Making inroads into good Corporate Governance and ESG management

A report from Hong Kong Exchanges and Clearing

 
 

Our Founder Pat Dwyer and Sustainability Advisor Rebecca Walker Chan were featured in HKEX’s December 2020 publication with insights and authoring in Chapters 1 “Why Corporate Governance and ESG Matter” and Chapter 5 “The Value of Outside Advisers”

 
 

Key takeaways from our contribution

  • Good corporate governance practices provide the bedrock for managing environmental and social risks. Only when there is ESG commitment and ownership at the board level, can it then be integrated into strategy and translated to the functions of the company

  • ESG has moved on from corporate philanthropy and CSR to genuinely doing good business. This means recognising risks, not just the usual cost of labour or market volatility, but including environmental vulnerabilities or even social risks - creating a mindset shift towards resilience-building across the business

  • ESG consultants add to the diversity of board experience and expertise with different perspectives on issues and can function as an in-house ESG expert as part of the internal team. Our role is supporting the board through:

    • Raising awareness for all relevant requirements and imminent regulations on ESG issues and trends that may affect the listed company

    • Building capacity by setting up an ESG committee, creating governance and reporting structures and ensuring regular training is available

    • Acting as the custodian to serve as the objective convenor and bridge all discussions on sustainability as a new concept for board