Lenovo Group Ltd. and Swire Properties Ltd. ranked highest in corporate sustainability among companies registered in Hong Kong, according to a report released on Tuesday.
Asia-wide, India’s Tata Consultancy Services (TCS) got the top score in the report prepared by research research firm Sustainalytics with cooperation with Channel NewsAsia and consultancy firm CSR Asia, which picked the region’s top 100 companies on the basis of their performance in environmental protection, social responsibility and corporate governance.
City Developments Ltd. of Singapore ranked second, followed by Unilever’s Indonesia unit, the report said. Regionwide, Lenovo was fifth while Swire ranked 16th.
The ranking focuses on Asian companies listed on major stock markets and was made through examination of a wide range of sources from regulatory filings to direct communication with key stakeholders.
Only 12 Hong Kong-registered firms are included in the top 100, compared with 28 from South Korea, 22 from Taiwan and 17 from India. China Vanke Co. Ltd. and BOE Technology Group are the only two firms that represent mainland China on the list.
Industry insiders note that the ranking does not imply that Hong Kong business owners are less responsible than their Korean counterparts, but it is based on multi-level criteria and indices.
Many enterprises in Hong Kong, especially the large ones, care a lot about their social responsibilities, but the situation is not so good as far as many small businesses are concerned, Christine Ng, donor development officer of Oxfam Hong Kong, told EJ Insight.
Companies and individuals also adopt various means to support social responsibility projects. “Since about three years ago, many companies have started setting up special fundraising mini-websites during business events such as office opening or anniversaries,” Ng said.
“Accepting valuable gifts from business partners during such occasions may sometimes cause trouble as the value may exceed the legal limit, so they prefer that business partners donate through our website,” she added.
– Contact us at [email protected]