HONG KONG–(BUSINESS WIRE)–Tricor Group (Tricor), Asia’s leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services, fund administration, and strategic business advisory, released its inaugural 2020/2021 Environmental, Social and Governance (ESG) ‘Pathway To Tomorrow’ Report today, outlining the firm’s commitment to a framework guided by responsible practices in environmental protection, corporate social responsibility (CSR) and corporate governance.
Built on Tricor’s core values of collaboration, care, agility, integrity and passion, the newly formalized ESG framework outlines goals, reports on the firm’s current progress in ESG and embraces the following long-term principles of Tricor’s vision:
- Maintaining a holistic and strategic – not just financial –approach to resource allocation.
- Integrating ESG principles into decision-making processes, investment analysis and solution offerings.
- Upholding ESG issues as a priority in enhancing relationships with employees, clients, partners and investors.
- Supporting the prioritization and widespread implementation of ESG practices across the professional services industry.
As a testament to its progress in ESG, Tricor recently earned accolades from Hong Kong Business Awards 2020 (Made in Hong Kong Award), Asia Pacific Enterprise Awards 2020 (Corporate Excellence Award) and Greater Bay Area Corporate Sustainability Awards 2020 (Social Sustainability Award – Decent Work & Economic Growth). In total, the firm has been recognized for business excellence with 21 industry awards earned across its global footprint from 2019 through the end of 2020.
In April 2020, Tricor also became the first in Hong Kong to announce a paper repurposing initiative in partnership with Mil Mill, wholly owned by Secure Information Disposal Services Limited (SSID), repurposing its headquarters’ wastepaper into napkins and toilet rolls that Tricor later purchases.
Furthermore, Tricor is a founding member of Shared Value Initiative Hong Kong (SVIHK), a nonprofit membership organization funded by leading corporations to act as a catalyst for Creating Shared Value (CSV) in the Greater Bay Area (GBA). This initiative seeks to align business value with community needs, nurturing powerful and disruptive business models driven by purposeful profits. Tricor will continue to support the CSV initiatives, aligning our business strategies in addressing the needs of the communities we serve.
Forming an ESG work group to provide oversight across the 21 markets the firm operates in, Tricor will be constantly reviewing and improving how it prioritizes ESG issues. With accountability being key to Tricor’s ESG framework, the firm will release an updated ESG report annually to track progress and outline new goals.
Lennard Yong, Tricor Group CEO, said: “At Tricor, we are continuously adapting our ESG strategy to accommodate the widening scope of ESG issues and better respond to the continuously shifting business landscape. To bolster our strategy, we have adopted best practices set out by leading industry bodies and also abide by our own designated framework, holding ourselves accountable for infusing ESG factors into all business touchpoints, processes and relationships. Notably, we have tied our digital transformation strategy to ESG, aiming to not just automate and innovate business processes but also to cut our paper usage, reduce our carbon footprint, enhance data security and promote equitable business practices.”
Judy Wong, Tricor Group Chief Legal Counsel & Chief Compliance Officer, said: “Although our 2020-2021 ESG Report demonstrates that Tricor has made great strides in a short period of time, we know that ESG is not just another box to tick off. Rather, our efforts are a constant work in progress. Therefore, we have set forth a number of goals to guide our ESG journey, including proactively measuring, reporting and improving specific benchmarks. We look forward to regularly sharing our progress in reaching these benchmarks and helping to create better economic and social outcomes for our firm, shareholders, employees, clients and communities.”
Gordon Watson, Non-Executive Chairman of Tricor Group, said: “As Asia’s leading business expansion specialist, Tricor is uniquely positioned to support enterprises as they enter, expand and scale operations across Asia Pacific and beyond. By offering local expertise and developing key partnerships, we can be a force for good and help organizations deploy profitable, purposeful business models that address unmet social and environmental needs in our communities.”
To access the full report, please visit https://www.tricorglobal.com/environmental-social-and-governance-esg.
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About Tricor Group
Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, fund administration, and strategic business advisory. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 client entities globally (including 20,000 client entities in Mainland China), a staff strength of over 2,800 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,800 companies listed in Hong Kong SAR and Mainland China, 600 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira became the controlling shareholder of the Tricor Group, alongside management.
To learn more, please visit: www.tricorglobal.com
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