Roadmap for ESG Development for Logistics Industry announced to enhance competitiveness
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Green and sustainable development is one of the directions that the Government has specified for the way forward for the logistics industry in the Action Plan on Modern Logistics Development announced in October 2023. To promote the development of green and sustainable logistics, the Government has committed in the Action Plan to formulating a clear ESG roadmap for the industry to assist logistics enterprises in meeting international ESG requirements progressively. Upon conducting a consultancy study, the TLB has worked out the Roadmap by taking into account international ESG standards and current market developments while working in consultation with the Hong Kong Logistics Development Council and various organisations and players in the industry.
The Roadmap covers a three-year period from 2025 to 2027 and adopts a three-stage approach for logistics SMEs to build up their capabilities to collect and report ESG data, thereby meeting the most stringent prevailing international ESG disclosure requirements by the time the Roadmap expires. The first stage involves raising logistics SMEs' awareness of ESG principles and international ESG requirements, the second stage involves equipping logistics SMEs with the capability to collect and record logistics ESG data, while the third stage aims to prepare logistics SMEs for ESG reporting, which is foreseen to be a possible international requirement in the next phase of ESG development.
A spokesperson for the TLB said, "ESG has become an international trend, with the European Union having already made ESG disclosures along the whole supply chain compulsory for enterprises from this year onwards, and the Mainland also formulating its own ESG disclosure standards that are planned to be applicable to all companies, including SMEs, by 2030. Therefore, for Hong Kong logistics SMEs, which are well-plugged into the global supply chain, ESG adoption is no longer an option but an essential step for their survival and maintenance of their global competitiveness. We hope that the Roadmap will provide logistics SMEs with an easy-to-follow guide to embark on their ESG journey and help to enhance the competitiveness of our logistics industry, thereby consolidating Hong Kong's position as an international logistics hub.
"Promotion and training will be crucial for logistics SMEs to reach each of the aforesaid stages of the Roadmap. In this connection, the TLB will collaborate with and encourage industry players, trade associations, professional bodies and training institutions to provide necessary support to deliver the Roadmap," the spokesman added.
As the next step, the TLB will promote the adoption of the Roadmap in association with industry stakeholders, and will review and update the Roadmap in a timely manner ahead of its expiry with reference to the prevailing international ESG requirements, among others, to help logistics SMEs to continue to be ESG-compliant.
Apart from the ESG Roadmap, the TLB also launched today a dedicated online ESG resource centre on the website of the Council, which serves as a one-stop portal for information related to ESG for reference by logistics companies in Hong Kong. In addition, to assist logistics SMEs in starting their ESG journey, the TLB will launch within this year a set of ESG data collection tools that will facilitate effective collection and recording of logistics ESG data essential for compliance with international ESG disclosure requirements by SMEs.
The ESG roadmap has been uploaded to the TLB's website.
Ends/Wednesday, June 18, 2025
Issued at HKT 10:30
Issued at HKT 10:30
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