Environmental, Social and Governance (ESG)

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Our ESG achievements

Hang Seng is the only bank in Hong Kong that is a constituent of the FTSE4Good Developed Index.

Board Statement

The Board takes overall responsibility for ESG matters and their integration into the Bank’s strategies. It guides the management and monitoring of ESG matters, which have been identified as relevant to the Bank by the Executive Committee based on the recommendation of the newly-formed ESG Steering Committee.

Our ESG vision

Hang Seng Bank aspires to become a leading entity to drive ESG in the banking industry. To achieve this, we are stepping up the consideration and inclusion of ESG issues with respect to our products, services, operations and disclosures.

We are aware that we need to continue to broaden the variety of our products and services, as well as increase our contribution to tackling issues that require a global response. In particular, we shall focus on sustainable finance that addresses one out of many major and urgent challenges of climate change.

Our ESG Strategy

Hang Seng Bank is now more ESG-focused. Watch the video to learn more about our ESG implementation plan for 2021 and beyond.

Our ESG key pillars

Our ambition is to achieve carbon-neutrality for our operations by 2030. Accordingly, we have established targets to reduce our electricity consumption and Scope 2 greenhouse gas emissions and to source electricity from renewable energy schemes hosted by local providers. We have also set short, medium and long-term targets for water consumption, paper consumption, greenhouse gas emissions, and waste reduction and recycling.  

We support our community’s transition to a low carbon economy with sustainable finance solutions and ESG-focused investment choices.

Our Green Financing Promotion Scheme encourages corporate customers to acquire environmentally friendly equipment that contributes to sustainable development. In 2020, we also launched a Greenness Assessment programme to support their green loan applications, with second opinions and green credentials provided by a qualified third-party verifier.

We have been practicing corporate social responsibility by investing more resources in our younger generation, help them to achieve shared goals.

We have adopted our parent company HSBC’s strategy to support the goals of the Paris Agreement. We are strengthening our risk management capabilities. We will manage the Bank’s credit exposure to climate sensitive industries and support our customers in their transition to a low-carbon economy.

We aim to earn recognition as an ESG leader from the community, investors and government bodies. We strive to set a good example by continually improving our performance and participating in events like WWF HK and the Business Environment Council’s corporate membership programmes to demonstrate our commitment to protect our community and planet. 

We also launched the ESG Bite-Sized Learning video series to raise public awareness of ESG matters.

We have implemented the internationally recognised standards for ESG disclosure and we are the first home-grown bank in Hong Kong to sign up as a supporter of the Task Force on Climate-related Financial Disclosure (TCFD).

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