Reflecting on the last few months of industry events, partner conversations and Member meetings, here are my observations on some major barriers to social innovation in Hong Kong. Some of my views may be unpopular, but then again we’re not here to be mainstream. Alongside each is an example of what we’ve tried in overcoming that barrier, in case it’s useful to others.
As a sustainability professional, I often heard versions of the same message: “sustainability is for rich companies that have money to spare”. Over the years, this outlook has changed in part due to greater exposure to climate risks. Before we truly understood the magnitude of the Covid pandemic, the World Economic Forum Global Risks Report’s top risks in terms of likelihood and impact heavily featured environmental issues.
In 2012/13, I was tasked to help establish a whole new government funding scheme, namely the Social Innovation and Entrepreneurship Development (SIE) Fund, with an aim to provide impetus to propel the development of social entrepreneurs and build the local social innovation ecosystem. At the time, the government had been providing resources to fund and support the development of the social enterprise sector for almost a decade. The staunch support from the government had already enabled the social enterprise sector to flourish and gain recognition generally in Hong Kong.
We’re proud and very excited that two Shared Value Project Hong Kong Members are winners of the 2020 Shared Value Awards. Adrian Cheng, Chief Executive Officer and Executive Vice-Chairman at New World Development Company Limited has been named Shared Value Champion, while SUEZ NWS received the Shared Value Project of the Year to Watch for their work on the Shanghai Chemical Industry Park.
With a strong presence of 45+ years in Greater China, SUEZ NWS is a preferred partner in helping authorities and industrial clients develop water and waste management solutions that enable cities and industries to optimise their resource management and strengthen their environment and economic performances. By joining SVPHK, SUEZ NWS can leverage our expertise to strive for solutions on societal problems and address community need together with other members of SVPHK.
There’s a new business movement percolating in Hong Kong which is causing companies, large and small, to re-think how and why they will operate in a post-pandemic society. The concept of embedding purpose, as well as profit, in business strategy has been introduced to members of the British Chamber of Commerce by the Hong Kong chapter of a global initiative which has grown out of Harvard Business School.