Hong Kong rates sustainability of local businesses

By Steve Toloken
News Editor / International

Published: February 23, 2012 6:00 am ET

Related to this story

Topics Public Policy Sustainability Injection Molding
Companies & Associations

HONG KONG (Feb. 23, 12:55 p.m. ET) — Two Hong Kong organizations have launched a rating system to measure sustainable business practices among local small and medium-sized companies (SMEs), including manufacturers.

The groups hope the effort will improve companies’ performance in social and environmental areas and ultimately their competitiveness.

The Hong Kong Polytechnic University and the Hong Kong Productivity Council launched the index Feb. 21 with 40 local companies, and said they plan to update it annually. One of the goals is to demonstrate how implementing such “corporate social responsibility” practices can help companies do better economically in the long-run, organizers said.

“By practicing corporate social responsibility, SMEs can achieve the most important goal of business sustainability, namely enhanced competitiveness” by using resources more efficiently and having strong relations with stakeholders and investors, said HKPC Executive Director Agnes Mak, in a statement.

While the concept of sustainability has been recognized among Hong Kong firms, both industrial and other business sectors are still looking for a model for business sustainability, with the hope that it can help extend the life span of their operations, said Timothy Tong, president of Hong Kong Polytech.

It seems the firms still have some work to do, however. The index said that the companies were only at the “initial stages” of business sustainability, with a mean score of 58 out of 100.

It said manufacturers had the most advanced CSR practices in general, with a mean rating of 65, compared with a rating of 56 for the service industry, according to the HKPC, which is a quasi-governmental organization that provides research and market development support to Hong Kong companies.

While Hong Kong SMEs include thousands of plastic processing companies, organizers said there are no plastics firms in the inaugural Hong Kong SME Business Sustainability Index.

Index organizers do not plan to make the individual scores of companies public, at least in the first year, but they have disclosed the firms on the list and plan to meet with them to discuss how they could improve, said Carlos Lo, a faculty member in the Department of Management and Marketing at Hong Kong Polytech.

“We will give them scores in individual aspects so that the company concerned will get a clear idea of the aspects they have not performed well,” he said.

Lo said the Guangzhou Academy of Social Sciences is considering setting up a similar index to measure the CSR performance of local firms in that city, near Hong Kong.


Comments

Hong Kong rates sustainability of local businesses

By Steve Toloken
News Editor / International

Published: February 23, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Getting a real feel for how 'vinyl saves lives'

March 27, 2015 6:00 am ET

While I'm certainly not shipping off to Africa anytime soon, I got a taste of what medical professionals go through in the fight against Ebola and...    More

Image

Johnson's political outlook shaped by a plastics business view

March 27, 2015 6:00 am ET

When Sen. Ron Johnson (R-Wis.) traded plastics for politics in 2010, he didn't leave his business sense behind. He carried the lessons of 30 years in ...    More

Image

Customs snafu snags Boy Machines

March 26, 2015 9:42 am ET

ORLANDO, FLA. — With apologies to poet Robert Burns, this year’s NPE in Orlando definitely proved that “sometimes the...    More

Image

NPE nudges attendees to recycle

March 24, 2015 1:47 pm ET

A public awareness campaign developed by Keep America Beautiful is receiving prominent display at NPE 2015 as part of the show's overall effort to...    More

Image

SPI launching recycling summit

March 23, 2015 5:10 pm ET

The Society of the Plastics Industry Inc. announced Monday at NPE 2015 that the plastics trade association will return to Orlando in 2016 for a brand ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events