The Transport & Logistics Bureau today unveiled its "Roadmap for ESG (environmental, social and governance) Development for Logistics Industry", aimed at helping local small and medium-sized enterprises (SMEs) in the sector achieve compliance with international ESG requirements.

In its Action Plan on Modern Logistics Development, promulgated in October 2023, the Government committed to formulating a clear ESG roadmap for the logistics industry and to promoting the development of green and sustainable logistics.

After commissioning a consultancy study, the bureau has worked with the Hong Kong Logistics Development Council and various stakeholders in the industry to devise a roadmap that takes account of international ESG standards and current market developments.

The roadmap covers a three-year period, from 2025 to 2027, and adopts a three-stage approach for logistics SMEs to build up their ESG data collection and reporting capabilities and meet the most stringent prevailing international ESG disclosure requirements by the time the roadmap expires.

The first stage involves raising logistics SMEs’ awareness of ESG principles and international ESG requirements. The second stage will involve equipping logistics SMEs with ESG data collection capabilities, and the third will aim to prepare them to carry out ESG reporting.

The bureau highlighted that ESG has become an international trend, with the European Union having already made ESG disclosures along whole supply chains compulsory for enterprises from this year onwards, and the Mainland also formulating its own ESG disclosure standards, which are to be applicable to all companies, including SMEs, by 2030.

For Hong Kong logistics SMEs, the bureau added, ESG adoption is no longer an option but an essential step for their survival and the maintenance of their global competitiveness.

It said it hopes the roadmap will provide logistics SMEs with an easy-to-follow guide to embark on their ESG journey and help to enhance the competitiveness of Hong Kong’s logistics industry, thereby consolidating its position as an international logistics hub.

The bureau outlined that it will co-operate with industry stakeholder to promote adoption of the roadmap, and will review and update the roadmap in a timely manner ahead of its expiry with reference to prevailing international ESG requirements.

Meanwhile, the bureau also launched today a dedicated online ESG resource centre on the Hong Kong Logistics Development Council’s website. The resource centre is intended to serve as a one-stop portal for information related to ESG.

Additionally, to assist logistics SMEs in beginning their ESG journey, the bureau will this year launch a set of ESG data collection tools to facilitate effective collection and recording of logistics ESG data.