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Best Corporate Governance and ESG Awards

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The Institute is proud to be launching the revamped Best Corporate Governance and ESG Awards ("Awards"), previously known as Best Corporate Governance Awards.

 

The new Awards recognize that investors and other stakeholders are more and more interested in how listed companies and major public sector organizations are addressing issues such as climate change and other environment and social concerns that may affect their businesses and services. This change also acknowledges that, in keeping with, and partly driven by, the changing expectations of the community, the regulatory requirements in relation to environmental, social and governance (ESG) reporting have become more detailed and extensive.

 

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, more recently also, sustainability/ ESG practices and reporting, among listed companies and public sector/ not-for-profit organizations in Hong Kong. They raise awareness of the need for companies to be transparent and accountable to their shareholders and other stakeholders, and also alert the community to current CG and sustainability/ ESG 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.

 

New features of the Awards include:

  • The top accolades, namely, the Most Sustainable Companies/ Organizations Awards, will be presented to those listed companies and public sector organizations 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. Reflecting different levels of achievement in this part of the competition, there will be Diamond, Platinum, Gold Awards, as well as Special Mentions.

 

  • There will continue to be awards specifically for CG and ESG, and different aspects of these. These awards will acknowledge companies and organizations that perform particularly well in either one of these two areas. Two different levels of recognition will be given for high-quality performances in CG or ESG , namely CG/ ESG Award or Special Mention.

 

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Categories of awards

Awards will be presented in seven main categories:

  1. Hang Seng Index ("HSI")-constituent companies

Non-HSI-constituent companies:

  1. Large market capitalization
  2. Medium market capitalization
  3. Small market capitalization
  4. H-share companies and other Mainland enterprises

Public sector/Not-for-profit organizations:

  1. Large
  2. Small and medium

 

  • Commendations for Website Corporate Governance Information will be awarded to listed companies and public sector organizations for high-quality and timely disclosures of relevant information on their websites that are indicative of good CG practices.

 

  • There are also Self-Nomination Awards, aimed at smaller listed companies, with a market capitalization of no more than HK$9 billion, as at 30 April 2021, as well as public sector/ not-for-profit organizations. Applicants for Self-Nomination Awards are invited to apply to be considered for this award, using the online form, by explaining the measures that they have taken to upgrade their CG and ESG practices 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 Awards assessment criteria and marking sheets to take account of changes in local regulations, relevant international developments and the evolving expectations of the community.

 

 

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Entry procedure

The judging criteria and application process are explained in the brochure inviting entries for the Awards. There is no fee for entering Awards 2021, and there are opportunities for recognition to be achieved and reputations to be enhanced. The submission deadline is 9 August 2021.

 

For Self-Nomination Awards, a separate form needs to be completed and returned together with the entry form.

 

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