HSBC has joined forces with Dun & Bradstreet (D&B), a global provider of business decision data and analytics, to enhance the resilience and competitiveness of Hong Kong businesses through improved environmental, social, and governance (ESG) reporting. This partnership aims to support enterprises, particularly smaller ones, in identifying relevant ESG issues, understanding applicable frameworks, and gathering the necessary data for comprehensive reporting.
Under the collaboration, HSBC will refer interested clients to the D&B ESG Registered service, which assists businesses in demonstrating their adherence to global ESG standards. Eligible clients can benefit from reduced service fees. By completing an industry-benchmarked ESG self-assessment, businesses receive an ESG rating, data performance indicators, and the D&B ESG Registered badge, enabling them to showcase their ESG credentials. This self-assessment aligns with standards like SASB, GRI, and the UN SDGs, which are crucial for both domestic and international operations.
The partnership emphasizes the importance of ESG factors in building trust-based relationships within the business ecosystem, including with customers, suppliers, and investors. It also highlights the growing significance of ESG considerations in procurement decisions. Dun & Bradstreet’s Q1 2024 Global Business Optimism Insights report underscored the increasing importance of ESG factors in procurement, indicating the need for companies to deepen their understanding and resources in ESG reporting.
Following an HSBC Sustainability Roundtable event on April 18, where D&B shared ESG insights with participants from the consumer goods manufacturing sector, several HSBC clients enrolled in the D&B ESG Registered program. Andrew Wu, general manager of D&B China, expressed strong support for the partnership, underscoring its potential to strengthen ESG awareness and implementation among Hong Kong businesses.
This initiative reflects a broader commitment to fostering sustainable business practices and enhancing the overall ESG competitiveness of enterprises in Hong Kong.