(Stock Code: 440)
2023
Environmental, Social and Governance Report
Table of Contents
1 | About this Report | 03 | ||||||
2 | Commitment and Governance | 07 | ||||||
3 | Responsible Business | 15 | ||||||
4 | Marketplace | 22 | ||||||
5 | Workplace | 29 | ||||||
6 | Community | 37 | ||||||
7 | Environment | 42 | ||||||
8 | Our Performance | 48 | ||||||
9 | Content Indices | 55 | ||||||
Making Connections for a Better and Sustainable Future
The Group recognises that the pursuit for a sustainable future cannot be achieved alone, and the interconnectedness between our stakeholders, our operations and the environment has become more apparent than before. Our commitment towards long-term sustainability, as outlined in this report, is reflected in our eorts to foster a harmonious relationship between economic progress, environmental stewardship, and community well-being through the products and services that we oer.
About this | Commitment | Responsible | Marketplace | Workplace | Community | Environment | Our | Content |
Report | and | Business | Performance | Indices | ||||
Governance |
About this Report
This Report covers the major subsidiaries of Dah Sing Financial Holdings Limited (the "Group") for the period from 1 January to 31 December 2023. There has been no significant change in the reporting boundary for our 2023 ESG Report nor any significant changes to our organisational size, structure, ownership or supply chain.
During the year, the Group has complied with all applicable disclosure requirements and provisions of the Environmental, Social and Governance ("ESG") Reporting Guide set out in Appendix C2 of the Listing Rules in respect of the financial year ended 31 December 2023. In addition, this report is prepared with reference to the IFRS S2 Climate-related Disclosures.
This Report provides an annual update of the initiatives, plans and performance of the Group in ESG topics in 2023. It provides a summary of the activities and measures taken by the Group and our key subsidiaries across the Group's core operations in banking and insurance in our key markets in Hong Kong, Macau and Mainland China with respect to the material ESG matters under five categories - Responsible Business, Marketplace, Workplace, Community and Environment. There is no significant change in the scope of this Report from that of the 2022 ESG Report. This ESG Report should be read in conjunction with the Corporate Governance Report in the Group's 2023 Annual Report, which is also accessible on the website of Dah Sing Bank, Limited ("DSB" or the "Bank") at www.dahsing.com. This Report was endorsed by the Audit Committee and approved by the Board of Directors (the "Board") in March 2024.
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About this | Commitment | Responsible | Marketplace | Workplace | Community | Environment | Our | Content |
Report | and | Business | Performance | Indices | ||||
Governance |
Stakeholder Engagement
The Group recognises that the pursuit of a sustainable future has become paramount and this could not be achieved alone. The interconnectedness between our stakeholders, our operations and the environment has been more apparent than before which is reflected in our unwavering dedication to fostering a sustainable and inclusive future. To this end, the Group seeks to continuously engage our key stakeholders through diverse channels to understand their views with regards to ESG priorities, and to review and update the topics of key materiality to our business operations.
The table below outlines the engagement channels we have in place to communicate with our key stakeholders.
Key Stakeholders | Engagement Channels |
Employees | • Training, seminars and briefing sessions |
- Performance management
- Surveys
- Dah Sing Fun Club
- Employee Assistance Programme
- Internal newsletters
- Business Operations Portal/intranet
- Recreational and volunteer activities
Customers | • | Relationship manager visits |
• Corporate websites, mobile apps and social media platforms | ||
• | Customer service hotlines | |
• Service Quality Department that responds to customer feedback | ||
• Talks, seminars and webinars | ||
• | Customer satisfaction surveys | |
• | Transactional surveys | |
• | Newsletters | |
• Branches and SME centres | ||
Shareholders | • | Annual General Meeting and other general meetings |
• | Corporate websites | |
• Corporate communications including announcements, circulars, | ||
interim and annual reports | ||
• | Share registrar | |
Suppliers | • | Regular meetings and communications |
• | Regular supplier reviews | |
• | Supplier management | |
Regulators | • | Regular meetings and communications |
• On-site reviews | ||
• | Compliance reports | |
Rating agencies | • | Regular meetings and communications |
Communities | • | Volunteer activities |
• | Sponsorships and donations | |
• | Community outreach |
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About this | Commitment | Responsible | Marketplace | Workplace | Community | Environment | Our | Content |
Report | and | Business | Performance | Indices | ||||
Governance |
Materiality Assessment and Materiality Matrix
We have taken the following three steps to understand different stakeholders' views and to update our materiality matrix for 2023:
Identification
Prioritisation
Validation and
Evaluation
Group Materiality Matrix
A total of 22 material topics, identified in 2022, were evaluated based on observation of latest industry trends and peer practices.
