Corporate social responsibility survey of Hang Seng Index constituent companies
The findings of the survey suggest that the strongest CSR initiatives were in corporate governance, strategy, stakeholder engagement and community investment. The areas where many companies struggled were supply chain, environment and workplace. In these areas, companies lacked detailed initiatives or specific standards, and did not have effective monitoring systems or targets in place to mitigate undesirable effects.
The paper concludes that:
- improvements to corporate social responsibility must begin with the region’s largest and most important companies
- areas of weakness should be addressed for Hong Kong companies to adhere to higher standards of corporate responsibility and industry practices
- improvement in these areas can be made by building on the general policies that have been laid out to set more specific and higher goals for the future
- companies should make improvements by expanding stakeholder engagement to include groups outside of those financially invested in the company