Sing Tao and PolyU join hands to promote ESG

Staff reporter

Sing Tao News Corporation (1105), the parent company of The Standard, has signed a memorandum of understanding with the Hong Kong Polytechnic University to work together and launch an environmental, social and governance certification scheme to assess companies' sustainable performances.

The media group and the university will also roll out a series of activities including seminars and training programs to promote ESG awareness and practices in the city.

The certification scheme aims to recognize firms that have made outstanding contributions in the field of ESG and provide further advice for businesses to improve sustainable performances, Sing Tao's co-chief executive Cai Jin said.

"We are actively preparing for the scheme, which may involve firms in Hong Kong and other cities in the Greater Bay Area, or even global enterprises," he said.

Under the MoU, Sing Tao will leverage its media resources while the Center for Economic Sustainability and Entrepreneurial Finance at PolyU will provide academic expertise.

Founded in 2015, the CESEF has received funding from the Commerce and Economic Development Bureau several times to provide ESG and green finance advice to corporations.

The MoU comes as the city strives to enhance its competitiveness as a green and sustainable financial center. In April, Hong Kong Exchanges and Clearing (0388) released a three-month consultation paper, suggesting that all listed issuers be mandated to disclose climate-related information within their ESG reports.