NewsAsia sustainability index launched in Hong Kong

Singapore broadcaster Channel NewsAsia (CNA) launched a new index on Tuesday that will identify the leading firms in corporate sustainability across 10 Asian economies.

The Channel NewsAsia Sustainability Ranking was developed with consultancy firms CSR Asia and Sustainalytics and will lists the top 100 companies in Asia with the highest sustainability performance.

It highlights the overall top 20 companies and the top three businesses per economy.

The index was launched in Hong Kong this weak and covers China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.

Tata Consultancy Services of India emerged at the top of the ranking for its focus on water conservation.

Singapore property developer City Developments Limted (CDL) was ranked second, while Unilever Indonesia followed in third place.

Debra Soon, managing director of Channel NewsAsia, said: “This is the Asian century, and businesses in the region need to be spot on with their processes to be more effective on the global field.”

Kwek Leng Joo, CDL deputy chairman, said: “Globally, buildings account for some 40 per cent of energy consumption and 30 per cent of greenhouse gas emissions. There is an urgent need for our industry to mitigate the impact of our activities on the environment. That is why CDL has strived to pursue the creation of sustainable developments.”

Companies included in the ranking are publicly listed and selected based on research provided by research firm Sustainalytics, which assessed about 1,000 companies based on three themes - environment, social, and governance (ESG).

Between 75 and 120 indicators were used to assess each company, according to the firm.

The top 100 companies led their respective industries in the region in areas such as environmental initiatives, impact on local communities, treatment of employees and supply-chain management.

The Sustainability Ranking is based on available disclosure as of June 2014. Information provided after the ranking was assembled was not taken into consideration.