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Follow on Google News | PolyU launches the Hong Kong Business Sustainability IndexHKBSI aims at encouraging companies listed in Hong Kong to adopt corporate social responsibility (CSR) as a progressive model for achieving business sustainability. Based on the publicly available information on CSR and sustainability of the fifty constituent companies of the Hang Seng Index (HSI) as of 17 March 2015, SMRC assessed the performance of individual company in three areas: CSR values, CSR practice and CSR impact, as well as their contributions to economic, social and environmental sustainability. In future, SMRC will compile the HKBSI and announce the results on an annual basis in order to monitor the on-going development and performance of companies on business sustainability, with an updated constituent companies list of the HSI. In the ceremony, Professor Timothy W. Tong, President of PolyU said, "Sustainable development is one of the major focuses of education and research in PolyU. We have been engaged with different sectors of the society to maintain and improve socio-ecological health and our social well-being in a systematic and collaborative ways". Professor Tong cited that SMRC has leveraged the resources of the Faculty of Business and its partners on innovative research related to sustainability management. "We will make continuous effort on knowledge transfer and entrepreneurship promotion with the purpose of fostering sustainable development of a wider community." He added. Mr. Bernard Chan, Chairperson of HKCSS said "Over the past few years, there is a significant growth in the number of Hong Kong companies released sustainability- As one of the strategic partners of this index project, Mr. Stanley Lau, Chairman of HKPC believed that for industrial and commercial development to be sustainable, enterprises must address critical issues at the macro level, such as economic efficiency, social equity and environmental accountability. Certificates of recognition were presented to the representatives of individual Index companies in the ceremony. They also participated in a joint pledge to engage in CSR. Please refer to Annex A for the HKBSI’s top 20 constituent companies. Following the ceremony, Director of SMRC, Professor Carlos Lo shared the index results and introduced the "On-Line Business Sustainability Reporting Platform" at the seminar today. He explained that the HKBSI was compiled between May and August 2015. By using the ‘Values–Practice– Professor Lo revealed that when comparing with companies in the US and Europe, quite a number of companies listed in Hong Kong are still lack of a clear CSR orientation and a proper model. But he stressed that some of individual companies are doing CSR as good as their counterparts in developed economies. The mean score is the average of the fifty index companies in their total CSR assessment. In addition, there are notable variations in the positioning, weight and practice of corporate social responsibility among these companies, which has inevitably affected the overall scores. <Annex A> HKBSI’s top 20 constituent companies (arranged by alphabetical order of company name): 1. Bank of China (Hong Kong) Limited 2. Bank of East Asia, Limited, The 3. Cathay Pacific Airways Limited 4. China Mobile Limited 5. China Resources Power Holdings Company Limited 6. China Shenhua Energy Company Limited 7. CLP Holdings Limited 8. Hang Lung Properties Limited 9. Hang Seng Bank Limited 10. Henderson Land Development Company Limited 11. Hong Kong Exchanges and Clearing Limited 12. HSBC Holdings plc 13. Lenovo Group Limited 14. Link Real Estate Investment Trust (Formerly known as ‘The Link Real Estate Investment Trust’) 15. MTR Corporation Limited 16. New World Development Company Limited 17. Power Assets Holdings Limited 18. Sino Group 19. Sun Hung Kai Properties Limited 20. Swire Pacific Limited End
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