Results of Oxfam ESG Transparency Survey
Results Announcement on Oxfam's ESG Transparency Survey On Tuesday, Oxfam Hong Kong released the results of its Survey on the Hang Seng Index (HSI) Constituents’ Environmental, Social and Governance (ESG) to Hong Kong media via press conference. RepuTex was pleased to undertake the research for the project on behalf of Oxfam from October to December 2015. The findings of the survey are now available in Chinese and English language within our joint RepuTex/Oxfam Research Report. The Report can be downloaded below, together with an Executive Summary prepared by Oxfam Hong Kong. Research Methodology and Findings RepuTex reviewed 50 companies’ publicly available information (e.g. annual reports and sustainability reports) and invited them to complete a questionnaire to provide additional information to verify their performance; 19 companies provided additional information. The survey covered four key areas: Corporate Governance, Environmental Impact, Social Impact and Workplace Practices. It was designed with reference to internationally recognised guidelines, including the Global Reporting Initiative (GRI) G4 Guidelines. The survey found that of the 50 constituents, 32% (16 companies) were in the ‘unstable’ category. A further 42% (21 companies) fell into the ‘satisfactory’ category, while 26% (13 companies) were classified as ‘reliable’. The top three performers were Swire Pacific Ltd, MTR Corporation, and HSBC Holdings, while Kunlun Energy Company, Belle International Holdings and Tingyi Cayman Islands Holding Corporation were in the bottom three. Companies performed poorest in the areas of Environmental Impact and Workplace Practices. Findings indicate that 44% (22 companies) had not established environmental management systems in line with international standards, or set emissions reduction targets and timelines, while 48% (24 companies) had not enforced equal employment opportunity policies. Next year, HKEx will raise its environmental KPI reporting standards to ‘comply or explain’. However, the survey revealed that the 50 HSI constituents did not perform well in the area, lacking transparency and urgently requiring improvements. In the Social Impact category, 32% (16 companies) were unable to demonstrate adequate stakeholder engagement procedures, while 44% (22 companies) had not implemented policies to protect employees’ human rights in the chain of supply. Companies indicated the strongest performance in the area of Corporate Governance; 68% (34 companies) fell into the ‘reliable’ category as it is mandatory to report on key issues regarding governance. This is somewhat indicative of the importance of enhancing standards in reporting, and the vital role authorities play in encouraging companies to improve. Among the nine HSI sectors, the Information Technology sector outperformed all sectors, while both the consumer staples and consumer discretionary sectors performed the worst. The two lowest performing sectors hire more than 600,000 employees around the world and account for a total market capitalisation of HK$720 billion, however they fail to adequately protect the employment rights of their workers. Summary & In-Depth Individual Company Information RepuTex provides a range of ESG and reputation rating services, including individual company rating seals and performance benchmarking reports to organisations across the Asia Pacific region. Our reports can include analysis of performance against the Hang Seng Index universe, best practice benchmarks, or other sector peers nominated by the client. Fees apply. For more information, please contact Ms Martha Grossman, Director ESG Research at RepuTex: firstname.lastname@example.org
Oxfam ESG Transparency Survey
Survey on the Hang Seng Index (HSI) Constituent Companies’ Environmental, Social and Governance (ESG) Transparency and Quality RepuTex is pleased to announce its research project on behalf of Oxfam Hong Kong to assess the ESG transparency and performance of the 50 constituents within Hong Kong’s Hang Seng Flagship Index. Oxfam considers corporate social responsibility is vital in poverty alleviation. In 2008 and 2009, Oxfam conducted two pioneer surveys to study the Corporate Social Responsibility (CSR) of Hang Seng Index constituent companies. It is positive to note that most of companies involved, including media and government, showed positive responses to the studies and many organisations have demonstrated concrete improvements throughout recent years. In 2015, Oxfam will carry out a new survey on the “Hang Seng Index Constituent Companies’ ESG Transparency and Quality”. Oxfam has commissioned RepuTex to execute the research process from October to December 2015. The assessment will be undertaken against core criteria and indicators in the environmental, social, governance and workplace categories. The initial assessment will be made by RepuTex analysts using public domain information (e.g. company websites, annual and sustainability reports, market announcements, market briefings etc.) RepuTex will also draw on valuable input from companies themselves and other credible third parties to finalise research findings. Participation by constituent companies within the Hang Seng Index is strongly encouraged. All HSI companies are required to submit any additional non-public information to RepuTex by Monday 30th November 2015 using the Feedback and Verification Form which has already been provided to companies by RepuTex. All additional information is to be transferred to RepuTex using the following URL: https://www.wetransfer.com/ RepuTex’s ESG methodology and criteria definitions for this project are available for download at the links below. All companies will be ranked based on all public domain information and company input. Research findings will be published and made publicly available in the coming months. If you have any enquiries about the survey, please email Ms Martha Grossman, Director of ESG Research at RepuTex: email@example.com or Mr Samson Chow, Policy Research Officer of Oxfam Hong Kong: firstname.lastname@example.org or 3120-5294.
What are your Sustainability Performance Gaps?
To coincide with the 2014 Hang Seng Corporate Sustainability Index review process, RepuTex-ESG is offering a special package to assist companies to gain a detailed understanding of their sustainability performance strengths and weaknesses, before they complete the 2014 Hang Seng survey. You can obtain the following: 1. A RepuTex Rating Seal. This licence allows your company to demonstrate third party endorsement and verification of its sustainability performance on its website, or within sustainability reports and products. 2. A RepuTex Gap Analysis Report on your company’s sustainability performance over the past year. Gain access to over 50 performance criteria on your company, each with a score of 0 (low) to 10 (high), indicating which criteria are of most concern to your company based on the exposure of your specific company operations. This information can be used to support company submissions to the Hang Seng Corporate Sustainability Index, Dow Jones Sustainability Index and the FTSE4Good Index. RepuTex is also able to provide you with options to overlay market, industry and specific competitor benchmarking, or you can utilise RepuTex’s unparalleled expertise in sustainability assessments to help you to better communicate information and submit your response to index operators, enabling you to improve your own ESG performance. >>You can download a free sample Gap Analysis Report & RepuTex Rating Seal by clicking on the Downloads box below>> Did you know? In November 2013, RepuTex-ESG concluded its research relationship with Hang Seng Indexes as part of a divestment of our index research services. The move enables RepuTex to focus on our traditional advisory business, and consult more closely with companies to help them improve their ESG performance and optimise how they communicate with financial services companies. To learn more about how we can help you to improve your ESG Rating, and your ESG communications, please email email@example.com today.
Webinar: Balance Communication & Engagement
How to Use ESG & Your Company's Website for More than Compliance Tuesday October 22, 2:30pm – 3:00pm Hong Kong/China GMT The 30 minute session will will provide information on how companies can utilise their websites as a communications tool for sustainability; ESG data is useful for savvy communication and sales professionals. It follows last week's launch of our first short article with commercial partner Kreab Gavin Anderson entitled 'Balance Compliance & Stakeholder Engagement?' The webinar will be led by our guest speaker, Ms. Robyn Joseph, Partner at Kreab Gavin Anderson. To register free for this webinar, please CLICK HERE AGENDA: • WHAT IS THE BEST METHOD TO TACKLE THE TOPIC OF COMPLIANCE? • WHICH STAKEHOLDER ISSUES NEED TO BE ADDRESSED IN A SUSTAINABILITY REPORT? • HOW SHOULD GOOD ESG PERFORMANCE BE COMMUNICATED? • HOW DO COMPANIES UTILISE THE CORPORATE WEBSITE AS A TOOL FOR REPORTING? WHO SHOULD ATTEND? This webinar will be vital for anyone who wishes to gain a better understanding of how companies might address communication challenges when it comes to reporting. Consultants, Investor Relations professionals, Corporate Communications personnel, ESG/CSR analysts are all encouraged to attend.
Webinar: Hang Seng Index Results & Changes 2013
Hang Seng Corporate Sustainability Index Results & Changes 2013 Wednesday September 11, 3:00pm – 3:30pm Hong Kong/China GMT The 30 minute session will provide companies and capital markets firms with a detailed briefing on the results of RepuTex’s annual ESG findings for 2013, following the announcement of this year’s Hang Seng Corporate Sustainability Index Series Review. The webinar will be led by RepuTex's Director of ESG Research, Martha Grossman. To register free for this webinar, please CLICK HERE AGENDA: • KEY FINDINGS FROM REPUTEX'S ANNUAL REVIEW 2013, CLIMATE OF CHANGE • RESEARCH FINDINGS BY CATEGORY • PERFORMANCE STRENGTHS & WEAKNESSES ACROSS THE UNIVERSE • 2013 INDEX ADDITIONS & DELETIONS • 2013 HONOUR BOARD RANKING CHANGES WHO SHOULD ATTEND? This webinar will be vital for anyone who wishes to gain a better understanding of RepuTex's 2013 research findings on the Hang Seng Corporate Sustainability Index Series. Asset owners, fund managers, consultants, investment banks, Investor Relations professionals, Corporate Communications personnel, ESG/CSR analysts are all encouraged to attend.
2013 REVIEW: Climate of Change
HONG KONG, August 29, 2013 – New findings from leading provider of Asia ESG research, RepuTex, indicate that the ESG performance of Hong Kong and mainland Chinese companies has remained stagnant these last 12 months. As research provider to the Hang Seng Corporate Sustainability Index Series, RepuTex reviewed the ESG performance of 616 companies for inclusion in the index series – 353 Hong Kong companies (dual-listed companies are classified as Hong Kong stocks) and 263 China A share companies – against its ESG Rating Model. RepuTex assigns each eligible company an ESG Rating running from AAA (high) to D (low). The rating determines each company’s corporate sustainability performance, with index selection by Hang Seng Indexes based on variable inclusion thresholds. Key Findings include: Despite an increase in overall performance scores, the average ESG rating for the 2013 universe remained unchanged at BB+ (unstable). Consistent with previous findings, in 2013 the ESG performance of Hong Kong companies was stronger than that of mainland China, with Hong Kong companies averaging a BBB- rating (moderate) while Chinese companies averaged BB (unstable). The number of companies achieving a AA rating increased considerably, from 12 in 2012, to 16 in 2013. There was also a rise in A rating assignments from 61 to 68 respectively. Telecommunication Services and Financials demonstrated ESG leadership at the sector level. Consumer Staples and Healthcare were the poorest performers. HSBC Holdings Plc reclaimed its 2011 position as the highest ranking company in the universe, followed closely by MTR Corporation Ltd and CLP Holdings Ltd. There was noticeable movement in the China universe with prominent mainland company China Vanke Co. Ltd dropping out of the Top 10 due largely to stronger score improvements displayed by companies such as Industrial Bank Co. Ltd. The RepuTex Rating Watch assigned to Sun Hung Kai Properties Ltd in 2012 was removed. To register to receive a free copy of the RepuTex ESG Annual Review 2013, Climate of Change, please CLICK HERE