The Hong Kong Institute of Directors (HKIoD) announced at the Directors’ Conference 2022 that it has joined the Climate Governance Initiative (CGI) and launched the CGI Hong Kong Chapter (CGI HK).
CGI is a global initiative the World Economic Forum started in 2019, with the aim of encouraging boards worldwide to address climate change issues in their businesses. It upholds eight principles: 1. climate accountability on boards, 2. command of the subject, 3. board structure, 4. material risk and opportunity assessment, 5. strategic integration, 6. incentivisation, 7. reporting and disclosure, and 8. exchange.
Dr Moses Cheng, Honorary President and Founding Chairman of HKIoD, GBM, GBS, OBE, JP, said, “Climate risks will seriously affect the sustainable development of the human society and corporate environment, and their impacts on the survival and shareholder value of enterprises are even harder to predict. Thus, tackling climate change is a matter of urgency for human society. At the helm of sustainable development of their corporations, directors are duty-bound and crucial to leading climate governance actions. HKIoD is honoured to join CGI and to launch CGI HK, and work with partners and collaborators to provide directors with an important platform for exchanging climate governance knowledge and opinions. In addition, CGI HK will strive to have boards include ‘Responses to Climate Change’ in their regular agenda.”
Dr Christopher To, Chairman of HKIoD, said, “HKIoD sees promoting corporate social responsibility and sustainable development as an important action plan. Being able to join CGI this year while HKIoD celebrates its 25th anniversary means a lot to us. It is a testament to HKIoD upholding its original intentions, which are to lead the business community in contributing to building a better future and to earn the recognition of international authoritative organisations for its efforts made over past years. HKIoD will continue to help the Hong Kong business community raise corporate governance standards and together with it build a more brilliant future.”
Dr Carlye Tsui, CEO of HKIoD, said, “Climate change and sustainable development have caught eyes in recent years and are key topics many HKIoD training courses cover. In our new role in hosting CGI Hong Kong Chapter, we will help strengthen communication and exchanges with corporate directors and experts from around the world, take reference of their knowledge and experience in enhancing the quality and quantity of our climate governance-related training.”
CGI currently has over 20 chapters in its global network with altogether 100,000 members.
CGI HK is a community composing of directors, including non-executive directors (NEDs) and executive directors (EDs), and subject matter experts.
To assist in meeting the challenges arising from climate change, CGI HK’s mission is to reach out to directors to advance knowledge, motivate actions and promote best board practice in climate governance. As Chairman of the CGI HK Steering Committee, Dr Carlye Tsui said, “CGI HK acts to empower, enable and engage directors in gaining climate awareness and skills and in embedding climate considerations into board decision-making. Directors should understand and the risks to the success of and opportunities for their organisations that the climate emergency brings. To support directors in climate governance, CGI HK will develop and curate regular forums and training and produce and share relevant published information. These activities will be opportunities for NEDs and EDs to learn, and interact with each other and subject matter experts.”
The Founding Partners of CGI HK include the following:
1. Deloitte Touche Tohmatsu Limited
2. The Hong Kong Institute of Directors
3. The Hongkong and Shanghai Banking Corporation Limited
4. The Hong Kong University of Science and Technology
The CGI HK Advisory Council composition:
1. Dr The Hon Moses CHENG Mo-chi GBM GBS OBE JP
2. Prof Christine LOH SBS JP
3. Ms Bonnie Y CHAN
4. Mr Dennis CHOW
5. Ms May TAN
6. Dr Christopher TO
The CGI HK Steering Committee composition:
1. Dr Carlye TSUI SBS MBE JP, Chairman
2. Prof Veronique LAFON-VINAIS
3. Mr Anthony TSUI
4. Mr Mohit GROVER
5. Ms Victoria SHAPOVALOVA
6. Dr Agnes K Y TAI
7. Mr Anthony CHEUNG
8. Ms Athena NG
9. Ms Alison TSOI, Secretary
Please click [https://www.hkiod.com/governance-structure/] for more details about CGI HK’s Governance Structure.
About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors is Hong Kong’s premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with a membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information services and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.