大快活ESG報告披露不足

香港地球之友綠色金融顧問

大快活ESG報告披露不足

港交所強制要求香港上市公司披露環保、社會及管治報告, 今年已經是第三年。在下研究了超過兩百分報告, 水準極度參差。

看看2017/18大快活的報告, 集團使用了極大量的天然氣, 但卻因天然氣而產生的硫氧化物, 氮氧化物及PM, 亦是港交所要求強制披露的指標, 卻沒有披露。另外大快活理應有一大隊車隊, 理應披露用油量, 在報告內完全沒有提到。最令人氣結的, 是大快活每天所用的包裝品總量, 包括餐盤上的即棄包裝, 以及外賣包裝, 數量十分驚人, 但也沒有在報告內披露。以上所說的, 全是屬港交所強制披露的要求指標。

看了全份報告, 不合規的問題太多, 難以勝數。如此水平, 強制披露這份報告又有甚麼意義? 如果港交所不願執法, 報告水平一定只會永遠停留在塗脂抹粉, 沒有人會願意認真看待, 綠色投資者又怎樣找到可靠的資料? 看來我們還有漫漫長路要走。

Beyond Climate Change

Karen Ho, Green Finance Advisor of Friends of the Earth (HK)

The Stock Exchange of Hong Kong Limited (HKEX) just published last Friday its Consultation Paper “Review of the Environmental, Social and Governance (ESG) Reporting Guide and related Listing Rules”.

One of the key focus of its consultation paper is climate change. HKEX proposed to require disclosure of policies on measures to identify and mitigate the significant climate-related issues which have impacted, and those which may impact the issuers, and the action taken to manage them. It proposed to revise the Environmental KPIs to require disclosure on a description on target set regarding emissions, energy use and water efficiency, waste reductions etc and steps taken to achieve them. It also proposed to require disclosure of Greenhouse Gas Scope 1 and Scope 2 emissions. All of disclosure mentioned are subject to “comply or explain”.

Better Disclosure means Better Market Efficiency

As we discussed in our blog last week, HKSAR Government is catching up on Green Finance and we are pleased to see that HKEX is seeking to strengthen its ESG rules. Whilst the Task Force on Climate-related financial disclosure (TCFD) Recommendations focus on material risks and opportunities from climate change perspectives, HKEX’s Guide applies more broadly across all environmental and social areas.

It is clear that climate change has already begun to affect global business, with extreme weather, threatening company assets and supply chains. As the environment evolves, companies that improve their energy efficiency and create new products and services will survive and companies that are slow to change will struggle.

Investors rely on ESG data to identify which companies may be best positioned to succeed in a sustainable world. FoE welcomes HKEX’s commitment in strengthening disclosure on ESG and climate-related information as it would help to drive better market efficiency. 

Green of Green – are you ready?

Si Ling Wong, Green Finance Advisor of Friends of the Earth (HK)

The theme of this Blog is “Green Finance”. So what is Green Finance actually? One could google and get a very detailed definition from the website. My simple interpretation is “Responsible Investment”.

When we talk about finance or investment, the first thing that comes into mind would be money making – this is very true and fair. Everyone works to earn and support living and if an investment is not going to bring any benefit, who will be doing it?

That’s why we may need more incentive/ pressure from the government. Hong Kong has been a bit behind our peers in this area but the government is trying to catch-up. Starting from 2017, listed companies are required to follow the comply-or-explain obligations from the Hong Kong Stock Exchange in making their Environment, Social and Governance (“ESG”) reporting. The HKSAR Government announced the launch of the Green Bond Grant Scheme in June 2018 to subsidize eligible green bond issuers in obtaining certification under the Green Finance Certification Scheme established by the Hong Kong Quality Assurance Agency. The Securities and Futures Commission (“SFC”) issued a circular to provide guidance to management companies of SFC-authorized green or ESG funds on enhanced disclosures last month. A roadshow for the HKSAR Government’s first green bond under its HK$100 billion green bond program was also kicked-off last Tuesday.

More information on the latest HKSAR government’s green initiatives could be read here: https://www.hkma.gov.hk/eng/key-information/press-releases/2019/20190507-4.shtml

While the government is picking up the pace, general public could also contribute via “Responsible Investment” – buying shares/ bonds issued by companies that pay effort in managing ESG, allocating assets into funds that incorporate ESG in their investment decision-making process, etc. No big money is needed – every penny counts.

One last reminder: watch out for “Greenwashing”. Some corporates might use “green” deceptively just to promote their products/ brands. It will always be good to take a closer look at these “green” labels to avoid being fooled and dumping money into something actually evil and not sustainable.

Friends of the Earth (HK)’s Response to the HKMA’s Measures on Green Finance / 香港地球之友回應金管局的綠色金融措施

Hong Kong is the leading asset management centre in Asia. FoE (HK) is pleased to see that HKMA will adopt a principle that priority can be given to Green investments. The government should demonstrate its green finance leadership by not only investing in green projects but also divesting from fossil fuels, and also encourage asset owners and investors to do so. Over 1,000 institutions with almost USD $8 trillion have committed to divest in fossil fuels.

The Hong Kong Monetary Authority (HKMA) today unveiled three sets of measures to support and promote Hong Kong’s green finance development. Climate change is universally regarded as the biggest threat to humanity. Friends of the Earth (HK) [“FoE (HK)”] lauds these measures and believes that they will help alleviate climate change.

Hong Kong is one of the top three international finance centres. However, the city ranks poorly compared to its traditional peers and even neighbouring cities on green finance, being placed 31st on the Global Green Finance Index. FoE (HK) welcomes the establishment of the Centre for Green Finance (CGF) under the HKMA Infrastructure Financing Facilitation Office (IFFO) to strengthen our position as a global green finance hub. 

To promote Green Finance in Hong Kong, FoE (HK) launched a “Green Finance Blog” on Earth Day 2019 (https://www.foe.org.hk/greenfinanceblog/). FoE(HK) will also announce our Green Finance Roadmap for Hong Kong on the World Environment Day, 5 June 2019. 

香港金融管理局 (金管局)今日公布三項措施以支持及推動香港綠色金融發展。氣候變化已被全球公認為對人類最大的威脅,香港地球之友歡迎相關措施並認為有助緩減氣候變化。

香港是亞洲領先的資產管理市場,本會樂見金管局優先考慮綠色投資。政府除了投資綠色項目,同時應向化石燃料撤資,並鼓勵其他資產擁有人及投資者跟隨,以展示出綠色金融領導地位。現時全球已有擁有約8萬億美元資產的超過1,000個機構承諾向化石燃料撤資。

香港是全球三大國際金融中心之一,可惜在全球綠色金融指數(Global Green Finance Index)只排行31名,綠色金融發展不敵傳統金融中心以及鄰近城市。本會歡迎在金管局基建融資促進辦公室下成立綠色金融中心,以鞏固香港綠色金融中心的地位。

為了推動綠色金融發展,香港地球之友在2019年世界地球日推出綠色金融網誌(https://www.foe.org.hk/greenfinanceblog/) ,並會在2019年6月5日世界環境日宣布本會提出的香港綠色金融路線圖。

Message from Chairperson Green Finance Blog Launch

Message from Chairperson Green Finance Blog Launch / 主席的話 啟動綠色金融網誌

Mei Ng – Chairperson of Friends of the Earth (HK) / 吳方笑薇 – 香港地球之友主席

The greatest threat to our planet is the belief that you can only do little.

One Note, one Vote, one Share, one Care, everyone can make a world of difference with the dollar note we spend, the vote we cast, the share we buy and the care we commit for the planetary health that we all depend upon for our common existence and that of our future generations.

In a flatter, hotter, bitter and litter world, we are being naïve if we think we can achieve a sustainable future without harnessing the best of the corporate world to these ends.

Green Finance

If economics is somehow to blame for environmental problems, shouldn’t that means that the cure for those problems must also lie in the economy?

