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Hongkongers have the highest awareness of ESG in the world. In 2023, they acknowledge that corporates are responding to ESG issues – but there is a lot more to do.
New global and Hong Kong SAR survey shows a sharp increase in public interest in environmental, social and governance (ESG) issues.
Overall ESG ratings of companies, the government and not-for-profit organisations have increased significantly since last year.
Most say it is important for companies to take action to address their impact on people and the planet, and to speak out on issues that impact their customers and employees.
In addition, the majority of Hongkongers also believe the SAR is heading in the right direction, with key priorities being cost-of-living pressures, strengthening the economy, and delivering high quality, affordable healthcare.
In a landmark survey spanning 12 countries and territories, global business leaders are warned that public expectations for authentic action on environment, social and governance (ESG) issues remain high even in the face of cost-of-living pressures. Inaction, combined with silence about their efforts, could cost them customers.
In the third annual ESG Monitor from SEC Newgate, the global strategic communications, advocacy and research group, found that there has been a sharp increase in community interest in ESG issues despite widespread concern about other cost-of-living pressures, across Hong Kong and other markets surveyed.
The research indicates that we may have reached a tipping point, suggesting the need for genuine action by corporates to address the impact they are having on people and the planet is no longer up for debate.
Some of the main findings in Hong Kong includes:
85% of people are aware of ESG, up 15% since last year, and versus only 53% globally.
Interest in ESG in Hong Kong has jumped to 71%, up by 21% since 2023, and above the global average of 67%.
Hongkongers are also leading the charge globally in terms of conscious consumerism: ESG issues are influencing their decisions in a wide range of areas, in particular the types of products they buy (71%, compared to 62% globally) and the foods they eat (68% versus 62% globally).
Overall, respondents in Hong Kong placed higher importance on many ESG aspects compared to other markets.
To obtain a copy of the Hong Kong ESG Monitor report and the Media release, please click on the links below: