Gold Standard: Lenovo Dazzles in ESG Awards

Lenovo Group Limited has received a prestigious Gold Award in the annual Best Corporate Governance and ESG Awards by the Hong Kong Institute of Certified Public Accountants (HKICPA).

These accolades from HKICPA specifically acknowledge listed companies and public sector organisations that have exhibited excellence in both corporate governance and environmental, social, and governance (ESG) practices and reporting. Furthermore, they highlight entities that seamlessly integrate these crucial elements into their core values, strategies, and day-to-day operations.

Lenovo's recognition in this regard marks an impressive eleventh consecutive year of receiving awards from HKICPA, underscoring the company's unwavering dedication to achieving excellence in Corporate Governance and ESG practices and reporting over the long term.

The judges' comprehensive report outlines the factors that contributed to Lenovo's Gold award, encompassing aspects such as its corporate culture, effective segregation of duties between management and the board, robust board structure, proficient risk management, transparent ESG disclosures, establishment of ESG targets, and utilisation of independent ESG verifications.

Notably, the report highlights Lenovo's commitment to aligning its corporate culture with its purpose, values, and strategy. The company's board composition, featuring a high proportion of Independent Non-Executive Directors (INEDs) that surpasses Listing requirements, was particularly commended.

Additionally, Lenovo's noteworthy environmental initiatives were acknowledged, including the announcement of its Science Based Targets initiative (SBTi) validated goal to achieve net-zero greenhouse gas (GHG) emissions by 2050. The specified targets are set against a base year of FY 2018/19, with near-term goals for FY 2029/30 and an ultimate net-zero target for FY 2049/50.

For those seeking additional insights into Lenovo's global sustainability, social impact, and governance practices, detailed information can be found in the latest ESG Report published in June 2023.

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Source: Lenovo