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PolyU Forum Empowers HK SMEs on Aligning ESG Disclosure with International Standards

The Policy Research Centre for Innovation and Technology (PReCIT) at The Hong Kong Polytechnic University (PolyU) hosted a forum on “Charting the Path: ESG Policies and SMEs in Hong Kong's Green Finance Journey”, in collaboration with The ESG Consortium and with the support of Sing Tao News Corporation Limited, to address the policy support needed for small and medium enterprises (SMEs) in response to the phased alignment of local sustainability disclosures with the international standards promogulated by the HKSAR Government. In his welcome remarks, Prof. Christopher CHAO, PolyU Vice President (Research and Innovation) and PReCIT Director, highlighted the significance of the Government's vision to make Hong Kong the first jurisdiction to comply with the international sustainability disclosure benchmarks in order to foster Hong Kong’s position as an international green finance hub. He urged policymakers to conduct more consultation with industry practitioners and incorporate their views into the road map being planned for a transparent and actionable sustainability reporting pathway for businesses in Hong Kong. Prof. CHAO said, “As the engine of economic development, SMEs have a critical role to play in Hong Kong's green finance journey, however, the unique challenges and constraints they face in integrating an environmental, social and governance (ESG) framework into corporate risk management and disclosure have not been well addressed. Discussion on best practices is essential to turn ESG obligations into opportunities for our local businesses.” At the forum, Mr Jonathan WONG, Chief of Innovation, Enterprise and Investment at the United Nations Economic and Social Commission for Asia and the Pacific; Mr Hugh CHOW, Executive Director of The ESG Consortium; Ms Clara CHAN, Executive Deputy Chairman and Chairman of the ESG Committee at the Federation of Hong Kong Industries; and Ms Serena MAK, Executive Director of Sustainable Finance at the Institutional Banking Group of DBS Bank (Hong Kong) explored how Hong Kong can leverage green finance and ESG policies to support SMEs in the transition to a low-carbon economy, as well as how to comply with ESG reporting requirements. Ms Clara CHAN emphasised the urgency of adopting ESG principles for manufacturing SMEs. She highlighted, “As the EU will be implementing the CSDDD (Corporate Sustainability Due Diligence Directive) and CBAM (Carbon Border Adjustment Mechanism) within the next two to three years, enterprises, regardless of their sizes, that proactively embrace these regulations will gain a competitive edge in securing business partnerships with EU clients. SMEs should seize this opportunity to accelerate their ESG journey.” Ms Serena MAK said,” Development of taxonomy and robust disclosure standards foster transparency for stakeholders will play a vital part in increased adoption of sustainable finance. SMEs face resource constraints in their ESG journeys. Funding, government support, digital tools and access to information would all be helpful to encourage SMEs to integrate sustainability in their businesses.” Mr Jonathan WONG introduced some innovative laws, policies, strategies and initiatives that governments in Asia and the Pacific have implemented to achieve sustainability reporting. He urged policymakers to continue to innovate in policymaking on what is still a relatively new policy agenda. Mr Hugh CHOW advocated streamlining ESG Implementation for SME Competitiveness. He added, "As we witness the irreversible trend towards ESG implementation, it is imperative for SMEs to take action now and embrace sustainable practices. By advocating the streamlining of ESG implementation, we empower SMEs to enhance their competitiveness in the market. We understand the challenges they face, such as resource constraints and limited capacity. Therefore, we provide strategies to help SMEs overcome these obstacles and embark on their ESG journey." Founded in 2022, PReCIT is a University-level interdisciplinary policy research centre. Led by Prof. Christopher CHAO, Vice President (Research and Innovation) of PolyU and Director of PReCIT, and Prof. Eric CHUI, Co-Director of PReCIT and Head of the Department of Applied Social Sciences of PolyU, the Centre’s primary areas of research include carbon-neutral cities, Greater Bay Area I&T development and Belt and Road Initiative development in Southeast Asia.   For more information about PReCIT, please visit www.polyu.edu.hk/precit/.   ***END***   Photo album of the event: Click here Forum Replay: Click here (Speaker Serena Mak’s session is deleted as requested for internal sharing only) Press Release: Click here (English Verision) Click here (Chinese Version) Speakers' presentation files (in PDF format):   Huge CHOW - Link Jonathan WONG - Link Online coverage: Sing Tao Daily - https://polyu.me/457jzwy Headline Daily - https://polyu.me/4e6Kv3t Bauhinia - https://polyu.me/3Kn9u53 Hong Kong Economic Journal News  - https://polyu.me/3InF6qb

Prof. Christopher CHAO Reappointed Chief Executive's Policy Unit Expert Group Member

Prof. Christopher CHAO, Vice President (Research and Innovation) and Director of PReCIT of The Hong Kong Polytechnic University has been reappointed to the Research Strategy Expert Group of the Chief Executive's Policy Unit Expert Group (CEPU) with the term to be effective for one year starting from 30 May. Five new members: Professor Ba Shusong, Mrs Bonnie Chan Wo, Mr Jonathan Zhu, Mr Tang Fei, Professor Naubahar Sharif are appointed to the CEPU. The CEPU Expert Group was established in May 2023 by the HKSAR Government as an advisory body. 59 members from different backgrounds including business, finance, professionals, think-tanks and academia. Members of the Expert Group are assigned into three broad streams, namely the Economic Advancement Expert Group, the Social Development Expert Group and the Research Strategy Expert Group to contribute expert views and new ideas to the CEPU on various topics.   HKSAR Government announcement: https://www.info.gov.hk/gia/general/202405/28/P2024052800293.htm

PolyU Contributes Strategic Vision for Hong Kong's Aviation Development

The Hong Kong Coalition has released a series of research reports outlining the roadmap for Hong Kong's development as an International Trade Center, East-meets-West cultural hub, Regional Intellectual Property Trade Center, and International Aviation Hub. Led by Prof. Christopher CHAO, Vice President (Research and Innovation) and Director of PReCIT, PolyU was invited to join the aviation task force, which included members from the Airport Authority Hong Kong, Haeco, DHL, The Hong Kong Shippers' Council, the One Country Two Systems Research Institute and more, to contribute their insights on how to enhance Hong Kong’s competitiveness in the aviation industry by enhancing HK’s strategic position of the aviation and leveraging on the opportunities from the aviation technology, GBA market. PolyU scholars from the Department of Aeronautical and Aviation Engineering, Department of Industrial & Systems Engineering, Department of Logistics & Maritime Studies, Policy Research Centre for Innovation and Technology, and Aviation Services Research Centre have formulated constructive insights. The key recommendations from the PolyU team include: Providing long-term and stable funding for aviation research projects, including aviation in funding applications. Fostering long-term collaboration among research, academic, and industry stakeholders on emerging aviation technologies. Establishing flight pilots for autonomous UAV systems and eVTOLs, and integrating Hong Kong into the country's low-altitude economic blueprint. Exploring the feasibility of establishing aviation technology R&D bases in the Greater Bay Area. Strengthening the "air-rail combined transport" system to enhance connectivity between the West Kowloon High-Speed Rail Station and the Hong Kong International Airport. The Transport and Logistics Bureau replied that the Government and stakeholders would consider the recommendations from the Hong Kong Coalition's reports on aviation to reinforce Hong Kong's position as the international aviation hub.   Report link: https://www.hkcoalition.com/post/6099  

Prof. Christopher CHAO addresses at the Asia Summit on Global Health

Prof. Christopher CHAO, Vice President (Research and Innovation) and PReCIT Director of The Hong Kong Polytechnic University (PolyU) joined more than 80 global leaders in healthcare at the fourth Asia Summit on Global Health to discuss diverse industry issues, such as medical and healthcare innovations, healthcare development in China and healthcare investment prospects. PolyU also signed an MOU with PanMediso to collaborate in the field of healthcare.   PolyU will organise another session at the summit today to discuss the development of innovative drugs with specialists from Shanghai Pharmaceuticals Holding Co., Ltd, AstraZeneca, and Simcere Pharmaceutical Group Limited.

