About 65 percent of businesses in the Greater Bay Area (GBA) are implementing eco-friendly practices in the workplace, according to a recent report by the Hong Kong Trade Development Council (HKTDC) and United Overseas Bank, YahooFinance reports.
Findings revealed that almost every business that had done so reported positive impact – the likes of improved brand reputation, cost reductions, and increased share of the market.
Titled Sustainability in the GBA: Unlocking Opportunities and Empowering Growth, the report also hailed Hong Kong’s contributions to greening the region. The SAR offers many green options, from finance to construction, it noted.
The HKTDC’s research director, Irina Fan, said that about 70 percent of surveyed respondents were considering using – or upping their current use of – Hong Kong’s sustainability solutions.
“This is a real vote of confidence in the strength and breadth of Hong Kong’s green resources,” she said, adding that it could translate into a HK$1 trillion ESG (environmental, social, and corporate governance) investment over the next two years.
Hurdles to implementing ESG initiatives in the GBA included a lack of experience, cost pressures, and a lack of unified standards, the report read.