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		<title>Case study: How BOCHK creates economic value for its stakeholders</title>
		<link>https://sustaincase.com/case-study-how-bochk-creates-economic-value-for-its-stakeholders/</link>
		
		<dc:creator><![CDATA[Gerasimos]]></dc:creator>
		<pubDate>Fri, 19 Jul 2024 06:01:27 +0000</pubDate>
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					<description><![CDATA[<p>BOC Hong Kong (Holdings) Limited is one of the largest listed companies and commercial banking groups in Hong Kong. As a leading commercial and regional bank with deep roots in Hong Kong for over 100 years, BOCHK is committed to undertaking its corporate social responsibilities and delivering greater value for all its stakeholders and the community. This case study is based on the 2022 Sustainability Report by BOCHK, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: [&#8230;]</p>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-creates-economic-value-for-its-stakeholders/">Case study: How BOCHK creates economic value for its stakeholders</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>BOC Hong Kong (Holdings) Limited is one of the largest listed companies and commercial banking groups in Hong Kong. As a leading commercial and regional bank with deep roots in Hong Kong for over 100 years, BOCHK is committed to undertaking its corporate social responsibilities and delivering greater value for all its stakeholders and the community.</p>
<p><strong>This case study is based on the</strong><strong> 2022 Sustainability</strong> <strong>Report by</strong> <strong>BOCHK, prepared in accordance with the GRI Standards, that can be found at this </strong><a href="https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2022_en.pdf" target="_blank" rel="noopener"><strong>link</strong></a><strong>. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.</strong></p>
<p><a href="https://sustaincase.com/good-communication-with-responsible-csr-reporting/" target="_blank" rel="attachment wp-att-1719 noopener noreferrer"><img fetchpriority="high" decoding="async" class="tie-appear alignnone wp-image-1719" src="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg" alt="Layout 1" width="618" height="84" srcset="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg 1024w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-300x41.jpg 300w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-768x104.jpg 768w" sizes="(max-width: 618px) 100vw, 618px" /></a></p>
<p><strong>Abstract</strong></p>
<p><strong>In 2022, the economic value distributed by BOCHK reached HK$ 36,603 million.</strong>&nbsp;<a href="https://twitter.com/intent/tweet?text=In%202022%2C%20the%20economic%20value%20distributed%20by%20BOCHK%20reached%20HK%24%2036%2C603%20million.&url=https%3A%2F%2Fsustaincase.com%2Fcase-study-how-bochk-creates-economic-value-for-its-stakeholders%2F&via=sustaincase" target="_blank"><i class="fa fa-twitter">&nbsp;</i>Tweet This!</a> In order to create economic value for its stakeholders BOCHK took action to:</p>
<ul>
<li>create economic value for employees</li>
<li>create economic value for providers of capital</li>
<li>create economic value for governments</li>
<li>create economic value for communities</li>
</ul>
<div class="subscribe-for-free">
<h3>Subscribe for free and read the rest of this case study</h3>
<p>Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over <strong>2000 case studies.</strong> These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify &gt; Measure &gt; Manage &gt; Change).</p>
<h4>With this case study you will see:</h4>
<ul>
<li>Which are the <strong>most important impacts</strong> (material issues) BOCHK has identified;</li>
<li>How BOCHK proceeded with <strong>stakeholder engagement</strong>, and</li>
<li><strong>What actions</strong> were taken by BOCHK to create economic value for its stakeholders</li>
</ul>
</div>
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<p><strong>What are the material issues the company has identified?  </strong></p>
<p>In its 2022 Sustainability Report BOCHK identified a range of material issues, such as cyber security, addressing climate risks, financial inclusion, talent acquisition and development. Among these, creating economic value for its stakeholders stands out as a key material issue for BOCHK.</p>
<p><strong>Stakeholder engagement in accordance with the GRI Standards               </strong></p>
<p>The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:</p>
<p><a href="https://www.globalreporting.org/standards/gri-standards-download-center/gri-101-foundation-containing-standard-interpretation-1/" target="_blank" rel="noopener">“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”</a></p>
<p>Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.</p>
<p><strong>Key stakeholder groups</strong> <strong>BOCHK</strong> <strong>engages with:</strong><strong> </strong></p>
<table width="479">
<tbody>
<tr>
<td width="129"><strong>Stakeholder Group</strong></td>
<td width="350"><strong>               Method of engagement</strong></td>
</tr>
<tr>
<td width="129">Customers</p>
<p>&nbsp;</td>
<td width="350">·      Communications with frontline staff and relationship managers</p>
<p>·      Contact centres, Customer Feedback Line/Mailbox</p>
<p>·      Online workshops and seminars</p>
<p>·      BOCHK iService 24-hour video banking service</p>
<p>·      Transactional Net Promoter Score</p>
