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​Corporate Financial Educationand ESG Leadership

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This Award aims to recognize collective efforts that commercial firms and non-profit entities have made to improve financial literacy in Hong Kong. All awardees are also determined in contributing to a sustainable city through efforts in ESG.

 

Assessment Criteria

The Criteria are set out to demonstrate how financial education could be met. Submissions of the firms should specify and elaborate on the criteria engaged.

 

1. Digital Campaigns/App: Websites, apps, videos, social media platforms, online tutorials or hotlines that are available to consumers with free and impartial sources of information, tools and resources. Consumers are able to navigate the financial landscape and access the information they need
2. Print: Publication of books, toolkits and training materials for free financial education to the public
3. Events: Providing public financial education through engaging and exciting events, road shows, focus groups, games, etc
4. Support of Vulnerable Groups: Special programs or resources for specific cohort groups, e.g. people experiencing high financial stress, people with low income or few assets, vulnerable seniors, and religious differences as they pertain to loans and borrowings
5. lnnovative Examples: Actively adopting technologies in business models for a better financial education future, including the internet of things, artificial intelligence and the sharing economy
6. Co-effort Examples: Partnership or sponsorship to support a financial education program run by a charity, school, non-profit organization or policymaker
7. Volunteering Programs: Building a sustainable volunteer program in which promoting financial education is one of the goals or activities
8. Employee Programs: Providing workplace financial wellness programs for employees
9. Research Examples: Commissioning research to highlight the need for financial education so that the best practices can be shared and publicized
10. Digital Finance Related: Any financial education initiatives that focus on digital finance, including but not limited to open finance, crypto-assets and Central Bank Digital Currencies (CBDCs) etc.

 

ESG Engagement

To be qualified as an awardee of the “Corporate Financial Education and ESG Leadership”, firms must showcase their commitment in the sustainable development of their organizations, as well as the community in every aspect. Therefore, applicants must also submit TWO INTERNAL + TWO EXTERNAL ESG INITIATIVES they have done over the year. They must provide proof of evidence of the initiatives, e.g. annual report, sustainability report, website, press release etc.

 

What are Categorized as ESG?

ESG stands for Environmental, Social and Governance. It refers to the three key factors that investors and stakeholders consider when evaluating the sustainability and ethical impact of a company or organization.

 

Environmental include a company's impact on the environment and its efforts to manage and mitigate environmental risks and opportunities. This includes but not limited to:

• Reducing Carbon Emissions
• Donation Program to Environmental Cause
• Sustainable Sourcing
• Developing Sustainable Energy Solutions
• Protecting Biodiversity
• Green Office
• Minimizing Waste Production

 

Social refer to a company's impact on people and communities. This includes but not limited to:

• Supporting Community Development
• Promoting Employee Relations
• Promoting Diversity and Inclusion
• Valuing Human Rights
• Supporting Employee Volunteering
• Ensuring Product Safety and Quality

 

Governance factors relate to a company's management and decision-making structures. This includes but not limited to:

• Ensuring Transparency Business
• Practices Promoting
• Executive Compensation
• Implementation of a Broad Diversity Policy
• Ensuring Shareholder Rights
• Promoting Ethical Leadership
• Implementing Anti-corruption Policies

 

What is Internal and External ESG?

Internal ESG refers to ESG programs that take place within the organization, targeting internal stakeholders.

 

External ESG refers to ESG programs that are dedicated to the public, targeting external stakeholders.

 

Below are some examples but not limited to: