Special Report – ESG/CSR Spotlight

By
João Paulo Meneses

Macau Business | April 2023 | Special Report | ESG/CSR Spotlight

Raising the bar

ESG (Environmental, Social, and Governance) criteria are fast becoming the bedrock of corporate integrity, reflecting the growing awareness of the importance of sustainability for our planet’s future. As such, it behoves us in Macau to act proactively in response to this evolving paradigm.

During the three-year pandemic period, gaming concessionaires, the city’s main employers, have adopted numerous ESG and CSR (Corporate Social Responsibility) measures. While some wonder if it was the outcome of genuine effort or mostly a response to the then upcoming public tender, the fact of the matter is that the new concession contracts, in effect since January 1, include several CSR-related strings attached.

The next few years will provide an answer to the commitment and effectiveness of this drive, not least because a number of non-gaming projects to be developed by the gaming and operators are framed within the CSR/ESG realm.

This special report discusses these criteria in diverse areas such as gaming and integrated resort operators, finance, start-ups, and steps towards nurturing a greener city.

Co-ordinated by João Paulo Meneses [email protected]

“A “Huge Responsibility”

The government put out a call, and the six gaming concessionaires promptly responded with a range of proposals aimed at advancing their corporate social responsibility initiatives.

“The CSR/ESG dimensions covered in the new concession contracts need to be effectively implemented and achieved”

Professor Jenny Guan from the School of Hospitality Management at the Macao Institute for Tourism Studies is one of the leading advocates for implementing CSR and ESG concepts in Macau. In an interview with Macau Business, she highlighted the challenges of evaluating the performance of gambling concessionaires without standardized criteria.

Gauging ESG performance

Gaming concessionaires have been reporting their ESG and sustainability commitments in recent years. A comparative study unpacks each operator’s performance in 2020

Seizing the opportunity

After Ho Iat Seng’s warning, casino operators doubled down on social responsibility tasks over the three pandemic years, with the public tender just around the corner…

IR footprint

Integrated resorts have been adopting a number of measures, but barriers continue to hinder the implementation of green policies. A study points to obstacles related to policies and regulations, management, resources, costs, and awareness.

“A responsible gaming city”

Experts applaud the Government’s efforts in this area

Paichais, the forgotten

Pathological gamblers are a fringe of society, but studies indicate that they can reach 7 per cent

Are casino staff more exposed?

There is no consensus. Different studies carried out in Macau show different results.

More green spaces

This year marks the 50th anniversary of the Government’s acquisition of Lou Lim Ioc, one of the city’s most famous gardens. Macau still lacks green spaces and public gardens.

Small is beautiful

It is not just governments and large organizations that can lead us towards a sustainable future. Small yet impactful examples can also be inspiring. Let’s meet three of them.

The colour of money…

… is green! Green finance is a new mantra. Also in Macau.