Corporate social responsibility highly valued by Hong Kong listed companies
The performance of the 50 constituent companies of the Hang Seng Index in the areas of corporate social responsibility (CSR) has greatly improved, according to results from the 2016 Hong Kong Business Sustainability Index (HKBSI).
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The performance of the 50 constituent companies of the Hang Seng Index in the areas of corporate social responsibility (CSR) has greatly improved, according to results from the 2016 Hong Kong Business Sustainability Index (HKBSI).
The Sustainability Management Research Centre (SMRC) at PolyU’s Department of Management and Marketing released the HKBSI for the second year recently, supported by the efforts of the Hong Kong Council of Social Service and the Hong Kong Productivity Council.
The HKBSI utilised a value-practice-impact assessment model to evaluate 50 constituent companies of the Hang Seng Index (as at 6 June 2016) based on their performance in the areas of CSR values, CSR process (comprising CSR management and practices) and CSR impact, as well as each company’s contributions to economic, social and environmental sustainability.
The HKBSI utilised a value-practice-impact assessment model to evaluate 50 constituent companies of the Hang Seng Index (as at 6 June 2016) based on their performance in the areas of CSR values, CSR process (comprising CSR management and practices) and CSR impact, as well as each company’s contributions to economic, social and environmental sustainability.
The overall average HKBSI score for 2016 was 45.73 on a 100-point scale, up 9.53% from 2015. The average score of the top 20 Index companies was 68.82, up 20.21% for the year, showing significant improvement. The results reflected that companies have been increasingly concerned about business sustainability and have channelled more efforts into the implementation of CSR practices.
Prof. Carlos W.H. Lo, Professor at the Department of Management and Marketing and Director of the SMRC, commented that “the increase in CSR awareness in society and among consumers has propelled listed companies to increase their CSR efforts. The growing popularity of corporate sustainability indices and related CSR awards in the market have also made companies realise that CSR is no longer merely a public relations activity, but instead has strategic importance for long-term business sustainability”.
The HKBSI is compiled annually by the SMRC with an updated list of constituent companies to ensure constant monitoring of CSR performance and development, providing a benchmark for CSR practices in both the local and international business communities.
