Airport Authority’s Capabilities Recognised in Inaugural ESG Rating
Airport Authority’s Capabilities Recognised in Inaugural ESG Rating by S&P
Airport Authority Hong Kong (AAHK) today received an inaugural rating of 74 out of 100 for its environmental, social and governance (ESG) performance from Standard & Poor Global Ratings (S&P), reflecting what S&P describes as AAHK’s “good capabilities to address its moderate yet growing environmental and social exposure, and focus on maintaining its capacity to navigate potential disruptions”. Hong Kong International Airport (HKIA), operated and managed by AAHK, is the first airport with its ESG rating publicised by S&P globally.
The rating recognises AAHK’s comprehensive sustainability strategy for tackling environmental issues such as carbon emissions, land use and biodiversity. AAHK’s advanced decarbonisation strategy was highlighted as the roadmap guiding AAHK towards its target of achieving net zero emissions by 2050 and promoting carbon reduction across the wider airport community.
AAHK attained strong scores across the social aspects of its operations, including safety management, community investment, and customer engagement. AAHK’s robust governance, disclosure and reporting represented global best practices, with its governance structure recognised for its high level of independence.
S&P commended that AAHK is adequately prepared to remain resilient in the future against potential disruptors such as climate change, technology and innovation, growth in passenger and cargo volumes, among others. This is demonstrated by AAHK’s excellent capacity to devise comprehensive action plans and take swift decisions, as well as the commitment to embed sustainability and innovation into its culture and operations.
Fred Lam, Chief Executive Officer of AAHK, said, “AAHK’s high inaugural ESG rating underlines our commitment to placing sustainability at the centre of our long-term development. It also demonstrates that our sustainability strategy meets and exceeds global standards. As HKIA transforms from a city airport into an Airport City, we will continue to maintain strong practices and work closely with our business partners to strengthen the airport’s position as an international aviation hub.”
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