Hong Kong's best bank for CSR 2019: Bank of China (Hong Kong)
Bank of China (Hong Kong)
When super-typhoon Mangkhut roared through Hong Kong in the middle of last September, the most intense such weather vent to strike the territory since records began 73 years ago, it devastated the MacLehose Trail, the much-loved track that traverses 100 kilometres across Hong Kong’s New Territories.
Within hours of the tempest abating, teams of Bank of China volunteers were out braving the end of Mangkhut’s wrath to restore the devastated track: clearing paths, cleaning up debris, unblocking drains. It was a smart initiative, a savvy example of the soft but highly visible energy China’s state institutions are deploying in Hong Kong and across the region.
In 2018, BOCHK, whose CEO is Gao Yingxin, focused its CSR effort on youth development, poverty alleviation and support for the disadvantaged, donating to 25 charities covering these areas. Volunteers summoned team friends and family members to serve in more than 100 events through 2018, giving a total of 50,000 man- (and woman-) hours to serve community initiatives.
In line with directives from Beijing, BOC also stepped up its green credit efforts, claiming to underwrite about 30% of the so-called green bonds issued in the Hong Kong market in 2018.