The France Macau Chamber of Commerce (FMCC) hosted a special Breakfast Talk Rendez-Vous educational event last week, at which Ms Sandy Sio, President of the Administrative Council of the Macau Institute for Corporate Social Responsibility in Greater China (MICSRGC), appeared as special guest speaker to discuss and provide insights into CSR development in Macau and future opportunities in the Greater Bay Area.
Titled “The Big Picture in ESG, What’s In It For Me?”, the talk – held at Sofitel Macau at Ponte 16 – explored a range of initiatives including the fact that Macau’s concessionaires have become the driving force of CSR in Macau due to their size and the listing requirements of Hong Kong and US stock exchanges. These include the production of ESG (environmental, social and corporate governance) reports which in turn help raise awareness on CSR and ESG.
Likewise, the support provided by concessionaires to local SMEs (small and medium-sized enterprises) helps promote CSR across the community as SMEs interact with local residents on a daily basis by providing products and services.
Ms Sio observed that China’s CSR efforts can be found in provinces beyond the Greater Bay Area, with the Chinese government having included CSR development as part of their 14th five-year plan and 20th congress report via various policies and actions addressing climate change. For example, China has set a target of capping carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060. Associated initiatives include using electricity and natural gas to replace fossil fuel to help achieve the carbon neutral goal.
Ms Sio added that there were many important measures that can be taken to support positive CSR and ESG initiatives, such as educating teaching staff and therefore students from a young age; and promoting knowledge of environmental objectives, social goals and consumer responsibility to local schools as part of their regular curriculum. As long as the regulatory framework around these issues evolve over time, there is hope for the future, she said.