The Bank of East Asia

About BEA

Growing Our Business Responsibly

Growing Our Business Responsibly

Upholding the highest standards of governance

We at BEA are committed to upholding the highest standards of corporate governance and acting in an accountable and transparent manner. We believe such commitment is vital in fulfilling our duty to shareholders and ensuring that the interests of diverse stakeholders are balanced.

Creating a sustainability-conscious organisation from the top-down

                               

Our Board-level ESG Committee oversees the Bank Group’s ESG performance, particularly in regard to strategy and reporting. For more information, please refer to the ESG Committee’s Terms of Reference.

Reporting to the ESG Committee is the ESG Steering Committee (“Steering Committee”). Chaired by Mr. Brian Li, Co-Chief Executive, the Steering Committee comprises General Managers of divisions that play a key role in BEA’s ESG performance. Among its duties, the Steering Committee is responsible for driving ESG strategy development as well as ESG target setting and performance review.

BEA’s ESG Work Group comprises Department Heads selected by the Bank’s General Managers to drive the implementation of strategies set by the Steering Committee, and to identify ESG risks and opportunities.

Further details on the Bank's corporate governance practices and policies are disclosed in the Corporate Governance section of this website and the Corporate Governance Report of the Bank Group’s Annual Report.

A robust approach to risk management

The Group has also established comprehensive risk management procedures in line with the requirements set out by the Hong Kong Monetary Authority (“HKMA”) to identify, measure, monitor, control, and report on the various types of risk that BEA faces, including credit risk, market risk, liquidity risk, and operational risk, and, where appropriate, to allocate capital to cover those risks.

To reduce the impact of our business activities on the environment, BEA has developed a roadmap for green and sustainable banking, which is under implementation, together with a plan to address ESG risks, particularly climate change risk. Climate-related risk factors have been incorporated into ESG risk assessment criteria for BEA’s corporate lending, and we will build on these initiatives to develop our green banking business.

Investing responsibly

BEA has issued a Responsible Investment Statement, evidence of ESG’s evolving influence in the Group’s decision-making processes:

We, at The Bank of East Asia, Limited, understand the importance of sustainability to our society.
As a responsible investor, we are committed to integrating environmental, social and governance factors into our investment decision-making process.
We endeavour to achieve long-term financial returns while supporting the sustainable development of society.

Promoting sustainability in our supply chain

We are committed to working with suppliers that showcase best practice, while encouraging others to develop and demonstrate improvement within these fields. Our suppliers are required to comply with our Supplier Code of Conduct, which is embedded within our procurement process. In addition, our Group Human Rights Policy, applicable to our suppliers, aligns with the United Nations Guiding Principles on Business and Human Rights.  

BEA prohibits slavery and human trafficking in its supply chain. Suppliers must satisfy the Group’s requirements regarding social and ethical standards of conduct as well as conditions of employment including health & safety, wages, working hours, discrimination, harassment, and grievance mechanisms. Our Slavery and Human Trafficking Statement is in line with the UK’s Modern Slavery Act (MSA) 2015.