Prof. LU Haitian Addresses Edge Intelligence 2024 - AI Developers Summit

Prof. Lu Haitian, Professor of the School of Accounting and Finance, Core Member of PReCIT & Director of MDO at The Hong Kong Polytechnic University delivered a keynote speech about AI and the future of legal services and hosted a roundtable about driving the new quality productive forces with AI+, web3 and computability hardware industry at the Edge Intelligence 2024 - AI Developers Summit. He said AI could help lawyers reduce errors, improve decision-making efficiency, provide more personalised solutions to clients, and encourage the industry to embrace AI technology.   Online Coverage: https://polyu.me/4aczgn5

70% of the Strive and Rise Programme Participants Record Significant Improvement

The evaluation report on the first cohort of the Strive and Rise Programme was released. 70% of the programme participants record improvement, elaborated by Prof. Eric CHUI, Head of APSS and Co-Director of PReCIT at the Hong Kong Polytechnic University, whose team was commissioned by the HKSAR Government to analyse the views on eight indicators.   Online Coverage: Ming Pao Daily:  https://polyu.me/3UNEJwk Now TV : https://polyu.me/3UyGb4f (Part 1)                  https://polyu.me/3wluOEL (part 2)            

PolyU Scholar believes domestic aircraft could enter the international market in the future

Dr Siyang Zhong, Assistant Professor of the Department of Aeronautical and Aviation Engineering at the Hong Kong Polytechnic University (PolyU), pointed out in《Vision》, the monthly newsletter of The Chinese General Chamber of Commerce, Hong Kong, that domestic commercial aircraft must achieve higher technical standards of performance and focus on the public market to enhance their competitive advantages. He believes that domestic aircraft could enter the international market in the future. PolyU signed an MOU with the C919 and ARJ21 manufacturer Commercial Aircraft Corporation of China Ltd (COMAC) last year on promoting civil aviation technology collaboration and fostering research, talent development and knowledge transfer in artificial intelligence, big data and new materials. Scholars from Aviation, Engineering, Industrial & Systems Engineering, Logistics & Maritime Studies shared insight in reinforcing Hong Kong’s status as an International Aviation Hub, outlined in the National 14th Five-Year Plan and the latest 2023 Policy Address. The home-developed aircraft C919 and ARJ21 were displayed in Hong Kong for the first time in 2023.  Details are available at https://lnkd.in/gzz9RB_v  

PolyU joins forces with FHKI to cultivate IT talents

The Hong Kong Polytechnic University (PolyU) signed an agreement with the Federation of Hong Kong Industries (FHKI) to commercialise the STEM Product Certification Framework. Under the agreement, the FHKI will leverage the outcome of the STEM Product Certification Framework (launched by the duo in 2019) for educational and commercial purposes, while PolyU will utilise the same for academic and research enhancement. Both institutions will actively promote the STEM Mark to broaden its application and impact, further solidifying their commitment to advancing STEM+A education. Online Coverage: Headline Daily: https://polyu.me/3Utis5z

Prof. Christopher Chao on PolyU’s carbon neutrality roadmap

Prof. Christopher CHAO, Vice President (Research and Innovation) of The Hong Kong Polytechnic University, penned an article in Sing Tao Daily on the University’s Roadmap to Achieving Carbon Neutrality on Campus. PolyU has established multiple green tech research centres and projects, targeting to achieve the goal of carbon neutrality by 2045. Online version: https://polyu.me/3UDvLAu (subscription required)

Study Shows China's Eastern Coastal Areas Will Likely Peak Carbon Emissions by 2030

Prof. Lu Haitian, PReCIT core member and Director of Mainland Development Office and Professor of the School of Accounting and Finance of The Hong Kong Polytechnic University develops an extended belief rule base(EBRB) inference model (擴展置信規則庫模型) with other scholars to analyse whether the country could peak its carbon emissions before 2030. The study forecasts that China's eastern coastal areas will likely peak carbon emissions in the early stage while some areas may not be able to achieve this by 2030. The article was published in the Hong Kong Economic Journal.   Full version is available at: https://polyu.me/44nOtAf (subscription required)