The list of material topics was prioritised through questionnaires with different stakeholder groups. In the survey, stakeholders were invited to provide suggestions and views on the addition or removal of material topics.
The material topics prioritised were reviewed by the ESG Committee and the Board, informing the Group's strategic direction in addressing the topics of the highest importance to our stakeholders.
High
Stakeholder interest Medium | 17 |
21 | |
5 | |
Low | |
Low |
Responsible Business
6
7 | 9 | 8 |
2
4
13 12
18 | 22 | 1 | ||
10 | 11 | |||
19 | 15 | 14 | ||
16 | ||||
20 | 3 |
Moderate | High |
Significance to business
Maketplace Workplace Community Environment
We observed a significant increase of stakeholder interest in #6 Support for Green Finance compared to 2022, reflecting the higher priority placed by external stakeholders to increase efforts in green finance. It was in line with the Hong Kong Special Administrative Region ("SAR") Government's initiatives to establish itself as one of the leading global hubs for GreenTech and GreenFi as highlighted in its 2023/24 Budget announcement, and also with our increasing emphasis on green finance, including the increase in ESG funds distributed by our two banking subsidiaries, DSB and Banco Comercial de Macau, S.A. ("BCM").
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About this | Commitment | Responsible | Marketplace | Workplace | Community | Environment | Our | Content |
Report | and | Business | Performance | Indices | ||||
Governance |
Heightened interest by internal stakeholders in #11 Economic Performance reflected their vigilance of the challenging economic environment and the continued weakness in commercial and economic activities. They might seek to prioritise improving economic performance in 2023 amid higher levels of uncertainty and volatility in the market.
Meanwhile, the focus by the Hong Kong Monetary Authority ("HKMA") and The Hong Kong Association of Banks in 2023 on the revised Code of Banking Practice with emphasis placed on customer protection might have resulted in a higher perceived materiality by external stakeholders on #10 Financial Inclusion.
Category | # | Material topics | Relevant sections | |
Responsible | 1 | Responsible Products and Services | • | Responsible Products and Services |
Business | ||||
2 | Ethical Behaviour, Anti-Money | • | Information Security and | |
Laundering ("AML") and Anti-corruption | Cybersecurity | |||
• Ethical Behaviour, AML and | ||||
Anti-corruption | ||||
3 | Labour Standards | • | Workplace | |
4 | Climate Risk | • | Climate-related Risks | |
5 | Supply Chain Management | • | Supply Chain Management | |
Marketplace | 6 | Support for Green Finance | • | Green and Sustainable Products |
7 | Support for SMEs | • | Support for SMEs | |
8 | Customer Satisfaction | • | Customer Focus | |
9 | Customer Data Privacy | • | Customer Focus | |
10 | Financial Inclusion | • | Customer Focus | |
• | Digitalisation | |||
11 | Economic Performance | • | Economic Performance | |
Workplace | 12 | Employment | • | Culture and Values |
• Talent Attraction and Retention | ||||
13 | Training and Development | • | Training and Development | |
14 | Health and Safety | • | Health, Safety and Well-being | |
15 | Diversity and Equal Opportunity | • | Diversity and Equal Opportunity | |
Community | 16 | Supporting the Younger Generation | • | Youth Development |
17 | Promotion of Sports and | • | Promotion of Sports and Support | |
Support for Those in Need | for Those in Need | |||
18 | Environmental Conservation | • | Green Awareness Promotion | |
Environment | 19 | Energy and Greenhouse Gas Emission | • | Environmental Footprint |
Management | • | Staff Awareness and Engagement | ||
20 | Waste Management | • | Environmental Footprint | |
21 | Water Use | • | Environmental Footprint | |
22 | Going Paperless | • | Paperless |
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Governance |
Commitment and Governance
The Group has consistently demonstrated our commitment to fulfilling our brand promise to progress and prosper alongside our customers and the communities we serve in Hong Kong and the Greater Bay Area ("GBA"). In line with the Group's ESG roadmap, we have dedicated our efforts to maximising value creation for our stakeholders in key strategic domains. Our aim is to build an ecosystem where our customers, staff and the communities we serve are interconnected by a shared goal of building and transitioning towards a more resilient and sustainable future.