<p>·      BOCHK, BOC Credit Card (International) Limited (BOCCC), BOC Group Life Assurance Company Limited (BOC Life), Official WeChat accounts of BOC Credit Card, BOC Life, BOCHK Research and Southeast Asian entities</p>
<p>·      Corporate website</p>
<p>·      Online surveys/interviews</td>
</tr>
<tr>
<td width="129">Employees</td>
<td width="350">·      Employee mobile communication app Enterprise Instant Message (EIM), integrated mobile business platform eWorkplace, department meetings/ online meetings</p>
<p>·      Staff forums, breakfast meetings, corporate culture and recreational activities</p>
<p>·      Staff publications, intranet and internal circulars</p>
<p>·      Performance assessment, staff awards and recognition activities</p>
<p>·      Chief Executive’s mailbox, staff hotline and mailbox, HR Chatbot</p>
<p>·      Staff and volunteering activities</p>
<p>·      Online surveys/interviews</td>
</tr>
<tr>
<td width="129">Investors and Shareholders</td>
<td width="350">·      Annual General Meeting</p>
<p>·      Corporate communications and announcements</p>
<p>·      Annual and interim reports</p>
<p>·      Results briefings, road shows and corporate day events</p>
<p>·      Company visits, conference calls and video conferences</p>
<p>·      Annual investor conferences and seminars held by investment banks</p>
<p>·      Corporate website and social media</p>
<p>·      Investor relations emails and hotline</td>
</tr>
<tr>
<td width="129">Suppliers</td>
<td width="350">·      Meetings and communication</p>
<p>·      Due diligence procedures</p>
<p>·      Online surveys and regular reviews</p>
<p>·      On-site inspections</td>
</tr>
<tr>
<td width="129">Community Partners</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Sponsorships and donations</p>
<p>·      Post-event evaluation reports</p>
<p>·      Seminars, forums and sharing sessions</p>
<p>·      Meetings and communication</p>
<p>·      Diverse community activities (including volunteer events, tours, exchanges and visits)</td>
</tr>
<tr>
<td width="129">Media</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Press conferences, press releases and media interviews</p>
<p>·      Results announcements, annual and interim reports, corporate website and social media</p>
<p>·      Media enquiries</td>
</tr>
<tr>
<td width="129">Professional Institutions</td>
<td width="350">·      Representatives on committees of professional bodies</p>
<p>·      Forums, seminars and talks</p>
<p>·      Events sponsorship</td>
</tr>
<tr>
<td width="129">Government and Regulators</td>
<td width="350">·      Meetings, daily communication and reports</p>
<p>·      Representatives on committees of key industry and government bodies</p>
<p>·      Sponsorship and participation in forums, seminars and talks</p>
<p>·      Circulars and guidelines of regulatory authorities</p>
<p>·      On-site visits and inspections</td>
</tr>
</tbody>
</table>
<p><strong>How stakeholder engagement was made to identify material issues </strong></p>
<p>To identify and prioritise material topics BOCHK engaged with its stakeholders through online surveys, focus group discussions and one-to-one interviews.</p>
<p><strong>What actions were taken by</strong><strong> BOCHK </strong><strong>to create economic value for its stakeholders</strong><strong>?</strong></p>
<p>In its 2022 Sustainability Report BOCHK reports that it took the following actions for creating economic value for its stakeholders:</p>
<ul>
<li><strong>Creating economic value for employees </strong></li>
<li>In 2022, BOCHK paid HK$ 9,946 million for employee wages and benefits.</li>
</ul>
<ul>
<li><strong>Creating economic value for providers of capital</strong></li>
<li>In 2022, BOCHK paid HK$ 15,737 million to providers of capital.</li>
</ul>
<ul>
<li><strong>Creating economic value for governments</strong></li>
<li>In 2022, BOCHK paid HK$ 5,427 million to HKSAR government and HK$ 596 million to governments outside Hong Kong.</li>
</ul>
<ul>
<li><strong>Creating economic value for communities</strong></li>
<li>In 2022, BOCHK spent HK$ 36 million in community investments.</li>
</ul>
<p><strong>Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?</strong></p>
<p>The GRI Standard addressed in this case is: <a href="https://www.globalreporting.org/standards/media/1039/gri-201-economic-performance-2016.pdf" target="_blank" rel="noopener">Disclosure 201-1 Direct economic value generated and distributed</a></p>
<p><strong>Disclosure 201-1 </strong>Direct economic value generated and distributed corresponds to:</p>
<ul>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener">Sustainable Development Goal (SDG) 8</a>: Decent Work and Economic Growth</li>
<li><strong>Targets: </strong>8.1, 8.2</li>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener">Sustainable Development Goal (SDG) 9</a>: Industry, Innovation and Infrastructure</li>
<li><strong>Targets: </strong>9.1, 9.4, 9.5</li>
</ul>
<p>&nbsp;</p>
<p><strong>78% of the world’s 250 largest companies report in accordance with the GRI Standards</strong></p>
<p>SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.</p>
<p>Research by well-recognised institutions is clearly proving that <a href="https://sustaincase.com/articles-research/" target="_blank" rel="noopener noreferrer">responsible companies can look to the future with optimism</a>.</p>
<p><span style="font-size: 18pt;"><b>7 GRI sustainability disclosures get you started</b></span></p>
