The Transport and Logistics Bureau of Hong Kong releases the "ESG Development Roadmap for the Logistics Industry" to help small and medium enterprises enhance their competitiveness.

Today, the Transport and Logistics Bureau of Hong Kong announced the "ESG Development Roadmap for the Logistics Industry" for small and medium-sized logistics enterprises in Hong Kong to follow, in order to meet international environmental, social, and governance (ESG) requirements and enhance the competitiveness of Hong Kong's logistics industry, consolidating Hong Kong's position as an international logistics hub. A spokesperson for the Transport and Logistics Bureau stated that for Hong Kong's logistics small and medium-sized enterprises deeply integrated into the global supply chain, practicing ESG is no longer a choice, but a necessary step to ensure business survival and maintain international competitiveness. The "Roadmap" covers a three-year period from 2025 to 2027, divided into three stages for logistics small and medium enterprises to build the capacity to collect and report ESG data, in order to meet the most stringent international ESG disclosure requirements by the end of the "Roadmap". The first stage includes increasing awareness of ESG principles and international ESG requirements among logistics small and medium-sized enterprises; the second stage involves enhancing the ability of logistics small and medium-sized enterprises to collect and record logistics ESG data; and the third stage aims to help logistics small and medium-sized enterprises prepare for ESG reporting, which is expected to become the next phase of international requirements for ESG. The spokesperson also noted that ESG has become an international trend, with the European Union now mandating ESG disclosure along the entire supply chain starting this year, and mainland China also developing ESG disclosure standards and planning to cover all enterprises, including small and medium-sized enterprises, by 2030. It is hoped that the "Roadmap" can provide simple and understandable guidance for logistics small and medium-sized enterprises to carry out ESG practices, enhance industry competitiveness, and thereby reinforce Hong Kong's position as an international logistics hub. Green and sustainable development is one of the directions for the logistics industry outlined by the Hong Kong SAR government in the "Modern Logistics Development Action Plan" announced in October 2023. In order to promote green and sustainable logistics development, the government has committed in the "Action Plan" to formulate a clear ESG roadmap for the industry to help logistics enterprises gradually meet international ESG requirements. After conducting consultant research, referencing international ESG standards and market conditions, and consulting various organizations and individuals in the logistics industry, the Transport and Logistics Bureau of Hong Kong formulated the "Roadmap".