Can “enlightened accounting” catalyze revaluation of true long-term value of natural systems to become “common currency” for sustainable growth?

Can “enlightened investment “ catalyze paradigm shift for reappraisal of “Natural Capitalism”?

Can Green Finance & Green Economy catalyze the adoption of Green GDP?

Green manufacturing, green farming, green building, green transport, green industry, green technology, green consumption, green services bring social, environmental and health benefits to ensure sustainable wellbeing?

No more fossil fools. No more carbon debt. Finance policy-makers and finance sector practitioners, stakeholders and investors can play an important role by divesting in fossil fuel to reduce carbon emission and to adopt green and responsible investing to promote renewable energy and green technology.

Global trends, research, analysis, forecasts and interests in green and responsible investing are growing. Over 1,000 institutions with almost USD $8 trillion have committed to divest in fossil fuels.

Hong Kong needs to catch up

Hong Kong is a global financial hub and a late-comer in promoting Green Finance, lagging behind London, Shanghai, Tokyo, Singapore and Korea.

Hong Kong needs to catch up to assume climate responsibility and green finance leadership to gain back top spot in the Global Green Finance Index (GGFI).

FoE Green Finance Blog on Earth Day

To celebrate Earth Day, Friends of the Earth(HK) launched a “Green Finance Blog” on its website to harness collective wisdom to catalyse Hong Kong policy makers and asset managers’ interest and commitment to adopt green finance and responsible investing.

Friends of the Earth (HK) believes that each one of us in our small ways and examples can generate positive changes to save Planet Earth and our common future.

Visit the Green Finance Blog on
https://www.foe.org.hk/greenfinanceblog/ .

對於地球最大的威脅,正在於我們相信,能夠改變的只是微乎其微。

鈔票、選票、股票、飯票,四票就在你手!每個人都可以通過我們的決定改變地球,包括我們如何消費、如何投票、如何投資股票市場、如何對地球的健康作出關注的承諾,我們以至未來新一代的存亡正繫於此。

我們生活在一個更平坦、更炎熱、更痛苦並充滿垃圾的世界,如果我們仍相信不用商界精英的參與亦可以達至一個可持續的未來,未免太天真了!

綠色金融

當大家都將環境問題歸咎於經濟時,為何大家在考慮補救方法時不向經濟方面入手?

「開明的會計學」能催化人們重新評估自然生態系統的真正長遠價值,從而成為可持續增長的「共同貨幣」嗎?

「開明的投資」能催化重新評估「生態資本主義」的範式轉變嗎?

綠色金融和綠色經濟能催化「綠色國內生產總值」的接受與應用程度嗎?

綠色生產、綠色農業、綠色建築、綠色交通、綠色產業、綠色技術、綠色消費與綠色服務,能帶來社會、環境和健康效益從而促成可持續福祉嗎?

不應再有愚昧的化石!不應再有碳債務!財務政策制定者、金融業從業人員、持分者以及投資者可以在當中扮演重要的角色,包括通過撤離化石燃料投資能減少碳排放,並採用綠色和負責任的投資來推動可再生能源和綠色技術。

綠色和負責任投資在全球的趨勢、研究、分析、預測和興趣都正在增長中。超過1,000家擁有近8萬億美元的機構已承諾向化石燃料撤資。

香港必須從後趕上

香港是全球金融中心,可惜在推動綠色金融方面卻只是剛起步,落後於倫敦、上海、東京、新加坡和韓國。

香港必須從後趕上承擔氣候責任,並爭取在全球綠色金融指數中奪魁,重奪綠色金融領導地位。

世界地球日啟動綠色金融網誌

為了慶祝世界地球日,當天香港地球之友網頁上推出了綠色金融網誌,通過集體智慧提升香港政策制定者和資產管理者對採用綠色金融和負責任投資的興趣從而作出相關承諾。

香港地球之友認為,我們每個人都可以通過我們自己微小的想法及方式,為拯救地球和我們共同的未來作出積極的改變。

歡迎透過
https://www.foe.org.hk/greenfinanceblog/ 瀏覽「綠色金融網誌」。