Is Corporate Hong Kong Ready for the Green Economy?

Experts to discuss the key issues facing business

HONG KONG, June 27, 2012 /PRNewswire-Asia/ -- Participants at a high-level roundtable are to look at whether the corporate sector in Hong Kong is ready to face the challenges and opportunities posed by the green economy.

The event, organised by ACCA Hong Kong (the Association of Chartered Certified Accountants) and the WWF-Hong Kong, at the Island Shangri-La Hotel, will bring together leading experts in the fields of business, accountancy, investment and non-governmental organisations to discuss the green economy and its impact, influence and effect on these specific groups. 

Ms Erica Chen, Head of ACCA Hong Kong says: "Only a few years ago, businesses did not have to deal with challenges such as climate change; biodiversity loss; scarcity of fuel, food and water; and unstable financial systems. That has all changed and these issues are now gaining strategic importance and are now regular subjects for boardroom discussion."

"It is clear that a new economic system needs to be developed to avoid large scale global disaster and one that will help alleviate the risks as well as provide opportunity for growth and prosperity. Businesses will need to adapt and there will be a range of challenges for everyone involved in corporate decision making," says Ms Chen.

A panel of experts will discuss the current and future economic landscape, summarise green economy policy in Hong Kong and consider this from an international perspective, while looking at the opportunities for business in the green economy and the skills and knowledge required by accounting professionals.

Speakers will include: Ms Rachel Jackson, Head of Sustainability, ACCA;  Dr William Yu, Head of Climate Programme, WWF-Hong Kong; Dr Bernard Cheng, Policy Advocator,  Climate and Energy Advocacy Projects, WWF-Hong Kong; Dr Jeanne Ng, Director, Group Environmental Affairs, CLP Holdings; Ms Mara Chiorean, Country Director, CSR Asia; Mr Hugh Gozzard, Principal, Enterprise Risk Services, Deloitte Touche Tohmatsu and Mr Philippe Lacamp, Head of Sustainable Development, John Swire & Sons (HK) Ltd. 

Dr William Yu, Head of Climate Programme, WWF-Hong Kong, said: "We are optimistic that more dark green and light green jobs will be created in light of the global movement in encouraging sustainability and non-financial performance reporting. We believe that accountants can play a role in catalyzing the change in this area as what gets measured, what gets done."

"Dark green" jobs are where the workers are hired for their knowledge of sustainability, like an accredited verifier of the sustainability report, while "light green" jobs are created to implement an environmental policy but workers are hired for their specialist knowledge in a different area, such as a communications executive responsible for preparing sustainability report in a corporate sustainability department.

Ms Rachel Jackson, Head of Sustainability at ACCA says: "At ACCA we believe environmental accountability is important for organisations and their stakeholders.  The current state of the global economy has led to an unsustainable use of resources, income inequalities, environmental degradation and a greater level of risk. Business transformation is key to achieving a green economy."

"Accounting professionals are increasingly helping businesses and policymakers to measure, understand and reduce their impact on society and the environment as a whole, and we are sure that today's discussions will help shape the future of the green economy in Hong Kong," she adds.

Similar round table events have taken place in Jakarta and Singapore with the final meeting taking place in Beijing on 29 June. The feedback gathered at all events will go towards a research report which will be released later this year.

Programme Rundown

Notes to editors:

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. As the first global accountancy body entering into China, ACCA now has over 22,600 members and 42,500 students, with 7 offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Hong Kong SAR, and Macau SAR.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accounting professionals bring value to economies in all stages of development. We aim to develop capacity in the profession and encourage the adoption of consistent global standards. Our values are aligned to the needs of employers in all sectors and we ensure that, through our qualifications, we prepare accountants for business. We work to open up the profession to people of all backgrounds and remove artificial barriers to entry, ensuring that our qualifications and their delivery meet the diverse needs of trainee professionals and their employers.

We support our 154,000 members and 432,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills needed by employers. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development.

www.accaglobal.com