<p><b>Any size business can start taking sustainability action</b></p>
<p><span style="font-weight: 400;">GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)</span></p>
<ul>
<li style="font-weight: 400;"><span style="font-weight: 400;">Exclusive</span> <span style="font-weight: 400;">FBRH template to begin reporting from day one</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Identify your most important impacts on the Environment, Economy and People</span></li>
<li style="font-weight: 400;"><span style="font-weight: 400;">Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. </span></li>
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<p><a href="https://fbrh.co.uk/en/gri-sustainability-courses" target="_blank" rel="noopener"><span style="font-weight: 400;">See upcoming training dates.</span></a></p>
<p>References:</p>
<p>This case study is based on published information by BOCHK, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:</p>
<p><a href="https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2022_en.pdf" target="_blank" rel="noopener">https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2022_en.pdf</a></p>
<p>Note to BOCHK: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please <a href="mailto:editor@sustaincase.com" target="_blank" rel="noopener">contact us</a>.</p>
<p> </div>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-creates-economic-value-for-its-stakeholders/">Case study: How BOCHK creates economic value for its stakeholders</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>Case study: How BOCHK promotes sustainability across its supply chain</title>
		<link>https://sustaincase.com/case-study-how-bochk-promotes-sustainability-across-its-supply-chain/</link>
		
		<dc:creator><![CDATA[Gerasimos]]></dc:creator>
		<pubDate>Mon, 27 Jun 2022 06:03:17 +0000</pubDate>
				<category><![CDATA[case studies]]></category>
		<category><![CDATA[GRI Standards]]></category>
		<category><![CDATA[GRI-414]]></category>
		<category><![CDATA[SDG16]]></category>
		<category><![CDATA[SDG5]]></category>
		<category><![CDATA[SDG8]]></category>
		<category><![CDATA[SDGs category]]></category>
		<category><![CDATA[Sector: Financial Services]]></category>
		<category><![CDATA[supply chain]]></category>
		<category><![CDATA[BOCHK]]></category>
		<category><![CDATA[case study]]></category>
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		<guid isPermaLink="false">https://ccprowebs.com/new-sustaincase.com/?p=13782</guid>

					<description><![CDATA[<p>BOC Hong Kong (Holdings) Limited is one of the largest listed companies and commercial banking groups in Hong Kong, offering a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. In line with its sustainability strategy, BOCHK has set clear requirements on supplier standards regarding all aspects of social responsibility, ethics, corporate governance, environmental protection and labour conditions. This case study is based on the 2020 Sustainability Report by BOCHK, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ [&#8230;]</p>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-promotes-sustainability-across-its-supply-chain/">Case study: How BOCHK promotes sustainability across its supply chain</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>BOC Hong Kong (Holdings) Limited is one of the largest listed companies and commercial banking groups in Hong Kong, offering a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. In line with its sustainability strategy, BOCHK has set clear requirements on supplier standards regarding all aspects of social responsibility, ethics, corporate governance, environmental protection and labour conditions.</p>
<p><strong>This case study is based on the</strong><strong> 2020 Sustainability Report </strong><strong>by</strong> <strong>BOCHK</strong><strong>, </strong><strong>prepared in accordance with the GRI Standards, that can be found at this </strong><a href="https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2020_en.pdf" target="_blank" rel="noopener"><strong>link</strong></a><strong>. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.</strong></p>
<p><strong>Abstract</strong></p>
<p><strong>BOCHK encourages its suppliers to effectively manage the social and environmental impacts of their operations</strong>&nbsp;<a href="https://twitter.com/intent/tweet?text=BOCHK%20encourages%20its%20suppliers%20to%20effectively%20manage%20the%20social%20and%20environmental%20impacts%20of%20their%20operations&url=https%3A%2F%2Fsustaincase.com%2Fcase-study-how-bochk-promotes-sustainability-across-its-supply-chain%2F&via=sustaincase" target="_blank"><i class="fa fa-twitter">&nbsp;</i>Tweet This!</a>, with the aim of building a supplier system that uses resources effectively and properly implements environmental and social risk management. In order to promote sustainability across its supply chain BOCHK took action to:</p>
<ul>
<li>apply a Sustainable Procurement Policy</li>
<li>implement a Supply Chain Code of Conduct</li>
<li>promote due diligence</li>
</ul>
<p><a href="https://sustaincase.com/good-communication-with-responsible-csr-reporting/" target="_blank" rel="attachment wp-att-1719 noopener noreferrer"><img decoding="async" class="wp-image-1719 size-large tie-appear" src="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg" width="618" height="84" srcset="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg 1024w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-300x41.jpg 300w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-768x104.jpg 768w" sizes="(max-width: 618px) 100vw, 618px" /></a></p>
