HKICPA hosts Best Corporate Governance and ESG Awards 2024 Presentation Ceremony CLP Holdings and Prudential win MSCO platinum awards among a record number of winners
The Hong Kong Institute of Certified Public Accountants (HKICPA) today hosted the Presentation Ceremony for the Best Corporate Governance and ESG Awards 2024 (the Awards). A record number of 38 companies and public sector organizations (PSOs) received awards (please see the Appendix for details), highlighting the improving quality of corporate governance (CG) and Environmental, Social and Governance (ESG) standards among Hong Kong companies and organizations. The efforts of our winners to continuously enhance their CG and ESG performance helps to further establish benchmarks for high-quality CG and ESG practices in Hong Kong.
The HKICPA was pleased to invite Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited (HKEX), as the Guest of Honour of the Ceremony. In his speech, Mr. Tong remarked: "Corporate governance and ESG help businesses to play a crucial role in navigating global megatrends. And this is something that is expected by investors, customers, employees and society at large. Their success is intertwined with the sustainability of the economies and communities they operate in. To thrive, businesses must integrate corporate governance and ESG principles into their operations.”
He continued, “Congratulations to all Award winners and I hope your success will serve as an inspiration and that your efforts will serve as a roadmap to excellence in corporate governance and ESG for the long-term sustainability of our economy, market and community.”
Mr. Roy Leung, HKICPA President and chair of the judging panel for the Best Corporate Governance and ESG Awards 2024, said, “We have been a strong advocate for best practices in corporate governance in Hong Kong for three decades and, since their inception, the Awards have helped to promote our work in this area, while highlighting the vital importance of good CG and, now also ESG, for the development of the Hong Kong market. We have seen a great deal of positive change among companies and organizations over these years.”
“Strong CG and ESG practices benefit companies and PSOs, by giving greater assurance to their investors and stakeholders and improving their decision making. A sound CG and ESG culture also contributes to a more sustainable way of living and helps to safeguard society and the environment for future generations.
The Most Sustainable Companies/Organizations (MSCO) Awards remained the top accolades this year, recognizing listed companies and PSOs that demonstrate excellence in both CG and ESG practices and disclosures while integrating these two elements into their values, strategies, and operations. Separate CG and ESG Awards were also available for companies and PSOs that achieved a high standard of performance in either CG or ESG.
In view of the growing importance of information technology (IT) and cybersecurity governance, the Awards’ judging panel weighed the quality of cybersecurity-focused disclosures for the first time this year. Alongside the Awards, this year, the Institute conducted a short research study on IT & cybersecurity governance disclosures, reviewing the quality of disclosure among the Hang Sang Index (HSI) constituents and making a set of recommendations on how to strengthen disclosure.
In addition to the record number of companies and PSOs receiving awards, there has been an increase in winners of the Awards’ top accolade, the MSCO Awards, compared with the previous year and HKICPA congratulates the 13 MSCO Awards winners. Among them, CLP Holdings Limited was a platinum award winner in the Hang Seng Index category, while Prudential Plc was a platinum award winner in the Non-Hang Seng Index (Large Market Capitalization) Category. Additionally, AIA Group Limited, Swire Pacific Limited, and AAC Technologies Holdings Inc. are first time MSCO awardees.
In the separate CG Awards, there were a total of 11 winning companies and organizations, including three first-time awardees – ANTA Sports Products Limited, Bank of East Asia, and GCL Technology Holdings Limited. In the separate ESG Awards category, there were a total of 14 winning companies and organizations, including two first-time awardees – Sun Hung Kai Properties Limited and HK Electric Investments Limited. The Institute congratulates all these winners.
The HKICPA was pleased to receive a certain amount of financial sponsorship for this year’s Awards from prominent CPA and other professional consultancy firms (see Note 1). The HKICPA would like to express its appreciation for their support and that of the Awards’ media sponsors (see Note 2).
For the full judges' report of the HKICPA’s Best Corporate Governance & ESG Awards, please scan the QR code below:
Note 1: list of sponsors (in alphabetical order)
1. Ace Sustainability & Risk Advisors Ltd.
2. AVISTA Group
3. BDO
4. CityLinkers Group
5. Deloitte Touche Tohmatsu
6. Ernst & Young
7. Forvis Mazars Risk Advisory Services Ltd.
8. Grant Thornton Hong Kong Ltd.
9. HLB Hodgson Impey Cheng Ltd.
10. KPMG
11. Moore CPA Ltd.
12. PwC
13. Riskory Consultancy Limited
Note 2: list of media sponsors (in alphabetical order)
1. ET Net
2. Hong Kong Economic Times
3. The Standard
Photo 1: The Hong Kong Institute of Certified Public Accountants today hosted the Presentation Ceremony of the Best Corporate Governance and ESG Awards 2024, which has a record number of winners.
Photo 2: The HKICPA is pleased to have Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited (HKEX) as the Guest of Honour of the Awards Presentation Ceremony. He also delivered a speech at the Ceremony.
Photo 3: During his speech at the Ceremony, Roy Leung, the HKICPA President and chair of the judging panel of the Best Corporate Governance and ESG Awards 2024, said since the Awards’ inception, the HKICPA has been advocating for best practices in corporate governance in Hong Kong and has seen a great deal of positive change among companies and organizations over these years.
Appendix: Best Corporate Governance & ESG Awards 2024 - Awardee List
