The 20th edition of 2025 Eco Expo Asia wrapped up on Friday at Hong Kong AsiaWorld-Expo, with exhibiting firms promoting Environmental, Social, and Governance (ESG) transformation for a better image.
Carmen Lau, the assistant marketing manager at ESGreen, an ESG-driven motor tech firm, said that as people pay increasing attention to environmental issues, such as extreme weather conditions, the company will prioritise ESG practices to enhance its brand image.
Markus Ho, the sustainability strategies manager of Allied Environmental Consultants Limited, a sustainability and environmental consulting firm, said companies such as real estate developers or those in the financial industry can better promote ESG-related actions when they have extra resources due to their relatively abundant resources.
“As a business platform for ESG and sustainable solutions, the Expo will showcase the latest products and technologies in new energy, green living, and environmental protection,” said Jenny Koo, HKTDC Deputy Executive Director, at a press conference in early October ahead of the event.
According to a study by Hong Kong Trade Development released this June, the city gained 64.2 points in the ESG Index, with respondents from Mainland China giving the highest rating of 69.1, underscoring the city's reputation as an ESG business hub.
The banking and financial services sector had the highest percentage of practitioners engaged in sourcing or providing ESG solutions, followed by the fashion industry and the international trade and manufacturing industries.
Cost is one of the challenges companies face when implementing ESG standards. “(The aspect that) is difficult to advance is probably the cost,” said Lau. “It is necessary for that company to invest first, and then there will be profits.”
Oscar Chan, the product owner of Green AI Technology Limited, a company that uses AI to track the quantity and weight of recycled items, also highlighted cost concerns.
“At present, many companies rely on manpower to do something such as the waste audit, which requires hiring some personnel to conduct some statistics specifically,” said Chan. “If I have to hire a lot of people to do this every time and do it every month, the cost will be very high. ”
Elvy Teoh, Senior Sales and Marketing Executive at Orkel, a Norwegian-based global supplier of agricultural and industrial compactors, said that as a foreign company operating in Hong Kong, it is a challenge for Norwegian products to adapt to the Hong Kong industrial chain.
She observed that while environmental awareness is higher in Norway, ESG practices require greater promotion in Hong Kong.
《The Young Reporter》
The Young Reporter (TYR) started as a newspaper in 1969. Today, it is published across multiple media platforms and updated constantly to bring the latest news and analyses to its readers.
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