Hong Kong institute to launch sustainability governance academy
The Hong Kong Chartered Governance Institute (HKCGI) is launching an academy to elevate the standards of sustainability and corporate governance in the city through education, professional certification and events.
HKCGI's sustainability governance academy, launching on July 31, aims to promote sustainability-related advocacy, education and research, according to a pamphlet obtained by the Post.
The academy will be open only to those who have passed the institute's environmental, social and governance (ESG) reporting certification course, which was launched early last year. Around 1,400 accredited certificate holders have completed the course, and they can join the academy free of charge.
Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.
"The academy is a first in Hong Kong, giving a home to sustainability governance professionals," Ellie Pang, CEO of the HKCGI, said in an interview. The certification course helps bridge the gap between the insufficient talent in this area and the needs of both listed and unlisted companies for ESG reporters, she said.
The course is intended for members of ESG committees or working groups, executives and governance professionals, as well as related parties who seek knowledge on ESG reporting and performance assessment, according to the pamphlet.
"As a professional working in this area, there is a need to be continually updated and increase your skills as these requirements change and evolve and expand," David Simmonds, president of the HKCGI, said in an interview. "All companies who do financial reporting will have to do some sort of sustainability reporting as the years go by."
Therefore Hong Kong needs to develop capability to support that requirement, added Simmonds, who is also the chief strategy, sustainability and governance officer at CLP Holdings. "The ESG certification course is a really timely part of the Hong Kong landscape to help build that capacity," he said.
The Hong Kong government has set aside HK$200 million (US$26 million) for subsidies to support the training of market practitioners and related professionals, as well as students and graduates of relevant disciplines, helping them obtain the relevant professional qualifications in sustainable finance.
The online HKCGI course consists of seven live webinars led by experts in the field. To pass the course, participants must attend all the two-hour sessions or watch recordings of them, and answer multiple-choice questions after each session.
The course is priced at HK$2,800 for HKCGI members and students, and HK$3,500 for non-members. It is eligible for reimbursement under the government's three-year pilot scheme to build green and sustainable finance capacity, which launched in 2022.
Ellie Pang, CEO of the Hong Kong Chartered Governance Institute. Photo: Handout alt=Ellie Pang, CEO of the Hong Kong Chartered Governance Institute. Photo: Handout>
After completing the programme, applicants can apply for a subsidy of up to 80 per cent of their fees, while full-time student applicants can apply for up to 100 per cent of theirs, subject to a ceiling of HK$10,000.
The course will be updated later this year to include new climate requirements laid out in the enhancement of the ESG framework by Hong Kong Exchanges and Clearing in April.
Other organisations and professional training bodies have also been launching sustainability and ESG-related courses to cater to the rising needs of the industry and tap into education demand that can qualify for government subsidies.
The International Chamber of Sustainable Development, a Hong Kong-based professional training body, will expand its accredited ESG planner course to the Greater Bay Area in September.
The science unit of Hong Kong-based Lingnan University and Friends of the Earth (Hong Kong) have also joined hands to train ESG practitioners so that they can integrate big data analysis in financial decision-making as corporations scramble to meet growing climate disclosure requirements.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.
Copyright (c) 2024. South China Morning Post Publishers Ltd. All rights reserved.