<div class="subscribe-for-free">
<h3>Subscribe for free and read the rest of this case study</h3>
<p>Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over <strong>2000 case studies.</strong> These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify &gt; Measure &gt; Manage &gt; Change).</p>
<h4>With this case study you will see:</h4>
<ul>
<li>Which are the <strong>most important impacts</strong> (material issues) BOCHK has identified;</li>
<li>How BOCHK proceeded with <strong>stakeholder engagement</strong>, and</li>
<li><strong>What actions</strong> were taken by BOCHK to promote sustainability across its supply chain</li>
</ul>
</div>
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<p><strong>What are the material issues the company has identified?</strong></p>
<p>In its 2020 Sustainability Report BOCHK identified a range of material issues, such as economic performance, talent acquisition and development, financial inclusion, customers experience and satisfaction. Among these, promoting sustainability across its supply chain stands out as a key material issue for BOCHK.</p>
<p><strong>Stakeholder engagement in accordance with the GRI Standards               </strong></p>
<p>The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:</p>
<p><a href="https://www.globalreporting.org/standards/gri-standards-download-center/gri-101-foundation-containing-standard-interpretation-1/" target="_blank" rel="noopener">“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”</a></p>
<p>Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.</p>
<p><strong>Key stakeholder groups BOCHK engages with:</strong></p>
<table width="479">
<tbody>
<tr>
<td width="129"><strong>Stakeholder Group</strong></td>
<td width="350"><strong>               Method of engagement</strong></td>
</tr>
<tr>
<td width="129">Customers</p>
<p>&nbsp;</td>
<td width="350">·      Communications with frontline staff and relationship managers</p>
<p>·      Contact centres</p>
<p>·      Online workshops and seminars</p>
<p>·      BOCHK iService 24-hour video banking service</p>
<p>·      Customer satisfaction surveys</p>
<p>·      Net Promoter Score (NPS) Survey</p>
<p>·      O­fficial WeChat accounts of BOCHK, BOC Credit Card, BOC Life, BOCHK Research and Southeast Asian entities •</p>
<p>·      Corporate website</p>
<p>·      Online surveys</td>
</tr>
<tr>
<td width="129">Employees</td>
<td width="350">·      Employee mobile communication app EIM (Enterprise Instant Message)</p>
<p>·      Staff publications</p>
<p>·      Intranet</p>
<p>·      Internal circulars</p>
<p>·      Departmental meetings</p>
<p>·      Chief Executive’s mailbox</p>
<p>·      Staff hotline</p>
<p>·      Staff performance assessment</p>
<p>·      Staff training</p>
<p>·      Staff activities</p>
<p>·      Volunteer activities</p>
<p>·      Awards and recognition activities</p>
<p>·      Online surveys</td>
</tr>
<tr>
<td width="129">Investors and Shareholders</td>
<td width="350">·      Annual General Meeting</p>
<p>·      Corporate communications</p>
<p>·      Annual and interim reports</p>
<p>·      Announcements</p>
<p>·      Result briefings</p>
<p>·      Road shows</p>
<p>·      Corporate day events</p>
<p>·      Annual conferences and seminars held by investment banks</p>
<p>·      Company visits, conference calls and virtual meetings</p>
<p>·      Online surveys / one-on-one interviews</p>
<p>·      Corporate website</p>
<p>·      Social media</p>
<p>·      Investor relations emails and hotline</td>
</tr>
<tr>
<td width="129">Suppliers</td>
<td width="350">·      Meetings and communication</p>
<p>·      Due diligence procedures</p>
<p>·      Regular supplier reviews</p>
<p>·      On-site inspections</p>
<p>·      Online surveys</td>
</tr>
<tr>
<td width="129">Community Partners</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Sponsorships and donations</p>
<p>·      Seminars, forums and sharing sessions</p>
<p>·      Meetings and communication</p>
<p>·      Diverse activities for the community (including volunteer events, tours, exchanges and visits)</p>
<p>·      Online surveys/one-on-one interviews</td>
</tr>
<tr>
<td width="129">Media</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Press conferences</p>
<p>·      Media interviews</p>
<p>·      Result briefings</p>
<p>·      Annual and interim reports</p>
<p>·      Press releases</p>
<p>·      Corporate website</p>
<p>·      Media enquiries</td>
</tr>
<tr>
<td width="129">Professional Institutions</td>
<td width="350">·      Representatives on committees of major professional bodies</p>
<p>·      Forums, seminars and talks</p>
<p>·      Events sponsorship</td>
</tr>
<tr>
<td width="129">Government and Regulators</td>
<td width="350">·      Meetings, daily communication and reports</p>
<p>·      Representatives on committees of major industries and government bodies</p>
<p>·      Forums, seminars and talks</p>
<p>·      Circulars and guidelines of regulatory authorities</p>
<p>·      On-site visits</td>
</tr>
</tbody>
</table>
<p><strong>How stakeholder engagement was made to identify material issues</strong></p>
<p>To identify and prioritise material topics BOCHK developed different questionnaires for different groups of stakeholders and solicited their opinions through online surveys, focus group discussions, and one-to-one interviews.</p>
