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 Sustainability, Public Policy, Injection Molding

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

Report: Brands are falling short on packaging sustainability

January 29, 2015 5:19 pm ET

Packaging in general, and plastic packaging in particular, has a long way to go in terms of recycling, according to a pair of environmental groups.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

Falcon Plastics expands in South Dakota

January 29, 2015 11:45 am ET

Falcon Plastics Inc. is putting the final touches on a 60,000 square foot addition that will nearly double the size of its Brookings, S.D.,...    More

Image

African equity fund invests in Kenya's General Plastics

January 28, 2015 4:24 pm ET

An African investment fund specializing in agriculture has invested in Kenyan packaging firm General Plastics Ltd. to provide funds to expand in the...    More

Image

Plastics help Volt hit new target

January 28, 2015 1:54 pm ET

The 2016 Volt, unveiled at the North American International Auto Show in Detroit in January, features a sportier exterior design — GM calls it &...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

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

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

More Events