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An online carbon footprint repository (CFR), which enables listed companies in Hong Kong to disclose their carbon footprints and share successful stories on carbon management and practices, was officially launched today (December 15).
The CFR, in the form of a dedicated website (www.carbon-footprint.hk), was developed by the Environment Bureau (ENB).
At a launch ceremony co-organised by the ENB and Hong Kong Exchanges and Clearing Limited (HKEx) today, certificates were presented to 64 listed companies in recognition of their first-mover contributions and efforts in auditing their carbon footprints and disclosing their carbon data through the CFR.
Officiating at the launch ceremony, the Secretary for the Environment, Mr Wong Kam-sing, said that through carbon audits, listed companies could obtain a clear account of the amount of greenhouse gases emitted as a result of their operation, and this would help the companies to identify effective emission reduction measures.
"Climate change poses an unprecedented, global challenge for everyone. Being part of the international community, Hong Kong should contribute to the solution, and there are higher expectations of the Government as well as large corporations such as listed companies in Hong Kong," Mr Wong said.
The 64 listed companies (see Annex) joining the carbon disclosure initiative include more than 20 companies which are among the top 100 in terms of market capitalisation in Hong Kong. These listed companies come from different sectors, including property and construction, consumer services, financials, consumer goods, industrials, utilities, information technology, materials and telecommunications sectors.
"I am pleased to see that so many Hong Kong listed companies from different backgrounds have disclosed their carbon footprint information and shared their successful experiences in carbon management and practices through the CFR's dedicated website. They have taken the initiative and played an important role in transforming Hong Kong into a green and low-carbon economy. The Government will continue to encourage more listed companies in Hong Kong and also their subsidiary companies, tenants, supply chain companies and more to join the global efforts in combating climate change," Mr Wong said.
Speaking at the launch ceremony, Chief Regulatory Officer and Head of Listing of HKEx, Mr David Graham, expressed his support for the CFR dedicated website developed by the ENB. He reiterated that the Environmental, Social and Governance (ESG) Reporting Guide published by HKEx in 2012 encourages listed companies in Hong Kong, as a recommended practice, to report on, among other things, their carbon emissions and intensity, and to describe the measures adopted in mitigating emissions and the results achieved.
Representatives of CDP (formerly the Carbon Disclosure Project) and Bloomberg LP also emphasised in their presentations that corporate social responsibility, which includes environmental, social and governance issues, is becoming an important theme in the business community. A key driver for adopting ESG practices and reporting is the growth of responsible investment as more investors have started incorporating ESG criteria into their valuations and investment strategies.
Also officiating at today's ceremony was the Under Secretary for the Environment, Ms Christine Loh.
In parallel to the development of the CFR, the Government has also set up a free supporting helpdesk service (email: helpdesk@carbon-footprint.hk; Tel: 3568 4078) to handle enquiries and offer technical advice on carbon auditing and carbon disclosure to all listed companies in Hong Kong.
More information is available on the CFR dedicated website (www.carbon-footprint.hk).
Ends/Monday, December 15, 2014
Issued at HKT 16:06
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