<p><strong>What actions were taken by BOCHK to</strong> <strong>promote</strong> <strong>sustainability across its supply chain?</strong></p>
<p>In its 2020 Sustainability Report BOCHK reports that it took the following actions for promoting sustainability across its supply chain:</p>
<ul>
<li><strong>Applying a Sustainable Procurement Policy </strong></li>
<li>BOCHK’s Sustainable Procurement Policy sets out the entrance requirements and annual evaluation standards for its suppliers. New potential suppliers must undertake procedures such as register search and risk assessment. BOCHK has also put in place a supplier management system, to ensure compliance with sustainable development principles. During 2020, all new suppliers were evaluated on their social and environmental performance, with all meeting the required standards.</li>
</ul>
<ul>
<li><strong>Implementing a Supply Chain Code of Conduct</strong></li>
<li>BOCHK’s Supply Chain Code of Conduct provides guidelines for the Group’s procurement of major products and services and encourages suppliers to meet certain social and environmental standards. In determining its supplier standards, BOCHK has made reference to the International Labour Standards and Principles of Decent Work set out by the International Labour Organisation Core Conventions. Suppliers must formulate policies and recruitment measures in accordance with Hong Kong regulations, including those related to the prohibition of child labour and forced labour. BOCHK requires all new suppliers to submit a Supply Chain Code of Conduct Assessment Questionnaire, and will only consider them if they meet the required standards. If a supplier fails to meet the standards, BOCHK will take appropriate action including delisting them from its supplier list.</li>
</ul>
<ul>
<li><strong>Promoting due diligence</strong></li>
<li>BOCHK has clear requirements for suppliers’ due diligence on AML (anti-money laundering) and anti-bribery matters. When selecting suppliers, BOCHK follows its Anti-Bribery and Anti-Corruption Policy (“ABAC”) and its working documents, and attaches great importance to suppliers’ anti-bribery and anti-corruption management. To support due diligence on suppliers and monitor the procurement process, BOCHK has established policies and mechanisms such as the Centralised Procurement, Tender and Price Comparison Rules and the Administrative Measures for Supplier Management. BOCHK has also formulated anti-bribery and anti-corruption training for third-party suppliers that have business dealings with the Group. Under certain circumstances, BOCHK will require suppliers to complete the training and confirm their awareness of and compliance with the Group’s anti-bribery and anti-corruption requirements.</li>
</ul>
<p><strong>Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?</strong></p>
<p>The GRI Standard addressed in this case is: <a href="https://www.globalreporting.org/standards/media/1029/gri-414-supplier-social-assessment-2016.pdf" target="_blank" rel="noopener">Disclosure 414-1 New suppliers that were screened using social criteria</a></p>
<p><strong>Disclosure 414-1</strong> New suppliers that were screened using social criteria corresponds to:</p>
<ul>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener">Sustainable Development Goal (SDG) 5</a>: Gender Equality</li>
<li><strong>Targets: </strong>5.2</li>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener">Sustainable Development Goal (SDG) 8</a>: Decent Work and Economic Growth</li>
<li><strong>Targets: </strong>8.8</li>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener">Sustainable Development Goal (SDG) 16</a>: Peace, Justice and Strong Institutions</li>
<li><strong>Targets: </strong>16.1</li>
</ul>
<p><strong> </strong></p>
<p><strong>78% of the world’s 250 largest companies report in accordance with the GRI Standards</strong></p>
<p>SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.</p>
<p>Research by well-recognised institutions is clearly proving that <a href="https://sustaincase.com/articles-research/" target="_blank" rel="noopener noreferrer">responsible companies can look to the future with optimism</a>.</p>
<p><span style="font-size: 18pt;"><b>7 GRI sustainability disclosures get you started</b></span></p>
<p><b>Any size business can start taking sustainability action</b></p>
<p><span style="font-weight: 400;">GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Exclusive</span> <span style="font-weight: 400;">FBRH template to begin reporting from day one</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Identify your most important impacts on the Environment, Economy and People</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. </span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Benchmarking methodology to set you on a path of continuous improvement</span></li>
</ul>
<p><a href="https://fbrh.co.uk/en/gri-sustainability-courses" target="_blank" rel="noopener"><span style="font-weight: 400;">See upcoming training dates.</span></a><br />
References:</p>
<p>This case study is based on published information by BOCHK, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:</p>
<p><a href="https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2020_en.pdf" target="_blank" rel="noopener">https://www.bochk.com/dam/bochk/desktop/top/aboutus/esg/report/SustainabilityReport2020_en.pdf</a></p>
