Social Innovation | Policy Research Series
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A Policy Review on Environmental, Social and Governance (ESG) Reporting for Corporates and Investors in Hong Kong |
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As an increasing number of investors and corporations are paying more attention to environmental, social, and governance (ESG) disclosure, many regulators around the world are actively promoting ESG development. At the same time, ESG investment has become a prominent tool across major markets in response to the challenges of climate change. As a global financial centre, Hong Kong has the potential for channelling global capital into ESG assets, leveraging finance to catalyse sustainable development. This report starts with an in-depth discussion on ESG reporting, investment and value creation within the ESG ecosystem, followed by a review of regulatory regimes across the global landscape and the latest developments in reporting and investment. The report proposes a set of policy recommendations that we believe would let Hong Kong continue to spearhead the development of global capital markets. |
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Pay-for-Success Advocacy Report |
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2017-11-08 |
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Due to an aging population, expenditure on social welfare would continue to rise in Hong Kong. The report provides a detailed analysis of the issue and advocates the development of Pay-for-Success, an innovative financial policy which can relieve the long-term financial burden of the Government and maintain the welfare of the society through the collaboration of the Government, businesses and community. Currently, Pay-for-Success is prevalent in the US and the UK as an alternative financial instrument utilized by governments or social enterprises to raise private funds for preventive social projects, the investment return of which hinges on the outcomes of the social services. |
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Green Bond Landscape Report |
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2017-10-19 |
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The very existence of mankind is being threatened by environmental issues such as pollution and climate change. In order to mitigate these problems, green bonds channel capital from both public and private sectors to finance a wide range of green projects. This report covers the mechanism of green bond issues, as well as the development of the global, Chinese and local green bond markets. The environmental needs behind green bonds are also analyzed. At the end of the report, Our Hong Kong Foundation provides a set of policy considerations which the Government can explore. The considerations center around the establishment of a Qualifying Green Bond (QGB) scheme, which would include green bonds reviewed by qualified parties or with recognized standards. We believe such considerations would enable Hong Kong to catch up with the global development of green bonds. |
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Social Impact Assessment Booklet |
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2017-09-21 |
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Social Impact Assessment (SIA) is a crucial tool in managing the social consequences of development. It is a research analytical process for decision making. Through a series of stakeholder engagement, SIA practitioners can forecast and mitigate the anticipated and unanticipated consequences of developments on social aspects of our environment. In this booklet, eight common social impact assessment frameworks will be presented, including BACKS Monitoring and Evaluation Framework, B Impact Assessment, SEE Mark, Social Impact Assessment (SIA) Framework, Social Impact Measurement, Social Return on Investments (SROI), Total Impact Measurement and Management (TIMM) and True Value Model. We hope the SIA booklet could help government, nonprofits, social enterprises or corporates to understand the key differences between the aforementioned frameworks and choose the best assessment tool, depending on their organizational profile and specific needs. |
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Social Innovation Research Report |
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2016-03-31 |
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After the previous Innovation and Technology Report, Our Hong Kong Foundation continues its research on ‘innovation’ and has released a report on social innovation. The report recommends the Government to fully support and promote social innovation, constructing an enabling environment for social innovators. Our Hong Kong Foundation suggests the Government adopt a comprehensive strategy with social impact assessment (SIA) as the core. The report recommends the Government to implement SIA on policy formulation so as to advocate the concept of social outcome and encourage the use of SIA. In the meantime, the Government should raise the society’s awareness of social innovation by engaging business, increasing competition for social outcome and building capacity. Only with the support or even direct participation of the Government, businesses and NGOs in social innovation, Hong Kong could tackle complex social problems effectively. |
陳智思
亞洲金融集團總裁
