HONG KONG, Oct. 27, 2023 /PRNewswire/ — Dun & Bradstreet (D&B), a leading global provider of business decisioning data and analytics, recently hosted its inaugural ESG and Sustainable Supply Chain Development Forum in Hong Kong. Themed ‘Connect for A Green Future’, the October 20 event followed D&B’s successful earlier ESG events in Shanghai and Shenzhen. Hong Kong has long been a strategically vital connection for both global business and supply chain management, D&B was delighted to welcome some 260 distinguished thought leaders from both the public and private sectors to its latest forum. In addition to sharing unique insights on ESG and supply chain management practices, the packed audience was encouraged to look beyond climate risk when embedding ESG into their business growth strategies.
Andrew Wu, General Manager of Dun & Bradstreet China, delivered his Opening Remarks to Forum delegates
Establishing meaningful business relationships with ethical companies is the most effective way forward-thinking businesses can better mitigate risk, increase resiliency and drive business performance. According to a D&B study from 2020[1], over 30% of worldwide companies surveyed are now integrating ESG controls into their supplier and vendor evaluation and selection processes.[2] And those numbers are continuing to grow rapidly.
"ESG is far more than an investment tool or a supply chain strategy, it’s about sustaining a beautiful future for everyone on the planet," said Andrew Wu, General Manager of Dun & Bradstreet China, "Today we are seeing ESG has become an essential currency to do business across the globe, it’s not optional anymore. As a global company deeply rooted in China for over 42 years, we observed nationwide China has been embracing this trend proactively and this is reflected in the national development goal which is to achieve ‘Carbon Peak/Carbon Neutral, Rural Revitalization, Common Prosperity’. Hong Kong’s strategic location and market competitiveness mean we have every confidence that we will play a pivotal role in achieving China’s national goal of connecting with the world."
D&B has long been renowned for combining global data and local insights to ensure its clients can make smarter long-term decisions. To this end, D&B has now tailored a holistic ESG solution package to help its clients tackle challenges and tap into opportunities while confidently managing risks. D&B delivers on this commitment by adopting a comprehensive ESG ranking methodology that makes it easier for its business partners to assess ESG risks and opportunities. In doing so, D&B ranks ESG priorities across 13 themes and 31 topics structured around major sustainability frameworks. Specific examples include the Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI), Task Force on Climate-related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP), United Nations Sustainable Development Goals (UN SDGs), United Nations Principles for Responsible Investment (UN PRI), and other notable reporting guidelines.
Here in Hong Kong, D&B is continuing to inject ESG solutions into various business scenarios by working with a wide variety of clients. In order to strengthen and improve its partners’ performance within the ‘Social’ dimension, D&B uses ‘payment to suppliers’ data’ as an essential component of its ESG Ranking standard. Specific data collected includes companies’ performance when paying their suppliers. To this end, D&B collects millions of monthly trade payment records across various sectors. It then harnesses its robust dataset to generate accurate credit history and payment trend insights using its proprietary D&B PAYDEX® Score.
D&B has also long been a leader in promoting ESG in the ecosystem itself. In June 2023, D&B joined forces with the HKTDC to support ‘Green transformation’ among SMEs, start-ups, and MSMEs by offering a comprehensive range of high-quality ESG-registered services, known as D&B ESG Registered™.
D&B is now inviting forward-thinking enterprises to join it in working towards the ESG-empowered ecosystem that will enable everyone on the planet to enjoy a true ‘Green Future’.
[1] Source: 2020 Dun and Bradstreet survey conducted by Censuswide, on behalf of Dun & Bradstreet – of 1,000 Supply and Procurement professionals 500 US/500 UK professionals, December 2020.
[2] Source: 2020 Dun and Bradstreet survey conducted by Censuswide, on behalf of Dun & Bradstreet – of 1,000 Supply and Procurement professionals 500 US/500 UK professionals, December 2020.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For details, please visit www.dnb.com.hk
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