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Providing ESG solutions that can help businesses build resilience
HONG KONG, June 14, 2024 /PRNewswire/ -- Dun & Bradstreet (D&B), a global provider of business decisioning data and analytics, and HSBC today announce a collaboration aiming to help businesses in Hong Kong strengthen their resilience and build a competitive advantage through transparent and voluntary Environmental, Social and Governance (ESG) reporting. HSBC will introduce interested clients to D&B ESG Registered™ service that helps to showcase the commitment of a business to upholding global ESG standards. Eligible clients will also be able to enjoy a discounted service fee.
Fostering ESG Competitiveness for Hong Kong businesses
This initiative focuses on supporting smaller businesses by enabling them to identify the ESG issues that affect their business, understand the relevant frameworks and gather the data needed to report. Promoting the importance of ESG reporting among Hong Kong companies can help to build strong trust-based relationships within the business ecosystem – with customers, suppliers and investors too.
On successful completion of an industry benchmarked ESG self-assessment, built around industry recognized sustainability standards such as SASB, GRI, the UN SDGs, and many others that are important for businesses when operating domestically or internationally, companies receive their own ESG rating, data performance and reference indicators, and the D&B ESG RegisteredTM badge helping them to share their ESG credentials.
According to Dun & Bradstreet's Q1 2024 Global Business Optimism Insights, the importance of ESG factors in procurement is rapidly growing. This underscores the need for companies to deepen their knowledge, resources and understanding of ESG reporting and embed it into their businesses.
Following an HSBC Sustainability Roundtable event on 18 April 2024, when D&B shared ESG insights with participants from the consumer goods manufacturing sector, various HSBC clients have enrolled for D&B ESG Registered™ programme.
Mr. Andrew Wu, General Manager of Dun & Bradstreet China, expressed his enthusiasm for the partnership: "We are privileged to collaborate with a pre-eminent bank such as HSBC in Hong Kong to deliver ESG awareness and solutions for the local business community. This initiative will enable local businesses to understand and disclose their ESG performance in accordance with international standards, which is becoming increasingly critical for businesses to gain a competitive edge. This is particularly important when it comes to engaging with investors, financiers, clients and all stakeholders."
Dun & Bradstreet's Data Cloud holds comprehensive information on more than 550 million total organizations, with ESG data on nearly 80 million global public and private businesses, including over 90,000 in Hong Kong. ESG Rankings are conveniently organized into 13 ESG themes and 31 topic-specific categories to help businesses understand risks and opportunities. These rankings are built around ESG data gathered from millions of globally trusted sources. This deep coverage and breakdown of ESG risks by category helps connect the dots between analytics and business performance. Leveraging Dun & Bradstreet's extensive Data Cloud, businesses will have their ESG data benchmarked against global peers, empowering them to make informed decisions and mitigate ESG risks effectively.
Driving Sustainable Growth
Through this collaboration, Dun & Bradstreet and HSBC hope to strengthen Hong Kong's businesses by ensuring they have access to solutions and support to navigate the evolving landscape of sustainable business practices and harness the power of data.
Dun & Bradstreet was invited to participate in a HSBC event on 18 April 2024 to share valuable insights on how corporates can enhance their understanding and disclosure of ESG performance.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. We combine global data with local insights to help our clients to make smarter decisions. For more information on Dun & Bradstreet, please visit www.dnb.com.hk
