Vital new tool for assessing corporate environmental, social and governance measures, with technical support by PwC
HONG KONG, CHINA - MediaOutReach - 11 March 2019 - Green Council today unveiled a new online evaluation platform-- the Sustainability Assessment -- for grading corporate environmental, socialand governance (ESG) maturity levels.
The innovative platform willallow companies to comprehensively assess their ongoing ESG contributions -- recognisingand encouraging sustainability practice in the corporate sector. The SustainabilityAssessment was developed alongside PwC, which provided technical advice on the developmentof the system's framework and methodology.
"The Sustainability Assessment isa great new tool to help companies assess their own ESG practice. What thismeans is that executives can now accurately evaluate the ESG performance andmaturity levels of their organisation in order to make thorough, clear comparisonsto past performance -- and to consider and make improvements where necessary,"said Green Council CEO Linda Ho.
"Meanwhile, as a standardised assessmentand rating system, the Sustainability Assessment can give investors a credibleand more transparent overview of the ESG performance of a company, allowing themto make more responsible investment decisions."
Dozens of business leaders wereintroduced to the Sustainability Assessment at today's official launch ceremonyand cocktail reception, hosted at The Rotunda, Exchange Square andattended by Katherine Ng, Managing Director, Head of Policy, Listing, Hong KongExchanges and Clearing Limited.
The Sustainability Assessment is acomprehensive ESG performance rating which aims to act as a bridge betweenfirms and investors, by evaluating the maturity levels of companies' sustainabilityperformance, according to a rigid set of ten principles, considering factorsincluding top management involvement, sustainability strategies, environmentimpact, employee and customer rights and community contributions.
The tool helps further GreenCouncil's ongoing goal of promoting sustainability practice to corporations,ultimately leading the way to a greener, more sustainable Hong Kong.
"There is an increasing demandfrom investors to have access to quality and reliable ESG information to maketheir risk assessment and investment decisions," said Sammie Leung, PwC RiskAssurance Partner.
"PwC is delighted to be thetechnical advisor of the Sustainability Assessment, launched today by the GreenCouncil. The assessment tool is designed to give companies a diagnostic view ofhow their current ESG practices are doing when compared to market expectationsand good practices. The assessment result is aimed at helping companies tobetter strategise and plan around how to enhance their ESG performance."
The Sustainability Assessment buildson a growing demand for companies to accurately report ESG measures, in thewake of recent trends set by Hong Kong Exchanges and Clearing Market (HKEx), GlobalReporting Initiatives (GRI), and growing international awareness. It willcontinue to be enhanced and updated over time to match the growing regulatoryexpectations of ESG disclosure.
Participating companies willdemonstrate their ESG credentials by completing an intuitive onlinequestionnaire, submitting relevant supporting documentation and, wherenecessary, completing a follow-up interview. After the information is verified,a full assessment report will be issued, presenting a diagnostic view of thecompany's level of maturity in sustainability practice, as well as areas wherethe candidate performs well and areas where improvement is needed. Completingthe Sustainability Assessment will demonstrate a company's commitment toplaying a leading role in industry sustainability performance, and helpstrengthen deserved brand reputations.
About Green Council
The Green Council (GC) is anon-profit environmental association and certification body based in Hong Kong.Our founders have long envisioned that the environment must be protected notonly by the government or the general public, but by corporations as well. Weare striving to strengthen the image of Hong Kong as a city that gives highimportance to environmental protection and corporations ESG performance.
All proceeds from theSustainability Assessment will be applied towards Green Council's currentenvironmental programme for schools and the general public, as well as researchin support of our climate change programmes and waste management initiatives.
For more information, see: www.greencouncil.org
For the Sustainability Assessment online platform,see: https://www.greencouncil.org/sustainability
For event photos, please click HERE.