<p>Note to BOCHK: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please <a href="mailto:editor@sustaincase.com" target="_blank" rel="noopener">contact us</a>.</p>
<p> </div>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-promotes-sustainability-across-its-supply-chain/">Case study: How BOCHK promotes sustainability across its supply chain</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
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			</item>
		<item>
		<title>Case study: How BOCHK promotes employee growth and professional development</title>
		<link>https://sustaincase.com/case-study-how-bochk-promotes-employee-growth-and-professional-development/</link>
		
		<dc:creator><![CDATA[Gerasimos]]></dc:creator>
		<pubDate>Mon, 16 Dec 2019 07:25:50 +0000</pubDate>
				<category><![CDATA[case studies]]></category>
		<category><![CDATA[GRI Standards]]></category>
		<category><![CDATA[GRI-404]]></category>
		<category><![CDATA[SDG8]]></category>
		<category><![CDATA[SDGs category]]></category>
		<category><![CDATA[Sector: Financial Services]]></category>
		<category><![CDATA[BOCHK]]></category>
		<category><![CDATA[case study]]></category>
		<category><![CDATA[employee training and development]]></category>
		<category><![CDATA[sustain case]]></category>
		<category><![CDATA[sustainability]]></category>
		<guid isPermaLink="false">https://ccprowebs.com/new-sustaincase.com/?p=10265</guid>

					<description><![CDATA[<p>Bank of China (Hong Kong) Limited (BOCHK) is a leading commercial banking group, one of the three note-issuing banks and one of the largest listed companies in Hong Kong. BOCHK considers its employees to be precious assets and, based on a people-oriented philosophy, constantly enhances its human resources management system so as to attract, identify and nurture talents. This case study is based on the 2018 Corporate Social Responsibility Report by BOCHK published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting [&#8230;]</p>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-promotes-employee-growth-and-professional-development/">Case study: How BOCHK promotes employee growth and professional development</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Bank of China (Hong Kong) Limited (BOCHK) is a leading commercial banking group, one of the three note-issuing banks and one of the largest listed companies in Hong Kong. BOCHK considers its employees to be precious assets and, based on a people-oriented philosophy, constantly enhances its human resources management system so as to attract, identify and nurture talents.</p>
<p><strong>This case study is based on the</strong><strong> 2018 Corporate Social Responsibility Report </strong><strong>by</strong> <strong>BOCHK published on the Global Reporting Initiative </strong><a href="http://database.globalreporting.org/" target="_blank" rel="noopener noreferrer"><strong>Sustainability Disclosure Database</strong></a><strong> that can be found at this </strong><a href="https://database.globalreporting.org/reports/65143/" target="_blank" rel="noopener noreferrer"><strong>link</strong></a><strong>. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.</strong></p>
<p><strong>Abstract</strong></p>
<p><strong>BOCHK seeks to provide an ideal career development platform for its staff</strong>&nbsp;<a href="https://twitter.com/intent/tweet?text=BOCHK%20seeks%20to%20provide%20an%20ideal%20career%20development%20platform%20for%20its%20staff&url=https%3A%2F%2Fsustaincase.com%2Fcase-study-how-bochk-promotes-employee-growth-and-professional-development%2F&via=sustaincase" target="_blank"><i class="fa fa-twitter">&nbsp;</i>Tweet This!</a>, enhancing employees’ career development and strengthening their professional capabilities and sense of accomplishment through various means, in order to facilitate the mutual development of employees and the Group. In order to promote employee growth and professional development BOCHK took action to:</p>
<ul>
<li>provide employees with continuing education opportunities</li>
<li>nurture young talent</li>
<li>promote on-the-job training</li>
</ul>
<p><a href="https://sustaincase.com/good-communication-with-responsible-csr-reporting/" target="_blank" rel="attachment wp-att-1719 noopener noreferrer"><img decoding="async" class="wp-image-1719 size-large tie-appear" src="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg" width="618" height="84" srcset="https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-1024x139.jpg 1024w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-300x41.jpg 300w, https://sustaincase.com/wp-content/uploads/2016/10/Identify-measure-manage-change-768x104.jpg 768w" sizes="(max-width: 618px) 100vw, 618px" /></a></p>
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<h3>Subscribe for free and read the rest of this case study</h3>
<p>Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over <strong>2000 case studies.</strong> These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify &gt; Measure &gt; Manage &gt; Change).</p>
<h4>With this case study you will see:</h4>
<ul>
<li>Which are the <strong>most important impacts</strong> (material issues) BOCHK has identified;</li>
<li>How BOCHK proceeded with <strong>stakeholder engagement</strong>, and</li>
<li><strong>What actions</strong> were taken by BOCHK to promote employee growth and professional development</li>
</ul>
</div>
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<p><strong>What are the material issues the company has identified?</strong></p>
