HONG KONG SAR –
Media OutReach Newswire – 28 October 2024 – International Chamber of Sustainable Development (ICSD) successfully hosted a Cocktail Reception and Research Paper Presentation on Friday, October 25, 2024, at the United Conference Centre, Admiralty. The event, attended by more than 100 participants, focused on motivating small-cap companies to improve their Environmental, Social, and Governance (ESG) reporting practices in Hong Kong. This event was supported by World Green Organisation and Hong Kong Institute of Circular Economy.
Dr. Angus Yip (first author), Dr. William Yu (second author) and Professor Peter Fong (Editor-in-Chief of Public Administration and Policy)
The event featured the presentation of a research paper* titled “Motivating Small and Medium-sized Listed Companies for Better ESG Reporting in Hong Kong”. By using grounded theory, this study highlighted the significant drivers and barriers small-cap companies face in their ESG reporting efforts.
*Yip, A.W.H., Yu, W.Y.P. and Ip, Q.W.T. (2024), “Motivating small and medium-sized listed companies for better Environmental, Social and Governance (ESG) reporting in Hong Kong”, Public Administration and Policy: An Asia-Pacific Journal, Vol. 27 No. 2, pp. 220-234.
https://doi.org/10.1108/PAP-05-2024-0068
Key Research Findings:
The research, based on interviews with 22 ESG reporting personnel in SMEs, identified regulations and management support as critical motivators, while lack of management support and expertise were found to be significant obstacles. The study emphasized the importance of mobilizing various stakeholders—such as regulators, investors, bankers, customers, NGOs, and employees—to influence and encourage SMEs to adopt better ESG practices. Though regulations can effectively push small-cap companies to report, but usually in a perfunctory manner. By leveraging the influence of stakeholders, small-cap companies can gain tangible benefits and greater management support, creating a more sustainable future for their businesses and the broader economy.
Speakers:
- Dr. Angus Yip, Founding Chairman of ICSD
- Dr. William Yu, CEO of World Green Organisation
Both Dr. Yip and Dr. Yu provided insightful commentary on the challenges faced by small-cap companies in ESG reporting and offered practical recommendations for overcoming these challenges. They stressed the role of collaborative efforts between policymakers, businesses, and stakeholders in driving meaningful progress.
Audience attentively listens to an ESG research presentation at the ICSD event.
Event Highlights:
The event fostered meaningful discussions on the need for enhanced ESG reporting among small-cap companies and provided a platform for participants to share insights on the evolving landscape of corporate sustainability. Attendees, ranging from industry professionals to sustainability advocates, expressed their appreciation for the research and its practical implications for improving ESG practices in SMEs.
As a comprehensive investigation into the motivational factors affecting ESG reporting in small-cap companies, this research paper lays the groundwork for future policy recommendations and stakeholder-driven initiatives.
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