Fuji Xerox sees firms rushing to meet sustainability disclosures

Fuji Xerox, the biggest supplier of office printers and document management systems in Asia-Pacific, is predicting a rush of listed Hong Kong firms to start investing in advanced programmes to help them comply with more stringent environmental, social and governance (ESG) reporting in the city.

It is a development that Tokyo-based Fuji Xerox has prepared for since September last year, when the company introduced a cloud-based enterprise management service that streamlines the ESG reporting process.

Hong Kong Exchanges and Clearing, which operates the local bourse, last year made it mandatory for the more than 1,700 companies listed the city to make general disclosures on their ESG policies.

From this year, all Hong Kong-listed firms must make further disclosures on measurable key performance indicators of ESG targets and achievements. Failure to comply will require companies to explain why they did so.

“We expect huge demand in coming months, as more listed companies in Hong Kong get serious about their ESG disclosure,” Fuji Xerox Hong Kong managing director Herbert Hui told the South China Morning Post.

While office automation rivals Fuji Xerox, Canon and Ricoh each offer solutions and consultancy services for businesses to cut down on their paper, power and carbon footprint, Hui said the “iESG” platform developed by Fuji Xerox in Hong Kong is the sole cloud service now available for listed companies to push forward their internal and external ESG disclosure efforts.