MGM China joins Hang Seng Enterprise Sustainability Index
MGM China Holdings Ltd, Hong Kong-listed Macau casino operator, said in a press release on Monday that it had been added to the Hang Seng Corporate Sustainability Benchmark Index “with immediate effect.”
The company said it builds on “outstanding performance in environmental, social and governance (ESG) areas.”
The announcement added, “MGM China is also rated among the top 20%… It achieved ESG performance among the 517 listed companies evaluated at this year’s index valuation event, and was the only Macau-based company to be included as a member of the Hang Seng Enterprise Sustainability Index series for 2023-2024.”
MGM China operates MGM Macau Casino Resort in the city peninsula and MGM Kotai Real Estate in the kotai district of Macau.
Pansy Ho Chiu King, chairman and executive director of MGM China, was quoted as saying in a Monday announcement, “We will work to strengthen sustainability management, guide us in running our business, and work with stakeholders to benefit people and the environment, not only in Macau but also in the Greater Bay Area.”
The latter was a reference to the Hong Kong-Guangdong-Macao Taiwan region, a reference to the Chinese central government’s initiative to more fully connect for economic and social purposes, the Hong Kong and Macao Special Administrative Region and mainland Guangdong Province.
MGM China’s subscribed index is part of the Hang Seng Enterprise Sustainability Index series, which is said to provide an objective and reliable benchmark for sustainability-related investments.
According to MGM China, only the top 20% of securities issuers with the highest sustainability performance scores can be selected as a component of the Hang Seng Corporate Sustainability Benchmark Index. The review for evaluation is conducted annually and only by invitation.
The seven aspects evaluated by the Evaluation Framework are said to include corporate governance, human rights, labor practices, environment, fair operational practices, consumer issues, community engagement and development.