is ‘global model for greening the planet’
In order to meet the target of reducing greenhouse gas emissions by at least 55% by 2030, the European Commission (EC) has this week accepted a host of changes to the EU’s climate plans on energy, land use, transport and tax systems.
Reference: https://esgclarity.com/eu-climate-action-is-global-model-for-greening-the-planet/
- Corporate solar interest surges as companies exit pandemic and turn focus to ESG issues
As the COVID-19 emergency has waned, interest in renewables surges and ESG issues drive more corporate decisions. A total of corporate funding for the solar sector reached $13.5 billion in the first half f 2021 compared with $4.6 billion lsat year; and a record 24.7 GW of solar projects were acquired globally in the second quarter of this year. Experts see growth fueled not just by pent up demand, but also growing attention to ESG considerations and renewables’ financial advantages over fossil fuels.
- Government of Canada confirms ambitious new greenhouse gas emissions reduction target
The Minister of Environment and Climate Change, the Honourable Jonathan Wilkinson, formally submitted Canada’s enhanced Nationally Determined Contribution (NDC) to the United Nations, committing Canada to cut its greenhouse gas emissions (GHG) by 40‑45 percent below 2005 levels by 2030. Canada has joined over 120 countries to commit to net-zero emissions by 2050 and its ambitious new NDC for 2030 keeps the country on course. It builds on a whole-of-government plan, “Canada’s Strengthened Climate Plan: A Healthy Environment and Healthy Economy”, that includes Canadians in all regions and all economic sectors.
- Oatly faces claims and accusations by Spruce Point of inflating revenue and greenwashing
The activist short-seller accused Oatly of shady accounting practices and misleading consumers about its green credentials. Allegations of greenwashing and overstated revenue were raised, stating that Oatly has been manipulating its financials in its prospectus and ‘cherry picking’ sustainability data.
Reference
- European Commission Adopts New Sustainable Finance Strategy and Proposes European Green Bond Standard
The European Commission adopted measures to expand its level of ambition on sustainable finance and initiatives to tackle climate change and challenges.
– Extend the existing sustainable finance toolbox to facilitate access to transition finance
– Improve the inclusiveness of small and medium-sized enterprises, and consumers, by giving them tools and incentives to access transition finance.
– Enhance the resilience of the economic and financial system to sustainability risks
– Increase the contribution of the financial sector to sustainability
– Ensure the integrity of the EU financial system and monitor its orderly transition to sustainability
– Develop international sustainable finance initiatives and standards, and support EU partner countries
Regulation on a voluntary European Green Bond Standard
– The funds raised by the bond should be allocated fully to projects aligned with the EU Taxonomy
– Full transparency
– EU green bonds must be in compliance with the Regulation and that funded projects are aligned with the Taxonomy
– External reviewers must be registered with and supervised by the European Securities Markets Authority
Reference: https://ec.europa.eu/commission/presscorner/detail/en/ip_21_3405
- Climate policy takeaways from the G20 finance meeting
G20 members recognised that due to vaccines and continued policy support, the global outlook has improved. However, the G20 will continue its efforts to steer the global economy toward strong, sustainable, balanced and inclusive growth. They reiterate their agreement on a more stable and fairer international tax architecture, by reallocating profits of multinational enterprises and having an effective global minimum tax. Moreover, tackling climate change remains an urgent priority, concluding that closer international coordination on climate action is needed, integrating the G20 global risk monitoring and preparedness into future policy discussions, such as green investments in sustainable infrastructure and innovative technologies that promote decarbonisation and circular economy. G20 also recognised that advanced and well-functioning digital infrastructure is an important driver for economic recovery and will continue to foster collaboration between the public and private investors to mobilize further investment in infrastructure.
Reference: https://home.treasury.gov/news/press-releases/jy0269
Publication of ESG Reports in Hong Kong (2021.7.12 – 7.16)
Disclaimer: The ESG news and analysis cannot be relied upon to cover specific situations and the information in the news and analysis is not suggested to be used without obtaining specific professional advice. Greenco and its directors, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance upon the information in this news and analysisor for any decision based on it.
