Corporate social responsibility (CSR) in Hong Kong is becoming increasingly high-profile for financial services firms and banks.
Nowhere is this more apparent than in the annual financial reports of listed banks in Hong Kong. Mainland-backed Citic Ka Wah Bank has gradually devoted more space in its annual reports to highlight its CSR initiatives.
In its report for 2006, it devoted four full-colour pages to its youth development, community services and charity work that its staff undertook during the year. This was up from none just five years before.
The bank's alternate chief executive and chief operating officer, Ling Chung-yan, said its CSR initiatives had become more co-ordinated over the years.
'It's not only about the money, it's not only about staff time, it's about inculcating the idea of CSR into the company culture. We have young staff who mentor other people, especially in China, who don't have access to the type of financial knowledge they need to succeed in the industry. We want to encourage a continuous cycle of CSR programmes throughout our workforce, not only in Hong Kong but overseas as well.
'We have always participated through making contributions but things were not well organised. However, at the end of 2006 we formed a CSR committee, which works in conjunction with the Staff Recreation Club. This helps ensure active staff participation in our CSR programmes,' Mr Ling said.