Market Turnover
-






-
-
|
|
|
|
|
|
-
-
-
Loading

Review of ESG progress
ESG issues are dynamic and constantly evolving. Even where ESG-related risks have been prudently identified and measures have been put in place, policy or socioeconomic changes may affect the feasibility and effectiveness of such measures.

In particular, ESG-related targets often extend across several reporting periods, and it takes time for the measures deployed to address ESG-related issues to show their impact. Periodic reviews of ESG progress keeps the management informed as to whether the company is on track to achieve its ESG-related targets and goals and to evaluate the effectiveness of the measures.

Review of ESG progress:
Role of the Board

Commentary

Geely Automobile Holdings Limited (00175), Environmental, Social and Governance Report 2023
 
(p.10)

 

The Sustainability Committee meets at least once a year.  The meetings are also regularly attended by key management personnel of the Group and parties involved in the ESG governance structure, to jointly discuss the Group's ESG development plans and specific implementation measures.


The Sustainability Committee held 1 meeting in April 2024 the to further discuss the Group’s work on: 

  • ESG performance analysis and key enhancements for 2023; 
  • Improvement plans for key enhancements (including: climate change and carbon target management, human rights risk management, and responsible supply chain management) across relevant departments;


Based on the above discussions, the Sustainability Committee made recommendations to the Board on significant matters for further approval…the Board also participated in the ESG work as described below: 

  • Received regular reports on ESG work to keep abreast of the progress and achievements of the Group’s ESG work, the scope for future enhancement and plans (including climate change, human rights, responsible supply chain, independence and diversity of the Board, and remuneration mechanism), as well as the expectations of stakeholders such as regulators, investors, on the sustainability of the Group, in order to identify relevant risks and opportunities;
  • Participated in the ESG research for the year, which includes: identification of ESG material issues, identification of human rights risks, expectations and recommendations for ESG development; 
  • Made decisions on key ESG issues such as ESG strategy, carbon neutral progress and targets, and corporate governance enhancement.

 

Commentary

The issuer has established a board-level Sustainability Committee monitor the progress of issuer’s ESG development plans regularly, and make recommendations to the board for the formulation of strategic sustainability direction. 

In addition, the board was involved in reviewing ESG performance and making decisions on key ESG matters such as carbon neutral progress and targets. These disclosures demonstrate the board’s oversight of key ESG plans to ensure alignment with the issuer’s overall strategic direction, which enable stakeholders to have a better understanding of the board’s commitment to long-term sustainable development.
 

Review of ESG progress:
Role of the Board

Commentary

Dah Sing Banking Group Limited (02356), Environmental, Social and Governance Report 2023
 
(p.13)

The Board reviews progress reported by the ESG Committee twice a year. ESG performances and relevant climate and sustainability-related KPIs are monitored, measured and reported to the Board to assess progress made against ESG-related goals and targets. The Board also oversees the completeness and disclosure quality of the ESG report (including the materiality assessment findings). Progress update on the implementation of GSB and climate-related issues are regularly tabled to the Board for discussions, including in the June and December meetings in 2023. Areas of discussions typically include regulatory updates on GSB development in Hong Kong and the GSB implementation progress of the Bank.

dah sing_13

 
 
 
Note: GSB denotes Green and Sustainable Banking

 

Commentary

The issuer had a dedicated committee to assist the board in assessing progress against ESG-related goals and targets. It described the frequency of which the board is informed of ESG progress updates, and the interaction between the board and the ESG committee to ensure effective implementation of ESG-related policies.

Review of ESG progress:
Tracking progress against targets set

Commentary

Swire Properties Limited (01972), 2023 Sustainability Report
 
(p.16)

 

swire_16_1350 

 

 

Commentary

The issuer has identified five strategic pillars under its sustainable development strategy; and set two to four short-term targets to be accomplished by 2025 (2025 KPIs) for four of these strategic pillars. 

Each strategic pillar was assigned a different colour, and progress achieved during the reporting year was benchmarked against 2025 KPIs. The information was presented in a clear and structured manner, using numerical figures and percentages to effectively demonstrate the issuer’s sustainability efforts and progress to readers. Setting measurable KPIs and disclosing progress in a quantitative manner facilitated readers’ evaluation of the effectiveness of the policies or measures adopted, and credibility of targets set. 
 

Review of ESG progress:
Tracking progress against targets set

Commentary

MTR Corporation Limited (00066), Sustainability Report 2023
 
(p.19)

We have set forth three environmental and social objectives (“E&SO”) which are both material to our business and to society: (1) fostering social inclusion, (2) providing advancement and opportunities to empower people and communities and (3) reducing greenhouse gas emissions. Under these three E&SO, we have clearly defined 10 focus areas and a set of key performance indicators (“KPIs”) that will concentrate our efforts in the areas in which we can create a greater impact for society. They illustrate our approach to further embedding environmental and social principles within the Corporation to ensure that we deliver value for all of our stakeholders.

MTR_p19_1000

 


(p.20-25)

In 2023, we developed a set of 44 KPIs, consisting of short-, medium- and long-term initiatives, to gauge and drive our performance under the three E&SO. As of December 2023, most of the KPIs have either been achieved or are on track to being achieved. Our performance against these KPIs is detailed below.
 

MTR_p20

...

 

MTR_p21

...

MTR_p22

 

...

 
This year, we have identified a new set of KPIs to continue our efforts to drive the three E&SOs for 2024 and beyond. All the 43 KPIs, including both new and on-going items are listed below.

 

MTR_p23_1000 

 

MTR_p24_1000 

 

MTR_p25_1000 

 

 

Commentary

The issuer identified ten focus areas for three material environmental and social objectives with an aim to creating a greater impact for its business and society. In respect of each objective, it set out clear short-, medium- and long-term key performance indicators (KPIs) and status update. Based on the progress review for the reporting year, the issuer developed a new set of KPIs to drive its sustainability efforts in the coming years, which demonstrated its ongoing efforts to create a positive impact. 

There was a detailed overview of the issuer’s sustainability priorities and progress across different environmental and social dimensions, demonstrating the issuer’s commitment towards sustainability in a wide range of aspects beyond environmental or climate issues.