31 January 2005
Hang Seng Bank has become the first financial institution in Hong Kong to receive an official certificate for the quality of its environmental management practices.
Hang Seng set up an environmental management system (EMS) for its headquarters after seeking advice from the Hong Kong-based Business Environment Council (BEC), which works with businesses and community bodies to address environmental and sustainability concerns.
It was awarded the international ISO 14001 certificate – the most recognised standard for environmental management practices – six months after the EMS was established, prompting Dr Andrew Thompson, Chief Executive of BEC, to hail the bank as ‘a shining example’ to its competitors.
The accreditation follows Hang Seng’s inclusion in the FTSE4Good Global Index in 2001, which was developed by FTSE to encourage investment in companies that promote environmental sustainability by meeting globally recognised corporate social responsibility standards.
Since then, the bank has introduced an environmental policy and a myriad of initiatives to reduce the environmental impact of its business, from cutting waste, improving recycling facilities and saving energy. A ‘green ambassador’ scheme was set up in 2003 to encourage its 7,200 staff to promote green practices and environmental awareness.
Alongside Hang Seng’s commitment to the environment, its parent group, HSBC, is also leading the way in implementing sustainable business practices. In December 2004, as part of a package of measures to tackle climate change, the HSBC Group became the world’s first major bank to commit to going carbon neutral by offsetting its own carbon emissions.
Vincent Cheng, Vice-Chairman and Chief Executive of Hang Seng Bank, said: “We firmly believe that by operating in an environmentally responsible manner, we can help create a better future for society. Being certified to ISO 14001 is recognition of the management’s efforts in protecting the environment.”
With more than 150 branches and automated banking centres, Hang Seng Bank is Hong Kong’s second largest bank by market capitalisation. Founded in 1933, it offers a range of personal wealth management, commercial banking, corporate and institutional banking, treasury and private banking services across Hong Kong and mainland China.
