Shangri-La Advances Ranking on Environmental, Social and Governance Performance
In recognition of its efforts in environmental, social and governance (ESG), Shangri-La Asia Limited rose higher on the RepuTex Honour Board in 2012, and has been assigned an “AA” rating. Now ranked 11th on the list of more than 600 companies in Hong Kong, the hotel group remains the only hotel brand represented on the list.
RepuTex is Asia Pacific’s foremost sustainability analytics firm and serves as the research partner for Hang Seng Indexes Company for the operation of the Hang Seng Corporate Sustainability Index Series. In its 2012 Annual Review document entitled Asia On The Move, RepuTex analysed 636 companies representing 95 per cent of the market capitalisation of the Hong Kong and mainland China markets. The report recognises Shangri-La’s improvement in the last year as it joins eight other companies at the AA level of ESG ranking. Overall, the report states that there has been a “significant groundswell in engagement on ESG by local companies and investors, indicating that ESG is on the move as a key investment and risk management principle.”
“We are honoured to continue to be recognised in the RepuTex Honour Board,” said Greg Dogan, president and chief executive officer of Shangri-La International Hotel Management Limited. “To be given the AA ranking affirms the various steps we have taken to improve overall ESG performance. After signing the United Nations Global Compact, we have continued to improve on sustainability investment, strengthen volunteerism and local community development programmes as well as move into more meaningful engagement of colleagues and guests in our CSR work.”
In May 2011, Shangri-La published its first sustainability report, entitled Enhance, Enrich, Embrace. The report was a first attempt to document the company’s journey in environmental protection and conservation, greening supply chain practices, a focus on employees and health and safety as well as overall stakeholder engagement. It highlights social development through Embrace, Shangri-La?s Care for People Project, which to date has changed the lives of over 15,000 children globally.
Shangri-La has also launched “Sustainability: Shangri-La’s CSR Module,” which aims to promote understanding and awareness as well as inspire over 40,000 colleagues in the group to get engaged in various meaningful and long-term CSR activities.
For more information on RepuTex as well as for a full breakdown of performance results, including RepuTex rating statements on key companies, please refer to the RepuTex 2012 Annual Review, Asia On The Move, available at www.reputex.com.