免責聲明: 本ESG分析不能用作涵蓋特定情況且不建議在未獲得專業建議的情況下使用其中的信息。勤創永續及其董事、員工和代理人對由於任何人依賴本分析中的信息而採取或不採取的任何行動所造成的任何損失不承擔任何責任或義務。
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Materials
GDH Guangnan (Holdings) Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200241.pdf
Lee Kee Group
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200800.pdf
Newton Resources Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071201054.pdf
Yip’s Chemical Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300209.pdf
Da Ming International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300353.pdf
Ximei Resources Holding Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601208.pdf
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Property & Construction
Kin Shing Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200395.pdf
Thelloy Development Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200409.pdf
Tesson Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200538.pdf
Emperor International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200745.pdf
Sinolink Worldwide Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200747.pdf
China Overseas Grand Oceans Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200916.pdf
Wai Hung Group Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071201056.pdf
Dragon Rise Group Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300399.pdf
Zhong Ao Home Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300854.pdf
Eminence Enterprise Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400346.pdf
China Electronics Optics Valley Union Holding Company Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400540.pdf
Regal Real Estate Investment Trust
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400599.pdf
Safety Godown Company, Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400924.pdf
Central China New Life Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071401098.pdf
Yau Lee Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500389.pdf
Golden Ponder Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500474.pdf
Jiayuan Services Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600491.pdf
Lotus Horizon Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600587.pdf
Zhenro Services Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600754.pdf
Sunshine 100 China Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600870.pdf
Jiande International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601194.pdf
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Consumer Goods
Glorious Sun Enterprises Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200776.pdf
China Healthwise Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071201010.pdf
Sky Lights Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071201050.pdf
RemeGen Co., Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300275.pdf
Suga International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300407.pdf
Mediwelcome Healthcare Management & Technology Inc.
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300806.pdf
Speed Apparel Holding Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400324.pdf
China-Hongkong Photo Products Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400328.pdf
Vitasoy International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400506.pdf
STELUX Holdings International Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500587.pdf
Computime Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500653.pdf
Elegance Optical International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600015.pdf
Sa Sa International Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600457.pdf
China Yurun Food Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600640.pdf
Kingmaker Footwear Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600972.pdf
Morris Home Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601042.pdf
Intron Technology Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601070.pdf
Lee’s Pharmaceutical Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601094.pdf
Carpenter Tan Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601196.pdf
Wuling Motors Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601228.pdf
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Industrial Goods
eprint Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400340.pdf
Sany Heavy Equipment International Holdings Company Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400418.pdf
Precision Tsugami (China) Corporation Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500466.pdf
Kingboard Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500745.pdf
Kingboard Laminates Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500747.pdf
Pan Asia Environmental Protection Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600410.pdf
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Services
Emperor Entertainment Hotel Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200637.pdf
S.A.I. Leisure Group Company Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300754.pdf
China MeiDong Auto Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0713/2021071300794.pdf
The Sincere Company, Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400001.pdf
Clear Media Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400682.pdf
Hypebeast Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500846.pdf
National United Resources Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071501095.pdf
Asiaray Media Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071501255.pdf
Vobile Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600101.pdf
Jiahua Stores Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600213.pdf
Anxian Yuan China Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600240.pdf
Sino-Life Group Limited
https://www1.hkexnews.hk/listedco/listconews/gem/2021/0716/2021071600436.pdf
CCT Fortis Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600768.pdf
Best Mart 360 Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071601045.pdf
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Information Technology
CMON Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400009.pdf
Bairong Inc
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071501147.pdf
Kuaishou Technology
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600876.pdf
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Financials
LFG Investment Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200420.pdf
China Bohai Bank
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071400238.pdf
Bright Smart Securities & Commodities Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0715/2021071500683.pdf
G-Resources Group Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600450.pdf
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Utilities
Beijing Jingneng Clean Energy Co., Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200397.pdf
CGN New Energy Holdings Co., Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200449.pdf
China Nuclear Energy Technology Corporation Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0712/2021071200467.pdf
Canvest Environmental Protection Group Company Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0714/2021071401200.pdf
Beijing Enterprises Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600684.pdf
Tonking New Energy Group Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/gem/2021/0716/2021071601078.pdf
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Telecommunications
Pangaea Connectivity Technology Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600672.pdf
GBA Holdings Limited
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0716/2021071600782.pdf
