Environmental experts, sustainability advocates, policymakers and business leaders gathered today at the second edition of the HKMA/BOC Life Hong Kong Sustainability Summit, which was held on 14 August 2023 at the Hong Kong Convention and Exhibition Centre. The Summit aims to address the pressing challenges facing our planet and accelerate the transition to a sustainable future. Organized by the Hong Kong Management Association (HKMA), the Summit was launched in 2022, alongside the industry renowned Hong Kong Sustainability Award, fostering an invaluable platform for Sustainability practitioners to benchmark best practices in the industry and exchange knowledge. Business with Purpose “Pledge in Action” Ceremony was held in conjunction with the HKMA/BOC Life Hong Kong Sustainability Summit for the first time.

In the Welcoming Address, Mr Peter Wong, Chairman, Advisory Board, HKMA Global Centre for ESG Education and Research; and Managing Director, The Hong Kong and China Gas Co Ltd said: “We gather here to focus not only on the buzzword “sustainability” but also on the crucial concept of “PURPOSE.” Two years ago, the HKMA partnered with Social Ventures Hong Kong to launch the “Business with Purpose” platform, which holds significant meaning. Purpose-driven businesses align their strategies, operations, and decision-making processes with a clear mission that go beyond financial gain, and create shared values. This approach allows us to generate customer loyalty, attract dedicated employees, and ensure the long-term sustainability of our business.”

Heavy weight speaker, Mr Richard van der Laken, Co-founder & Creative Director of What Design Can Do, delivered his Opening Keynote on “Make it Circular with the Power of Design”. What Design Can Do is an international design firm based in Amsterdam with a mission to accelerate the transition to a sustainable, fair and just society – by using the power of design. It has created multiple design break-throughs; won numerous prestigious international awards; and is featured in the permanent collection of galleries such as the Design Museum London and MoMa New York.

Business with Purpose welcomes 10 new signatories

The Business with Purpose platform was formed in 2021 through an Impact Partnership between HKMA and Social Ventures Hong Kong (SVhk). It is united by our common vision to support corporate and social leaders in redefining sustainability, while reinforcing a shared mission to embed PURPOSE in action for a better collective future for business and wider community. 31 purpose-committed organizations have joined this platform in the previous two years to advance social impact considerations and innovations in business and this year the platform welcomes another 10 new signatories.

The Business with Purpose “Pledge in Action” Ceremony was officiated by Professor Randy Lai, Chairperson of HKMA Young Leaders Committee and CEO of McDonald’s Hong Kong. Prof Lai said “This year marks the third edition of the Business with Purpose platform and we are pleased to unveil an ever-growing number of signatories joining hands together in this purpose journey. Since its establishment the platform has generated tremendous support from the business community and reputed for its action-based initiatives.”

The HKMA and SVhk were honoured to be joined by the following 10 organizations in the pledge, including:

The 2023 Business with Purpose Survey continues to build on prior observations, tracking the evolving social and business landscape in Hong Kong. This year’s survey is developed in partnership with the Hong Kong Social Entrepreneurship Forum (HKSEF) as part of its upcoming “Business for Good” report, funded by The Social Innovation and Entrepreneurship Development Fund (SIE Fund).

Mr Francis Ngai, Founder and CEO of SVhk said during the ceremony, “Despite a challenging business environment, we find inspiration in witnessing an increasing number of corporates integrating purpose into their operations. This reaffirms that the tide is shifting, and with strong corporate support, social ventures and non profit organizations alike are no longer as lonely in our quest to address Hong Kong’s urban social challenges as we had been a decade ago.”

Following the ceremony, the “Behind the Scenes of Purpose-Driven Partnerships” Sharing Session was held.

Speakers:

Moderator:

Two fruitful Sustainability Summit Panel Discussions

After the sharing session, two panel discussions were organized:

Panel Discussion 1: “Power of Innovation and Technology: Driving Sustainable Business for a Better Future”

Speakers:

Moderator:

Panel Discussion 2: “Circular Economy: Opportunities and Challenges”

Speakers:

Moderator:

• Mr Andy Law, Associate Director, ESG Climate & Sustainability, PwC Mainland China and Hong Kong

Join hands and collaborate to drive sustainable business practices

In his Closing Remarks, Dr Delman Lee, Chairman, Organizing Committee, Hong Kong Sustainability Award; and Vice Chair, TAL Apparel Ltd, said, “In creating a more sustainable world, it is essential for different sectors, including NGOs and commercial entities, to join hands and collaborate. By working together, these sectors can address pressing economic and social issues, such as manpower shortage and wellness. Innovation and technology play crucial roles in driving sustainable business practices and achieving sustainability goals. Embracing innovative approaches and leveraging technology can enhance productivity, optimize resource utilization, and reduce environmental impact.”

The HKMA/BOC Life Hong Kong Sustainability Summit is proudly sponsored by the following esteemed organizations:

Issued by The Hong Kong Management Association on Monday, 14 August 2023.