Snapshot of Our ESG Strategy
ESG Governance
Establish ESG positioning under Board's oversight
Marketplace
Prioritise Green and Sustainable
Banking ("GSB") and
differentiate with SME focus
Workplace
Build an engaged workforce to
enhance employee loyalty
Governance
Establish clear accountability on ESG oversight and strategy implementation
Communication
Regularly communicate our ESG initiatives to our internal and external stakeholders
Reporting
Continuously improve disclosure quality and performance tracking
Green and Sustainable Banking
Build capacity, raise GSB awareness and establish our green product shelves
SME Support
Increase outreach to and assist small and medium enterprises ("SMEs") in ESG transition
Customer Focus
Improve customer experience and reinforce customer centricity
Digitalisation
Optimise customer experience and operational impact through digital transformation
Culture and Ethical Behaviours
Promote ethical behaviours to uphold the Group's Culture and Values
Training and Development
Enhance organisation and leadership capabilities for future-ready workforce
Health and Well-being
Promote health awareness and provide flexible and healthy work environment
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About this | Commitment | Responsible | Marketplace | Workplace | Community | Environment | Our | Content |
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Governance |
Community
Enrich our community strategy
to enhance impact
Environment
Sharpen our focus on
environmental Key Performance Indicators ("KPIs") for strategic impact and operational efficiency
Youth Education
Support youth education with a focus on STEAM (Science, Technology, Engineering, Arts and Mathematics) and targeting under-privileged children
Youth Sports
Promote sports as a means of nurturing all-round youth development
ESG Awareness
Raise the awareness of ESG matters in the community for promoting sustainable development
Volunteering
Engage our employees to contribute to the society through volunteering activities
Environmental Footprint
Reduce our environmental footprint and influence our supply chain
Paperless
Reduce paper consumption through digitalising operational processes and engaging customers on digital adoption
Staff Awareness and Engagement
Promote environmental conservation to our staff for a greener planet
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Governance |
Key Achievements for 2023
Implemented greenness assessment framework as an onboarding criteria for borrowers in seven carbon-intensiveindustries
Offered a total of
33 and 16 ESG investment funds
in DSB and BCM to provide more fund choices respectively
Marketplace
Awarded Certificate of Merit in "Hong Kong ICT Awards 2023 - Fintech (Applied Solutions)" for proprietary AI product recommendation engine "Next Best Action" which analyses customer financial habits to predict financial needs
Completed digital banking revamp with
87 new / enhanced features and capabilities
Launched Cultureland gamification programme to enhance awareness of Group culture and values
94,723 employee training hours for staff development
Workplace
711 training hours in climate-related risks and green and sustainable finance
Recognised in "SportsHour Company Scheme"* for promoting employee well-being through daily physical activities
*Organised by InspiringHK Sports Foundation
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Governance |
16% reduction in paper usage, compared to our baseline in 2020
Planted 5,216 trees through Mastercard Priceless | |
Environment | Planet Coalition Programme contributed through customer |
e-statement enrolment campaign |
BCM introduced a new summer uniform for branch staff, enabling staff to stay cool to reduce energy consumption of air-conditioning
1,356 volunteers | |
contributing 4,058 volunteering hours | |
1,494 beneficiaries engaged through community | |
programmes and activities | |
Co-organised Metaverse ArtTech Creation Course 2023 | Community |
with Chinese YMCA of Hong Kong to provide ArtTech | |
training and immersive digital art experiences to | |
80 primary and secondary students in Hong Kong | |
Co-organised the BCM Bowling Open Competition | |
with Macau China Bowling Association for third year | |
to raise funds for Macau Association for Intellectual | |
Development Services |
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Dah Sing Banking Group Limited published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 09:35:03 UTC.