<p>In its 2018 Corporate Social Responsibility Report BOCHK identified a range of material issues, such as economic performance, compliance with labour laws and regulations, water resources management, product and service labelling, customer privacy. Among these, promoting employee growth and professional development stands out as a key material issue for BOCHK.</p>
<p><strong>Stakeholder engagement in accordance with the GRI Standards               </strong></p>
<p>The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:</p>
<p><a href="https://www.globalreporting.org/standards/gri-standards-download-center/gri-101-foundation-containing-standard-interpretation-1/" target="_blank" rel="noopener noreferrer">“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”</a></p>
<p>Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.</p>
<p><strong>Key stakeholder groups BOCHK engages with:</strong></p>
<table width="479">
<tbody>
<tr>
<td width="129"><strong>Stakeholder Group</strong></td>
<td width="350"><strong>               Method of engagement</strong></td>
</tr>
<tr>
<td width="129">Customers</p>
<p>&nbsp;</td>
<td width="350">·      Communications with front-line staff</p>
<p>·      Meetings with relationship managers</p>
<p>·      Contact centre</p>
<p>·      Customer satisfaction surveys</p>
<p>·      Collection of customer feedback</p>
<p>·      Corporate website</p>
<p>·      Customer relationship events (e.g. talks, seminars, fun days, etc.)</p>
<p>·      BOCHK iService 24-hour video banking service</p>
<p>·      Offi­cial WeChat accounts of BOCHK, BOC Credit Card and Southeast Asian entities</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
<tr>
<td width="129">Employees</td>
<td width="350">·      Staff magazine, intranet and internal announcements</p>
<p>·      Department meetings</p>
<p>·      Chief Executive’s mailbox</p>
<p>·      Staff discussion forums to collect feedback and suggestions from employees</p>
<p>·      Staff hotline</p>
<p>·      Staff performance assessment</p>
<p>·      Staff training</p>
<p>·      Staff networking events</p>
<p>·      Cross-unit CSR Task Force</p>
<p>·      Awards and recognition activities</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
<tr>
<td width="129">Shareholders and the investment community</p>
<p>&nbsp;</td>
<td width="350">·      Company’s Annual General Meetings</p>
<p>·      Corporate communications (including annual reports, interim reports and announcements)</p>
<p>·      Results brie­fings</p>
<p>·      Corporate website</p>
<p>·      Investors’ emails and meetings</p>
<p>·      Global roadshows</p>
<p>·      Investor conferences held by investment banks</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
<tr>
<td width="129">Suppliers</td>
<td width="350">·      Meetings and communications</p>
<p>·      Regular supplier reviews</p>
<p>·      On-site inspections</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
<tr>
<td width="129">Community</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Sponsorships and donations</p>
<p>·      Seminars, forums and sharing sessions</p>
<p>·      Meetings and communications</p>
<p>·      Diverse activities for the community (including tours, exchanges and visits)</p>
<p>·      Volunteer activities</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
<tr>
<td width="129">Media</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</td>
<td width="350">·      Press conferences</p>
<p>·      Media interviews</p>
<p>·      Corporate communications (including annual reports, interim reports and press releases)</p>
<p>·      Corporate website</p>
<p>·      Media enquiries</p>
<p>·      Stakeholder engagement surveys / interviews</td>
</tr>
</tbody>
</table>
<p><strong>How stakeholder engagement was made to identify material issues</strong></p>
<p>To identify and prioritise material topics BOCHK engaged with its stakeholders &#8211; including employees, customers, investors, regulators, professional institutions, charity partners, suppliers and media organisations &#8211; through interviews and online surveys.</p>
<p><strong><a href="https://fbrh.co.uk/en/gri-certified-training/2-day-fbrh-gri-standards-certified-training-course-about" target="_blank" rel="noopener noreferrer"><img loading="lazy" decoding="async" class="alignright size-full wp-image-11761" src="https://sustaincase.com/wp-content/uploads/2020/08/sustainability-GRI-report-key-doc-for-success-ad-sustaincase-GRI-SDG-ESG-Sustainability-report-200x320px.jpg" alt="" width="200" height="320" /></a>What actions were taken by BOCHK to</strong> <strong>promote employee growth and professional development?</strong></p>
<p>In its 2018 Corporate Social Responsibility Report BOCHK reports that it took the following actions for promoting employee growth and professional development:</p>
<ul>
<li><strong>Providing employees with continuing education opportunities </strong></li>
<li>BOCHK provides staff with continuing education opportunities and draws up career development plans that align employees’ personal aspirations with the Group’s long-term development. In keeping with its “four-in-one” talent development culture, BOCHK encourages senior executives, department heads, human resources department and employees to devise training activities together in order to enhance employee performance and meet BOCHK’s business development needs, so as to further strengthen their professional knowledge and skills.</li>
