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To maintain and uphold high standards of corporate governance by adopting ESG governance policy and risk management policy to be in line with international and local corporate governance best practices for achieving sustainable governance.
Maintained AA+ rating in the 2022/2023 assessment of the Hang Seng Corporate Sustainability Index Series
First local bank committed to setting science-based targets (SBT)
Hang Seng Indexes Company received ‘Best ESG Index Provider – Hong Kong’ and ‘Most Innovative Index – Hong Kong’ awards at Asia Asset Management’s Best of the Best Awards 2022
Being recognised as "the Leading Employer for Professional Qualifications-recognised Banks 2022/2023" by The Hong Kong Institute of Bankers
We have established a high-level ESG Steering Committee, chaired by our Executive Director and Chief Executive, and reportings to the Executive Committee and the Board. The Steering Committee is supported by four Working Groups (ESG Strategy, Environmental, Corporate Social Responsibility and ESG Disclosure), each led by a member of the Bank’s Executive Committee. We have also set up a dedicated ESG Department to manage ESG issues from a bank-wide strategic perspective.
For details of our corporate governance, please visit our corporate governance page.
The Bank places great importance on Environmental, Social and Governance (ESG) matters and this importance continues to grow. 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 that have been identified as relevant to the Bank by the Executive Committee on the recommendation of the ESG Steering Committee.
In 2021, the Bank also implemented annual ESG key performance indicators (KPIs) and action plans that establish clear accountabilities for different business units and functions while encouraging Bank-wide action to embed ESG as a part of our corporate culture. To provide effective guidance and oversight, the Board of Directors set the Bank’s ESG strategies and KPIs, and proactively monitored and oversaw its ESG performance through updates from the management team at least twice a year.
Among all ESG-related risks, the Bank considers those related to climate change to be a top and emerging risk. The acceleration of actions to strengthen our climate risk management capabilities in 2021 include formalising our climate risk management structure; organising climate risk training for the Board including identifying risks and opportunities associated with climate change and maintaining awareness about international agreements and national policies on climate change; and incorporating environmental considerations, such as climate risk, in the Bank’s risk appetite for proactive monitoring and oversight.
Mitigating climate risks requires action along our entire value chain. To assist our customers transition to a low-carbon economy and achieve carbon neutrality, we are continuing to expand the diversity and range of our sustainable finance and investment product offerings to meet the different needs of customers.
To uphold high standards of corporate governance, we implement various ESG policies in our daily operations and financing.
In addition, we observe the following parent company's policies:
3rd quarter of 2022:
2nd quarter of 2022:
1st quarter of 2022: