Identifying impactful ESG opportunities for First Pacific

Hong Kong-based investment and holding company First Pacific wanted to more tightly identify the material issues that were particularly important to their investors

Challenge

Having published their first sustainability report for the year 2016, Hong Kong-based investment and holding company First Pacific wanted to more tightly identify the material issues that were particularly important to their investors. With a head office in Hong Kong, but operations all throughout Asia, First Pacific was keen to understand investors’ perspective on issues across the company’s value and investment chain. The company also wanted to strengthen governance within their ESG (environmental, social and governance) impacts, and build ways to further embed sustainability thinking within its head office staff and the wider group.

Solution

TPB analysed documents from First Pacific and its investee companies to identify the key ESG impacts and issues, particularly in terms of those highlighted by Hong Kong Exchange and GRI reporting standards.

To widen and deepen insight on prioritisation, TPB conducted a materiality exercise, interviews with a range of key stakeholders including investors, investee company representatives and First Pacific head office employees. Examining these two pieces of research together, TPB identified the most significant environmental, social and governance concerns across First Pacific’s breadth of influence. The results of the materiality assessment helped create a solid foundation for the company’s ESG Reports for 2017 and 2018, whilst also enhancing First Pacific’s understanding of emerging ESG trends and risks.

Impact

The results and insights from of the stakeholder interviews were shared with senior representatives for the investee companies at First Pacific’s inaugural sustainability working group, which was convened and facilitated by TPB in 2017 and again in 2018.

The findings helped First Pacific identify opportunities to strengthen ESG impacts within the corporate infrastructure. Following this first piece of work, TPB also advised on updates to key policies, and designed and delivered a training workshop for all staff in the Hong Kong head office. This reinforced First Pacific’s commitment to sustainability by engaging employees and helping them understand how ESG impacts their everyday work.