Best Corporate Governance and ESG Awards
The Institute is proud to be launching the Best Corporate Governance and ESG Awards ("Awards") 2023 (previously known as Best Corporate Governance Awards). The Awards reflect the importance of both good CG and environmental, social and governance (“ESG”) reporting and practices for listed companies (“companies”) and public sector / not-for-profit organizations (“PSOs”), and their investors and stakeholders. They encourage companies and PSOs to achieve high standards of CG and ESG and, as far as possible, to integrate the oversight and implementation of their CG and ESG into their values, strategy and operations.
The Awards continue to enjoy strong support from a wide range of stakeholders, including the HKSAR Government, financial market regulators, investor groups, professional associations and firms, the business community and academics. Since their inception in 2000, the Awards have played an important role in establishing benchmarks and encouraging improvements in standards of corporate governance ("CG") and, since 2011, also, in relation to sustainability/ ESG practices and reporting, among listed companies and PSOs in Hong Kong. They raise awareness of the need for companies to be transparent and accountable to their shareholders and other stakeholders, and also inform the wider community about current CG and sustainability/ ESG standards and developments in Hong Kong.
The Awards focus primarily on voluntary practices and disclosures that go beyond the minimum legal and regulatory requirements, as reflected in annual reports and sustainability/ corporate social responsibility/ ESG reports (“sustainability reports”).
Features of the Awards include:
- The top accolades, namely, the Most Sustainable Companies/ Organisations Awards, will be presented to those listed companies and PSOs that demonstrate the overall best practices in both CG and ESG, with equal weight being allocated to these two areas, and which are moving towards fuller integration of these elements. Diamond, Platinum and Gold Awards, as well as Special Mentions, are available in this part of the competition to reflect different levels of achievement.
- There will also continue to be awards specifically for CG and ESG. These awards acknowledge companies and organisations that demonstrate a high standard of performance in either one of these two areas. Two different levels of recognition, namely CG or ESG Award, or a Special Mention, are available in these categories of awards.
Note:
Awards will be presented in seven main categories:
(i) Hang Seng Index ("HSI")-constituent companies
Non-HSI-constituent companies:
(ii) Large market capitalisation
(iii) Medium market capitalisation
(iv) Small market capitalisation
(v) H-share companies and other Mainland enterprises
Public sector/Not-for-profit organisations:
(vi) Large
(vii) Small and medium
- There are also Self-Nomination Awards, aimed at smaller listed companies, with a market capitalisation of below HK$6 billion (as at 28 April 2023), as well as PSOs. Applicants for Self-Nomination Awards are invited to apply to be considered for these awards, using the online form. They should explain the good practices that they have introduced and disclosed in their annual and/ or sustainability report during the period under review. They may also be invited to attend an interview to discuss their CG and ESG policies and practices in more detail.
In addition to introducing other changes and new features, the Institute regularly reviews and refines the detailed assessment criteria and allocation of marks to take account of changes in local regulations, relevant international developments and the evolving expectations of the community.
Entry Procedure
The judging criteria and application process are explained in the brochure (see the icons at the top of this page) inviting entries for the Awards. There is no fee for entering Awards 2023, and there are opportunities for recognition to be achieved and reputations to be enhanced. The submission deadline is 3 August 2023.