</ul>
<ul>
<li><strong>Nurturing young talent</strong></li>
<li>Through the Management Trainee Programme and Graduate Programme, BOCHK globally recruits elite, high-potential university graduates who aspire to join the financial services sector. In addition, BOCHK fully supports and implements the national development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, recruiting elite university graduates in the Greater Bay Area through the Branch Trainee Programme. Under these programmes, systematic training including classroom training, on-the-job training, post rotation and other relevant schemes such as career mentorship and career planning programmes are offered, to help young professionals plan their career paths.</li>
</ul>
<ul>
<li><strong>Promoting on-the-job training</strong></li>
<li>BOCHK seeks to promote and facilitate employees’ on-the-job training and development. Different training courses are offered, covering product and business knowledge, customer service, operational management, compliance and risk management, key staff training, team management and leadership, etc. In 2018, the average training hours undertaken by each full-time employee exceeded 40. During the year, BOCHK also encouraged employees to take part in inter-departmental exchanges and provided mainland and overseas exchange opportunities for employees to enrich their business knowledge and broaden their horizons. Additionally, BOCHK developed internal training courses with reference to the Speci­fication of Competency Standards (“SCS”). So far, BOCHK has established six SCS-based courses, ranging from level three to ­five (equivalent to a Bachelor’s degree) under the Quali­fications Framework, that are recognised by the Hong Kong Council for the Accreditation of Academic and Vocational Qualifi­cations, thereby helping to enhance employees’ professional skills and recognition. To promote the development of its Southeast Asian employees, for the past three years BOCHK has arranged executives and key staff from its Southeast Asian institutions to go to Hong Kong to learn about best practices in the ­finance sector. This has helped to nurture international talent for the Group and enhanced its steady deve</li>
</ul>
<p><strong>Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?</strong></p>
<p>The GRI Standard addressed in this case is: <a href="https://www.globalreporting.org/standards/media/1019/gri-404-training-and-education-2016.pdf" target="_blank" rel="noopener noreferrer">Disclosure 404-2 Programs for upgrading employee skills and transition assistance programs</a></p>
<p><strong>Disclosure 404-2</strong> Programs for upgrading employee skills and transition assistance programs corresponds to:</p>
<ul>
<li><a href="https://www.globalreporting.org/standards/resource-download-center/sdg-compass-annex-linking-the-sdgs-and-gri-standards/" target="_blank" rel="noopener noreferrer">Sustainable Development Goal (SDG) 8</a>: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all</li>
<li><strong>Business theme: </strong>Employee training and education</li>
</ul>
<p><strong> </strong></p>
<p><strong>78% of the world’s 250 largest companies report in accordance with the GRI Standards</strong></p>
<p>SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.</p>
<p>Research by well-recognised institutions is clearly proving that <a href="https://sustaincase.com/articles-research/" target="_blank" rel="noopener noreferrer">responsible companies can look to the future with optimism</a>.</p>
<p><span style="font-size: 18pt;"><b>7 GRI sustainability disclosures get you started</b></span></p>
<p><b>Any size business can start taking sustainability action</b></p>
<p><span style="font-weight: 400;">GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Exclusive</span> <span style="font-weight: 400;">FBRH template to begin reporting from day one</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Identify your most important impacts on the Environment, Economy and People</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. </span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Benchmarking methodology to set you on a path of continuous improvement</span></li>
</ul>
<p><a href="https://fbrh.co.uk/en/gri-sustainability-courses" target="_blank" rel="noopener"><span style="font-weight: 400;">See upcoming training dates.</span></a></p>
<p><strong> </strong></p>
<p>References:</p>
<p>1) This case study is based on published information by BOCHK, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:</p>
<p><a href="http://database.globalreporting.org/" target="_blank" rel="noopener noreferrer">http://database.globalreporting.org/</a></p>
<p>2) <a href="https://www.globalreporting.org/standards/gri-standards-download-center/" target="_blank" rel="noopener noreferrer">https://www.globalreporting.org/standards/gri-standards-download-center/</a></p>
<p>Note to BOCHK: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please <a href="mailto:editor@sustaincase.com" target="_blank" rel="noopener noreferrer">contact us</a>.</p>
<p> </div>
<p>The post <a href="https://sustaincase.com/case-study-how-bochk-promotes-employee-growth-and-professional-development/">Case study: How BOCHK promotes employee growth and professional development</a> appeared first on <a href="https://sustaincase.com">SustainCase - Sustainability Magazine</a>.</p>
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