- The younger generation of the family businesses are more willing to invest in projects that can help crack down on pollution or have a positive impact on society, according to a survey by PwC
- There is a risk of conflict when family members have different views of what environmental, social and corporate governance (ESG) projects to back
Family businesses in Hong Kong are increasingly keen to invest in projects that have strong environmental, social and corporate governance (ESG). But they must have a proper governance structure of their own in place to manage the risks and avoid conflict between family members, analysts said. The younger generation of the family businesses are more willing to invest in projects that can help crack down on pollution or have a positive impact on society, according to a survey by PwC last week.
Sixty-seven per cent of mainland family business executives have developed sustainability strategies as part of their business decisions, while 39 per cent of Hong Kong family business executives have done so. Both are higher than the global average of 37 per cent.