Two out of 3 Larger Bay Segment companies have followed sustainable practices, with ESG investments eager to achieve US$128 billion in nearest two years: survey newsfragment


Two out of 3 companies within the Larger Bay Segment have followed sustainable construction practices of their trade operations, and investments with regards to environmental, social and governance (ESG) via such enterprises may just achieve HK$1 trillion (US$127.8 billion) over the nearest two years, in line with a record via the Hong Kong Business Building Council (HKTDC) and UOB.
Probably the most usual inexperienced practices, followed via 65 in step with cent of the bay branch companies, had been recycling of sources, selected via 29 in step with cent of respondents, adopted via worth of unpolluted power at 27 in step with cent, in line with the “Sustainability in the GBA: unlocking opportunities and empowering growth” record immune on Thursday afternoon.
“As sustainable development has become increasingly important, GBA-based businesses have become ever more committed to implementing ESG-related strategies in their daily operations and across various aspects of their businesses,” stated HKTDC analysis director Irina Fan at a media briefing on the origination of the record.

Over 90 in step with cent of GBA enterprises meant to extend or preserve their ESG investments within the nearest two years, in line with the result of the survey. Some 30 in step with cent of respondents had been making plans an building up date 64 in step with cent anticipated to preserve investments at their tide ranges.

On moderate, companies within the bay branch anticipated to allocate the cheap of HK$370,000 to ESG projects over the nearest two years. With round 3 million enterprises within the zone as of 2022, general ESG-related investments are projected to lead HK$1 trillion over the nearest two years, in line with the record.

01:07

US order envoy John Kerry meets China’s lead diplomat Wang Yi in original bid to fix frayed ties

US order envoy John Kerry meets China’s lead diplomat Wang Yi in original bid to fix frayed ties

The web survey via the HKTDC and UOB, a Singaporean vault, used to be carried out in July and August this pace on 300 enterprises around the production and repair industries primarily based within the 11 bay branch towns. This incorporated 150 respondents from the 9 mainland towns, 120 from Hong Kong and 30 from Macau. In-depth interviews had been additionally carried out with execs within the GBA throughout other sectors.

The Larger Bay Segment (GBA) is the Chinese language executive’s scheme to hyperlink the ones towns right into a plenty built-in financial and trade hub.

In Prominent Govt John Lee Ka-chiu’s 2023 coverage deal with on Wednesday, he defined measures to deepen monetary cooperation within the GBA, a part of efforts to support town’s competitiveness as a monetary centre.

Those incorporated foundation the Shenzhen-Hong Kong monetary cooperation committee with the Shenzhen government within the first part of 2024. The committee would advise and deal ideas to strengthen mutual get admission to to the monetary markets, cooperation on monetary applied sciences and inexperienced finance, in addition to the trade of monetary ability, in line with the coverage deal with.

Measures comparable to those would unquestionably backup to force investments with regards to ESG within the Larger Bay Segment, stated HKTDC’s Fan.

Nearly the entire surveyed GBA enterprises (99.7 in step with cent) deliberate to include or building up the extent of ESG components of their operations over the nearest two years. Some 84 in step with cent stated they might pay extra consideration to the sustainable construction in their manufacturing processes and control procedures as a concern, date 78 in step with cent stated they might have their sustainable merchandise or services and products qualified.

Amongst companies that had followed inexperienced practices, 98 in step with cent reported a good have an effect on on their companies. Enhanced recognition and status of the corporate, in addition to stepped forward potency and value discounts, had been the lead advantages for 75 in step with cent of them.

Round 70 in step with cent of respondents stated they might believe the usage of extra inexperienced services supplied via Hong Kong within the nearest two years.

“Hong Kong, with its complete financial ecosystem and capital raising experience, can provide green financial services and investment opportunities for firms in the Greater Bay Area, to help the GBA become a green financial centre,” stated Brian Lam, well-known monetary officer and well-known sustainability officer of UOB Hong Kong on the media briefing.


Leave a Reply

Your email address will not be published. Required fields are marked *