Hang Seng Bank

Red Line	Text of policies	Comments	Score
Regulatory requirements
Ensure Legality	Environmental Policy Hang Seng's Environmental policy was formulated with reference to the statement by financial istitutions on the environmental and sustainable development, which forms part of the United Nations Environment Programme. Hang Seng seeks to (...) meet all relevant environmental, health and sefety laws and regulations CSR Report 2018 Being a principal member of the HSBC Group, Hang Seng operates under a number of international commitments to which the HSBC Group is a signatory or for which the group has expressed public support. These include: • The Equator Principles • The Global Sullivan Principles • The International Bill of Human Rights • International Labour Organization’s Declaration on Fundamental Principles and Rights at Work • The OECD Guidelines for Multinational Enterprises • The UN Global Compact • The UN Guiding Principles’ Protect, Respect and Remedy Framework • The UN Principles for Responsible Investment • The UN Principles for Sustainable Insurance • The UN Sustainable Development Goals	All projects should comply with national laws and key international conventions.	well
No Corruption and Tax Evasion	CSR Report 2018 We manage tax risk based on a formal tax risk management framework. We are committed to complying with the spirit and the letter of tax law, and aim to maintain an open and transparent relationship with the tax authorities. We adopted initiatives that aim to increase transparency, including the US Foreign Account Tax Compliance Act (FATCA) and the OECD Standard for Automatic Exchange of Financial Account Information (the ‘Common Reporting Standard’) . We do not employ tax avoidance structures or strategies, e.g. artifcially diverting profts to low tax jurisdictions. We principally operate and pay taxes in Hong Kong. The relevant fnancial information is disclosed in our Annual Report. To identify bribery or corruption risks, customer accounts are subject to the standard Know Your Customer, Customer Due Diligence, and Transaction Monitoring procedures. All recordkeeping is governed by the HSBC Group’s record management policies. We take a zero-tolerance approach towards bribery and corruption.	Hang Seng activiley screens its clients on corrupation.	well
Ensure ESIA for mills and plantations	Environmental policy - It incorporates environmental risk assessment into credit decisions to ensure responisble finanance. Customers are expected to fulfill the appropriate compliance oblications applicable to their business.	The policy states it incorporates ESIA's into its decisions, but is not clear on when these are required, neither does it requires these to be public.	partly
Social requirements
Ensure FPIC	CSR Report 2018 Robust ‘Know Your Customer’ and assessment processes are designed to minimise our risk of establishing relationships with individuals and organisations engaged in activities such as money laundering, terrorism and irresponsible environmental practices, or becoming involved in operations that may involve forced or child labour, or that violate indigenous or other human rights.	No publicly available policies or documentation were found that cover this criteria.	not
Respect Human Rights	CSR Report 2018 Robust ‘Know Your Customer’ and assessment processes are designed to minimise our risk of establishing relationships with individuals and organisations engaged in activities such as money laundering, terrorism and irresponsible environmental practices, or becoming involved in operations that may involve forced or child labour, or that violate indigenous or other human rights. We adopted the HSBC Statement on Human Rights , which follows the UN Guiding Principle’s Protect.	HSBC will uphold key conventions on human rights, but it does not require clients to demonstrate they do so too.	partly
Respect Indigenous rights and customary land use rights	CSR Report 2018 Robust ‘Know Your Customer’ and assessment processes are designed to minimise our risk of establishing relationships with individuals and organisations engaged in activities such as money laundering, terrorism and irresponsible environmental practices, or becoming involved in operations that may involve forced or child labour, or that violate indigenous or other human rights.	No publicly available policies or documentation were found that cover this criteria.	not
No forced resettlement	CSR Report 2018 Robust ‘Know Your Customer’ and assessment processes are designed to minimise our risk of establishing relationships with individuals and organisations engaged in activities such as money laundering, terrorism and irresponsible environmental practices, or becoming involved in operations that may involve forced or child labour, or that violate indigenous or other human rights.	No publicly available policies or documentation were found that cover this criteria.	not
Environmental Requirements
No forest degradation and deforestation	Environment page We have adopted the Equator Principles, and have specific guidelines on lending to businesses operating in environmentally sensitive sectors such as chemicals, energy, forestry, freshwater, mining and metals, agricultural commodities, and World Heritage Sites and Ramsar wetlands. CSR Report 2018 We are concerned about deforestation, which impacts on the habitat of millions of species. We require customers in the forestry sector to obtain 100% international certifcations (FSC/PEFC certifed) for their activities in high-risk countries.	PEFC does not provide any guarantees of protection of vulnerable areas. No publicly available policies or documentation were found that cover this criteria.	not
Protect endangered species		No publicly available policies or documentation were found that cover this criteria.	not
No high-risk species		No publicly available policies or documentation were found that cover this criteria.	not
No fire		No publicly available policies or documentation were found that cover this criteria.	not
Protect peat		No publicly available policies or documentation were found that cover this criteria.	not
No persistent pollution	Environmental Policy - Hang Seng seeks to (...) minimise the use of chlorofluorcarbons (CFCs)	The policy only mentions the intent to reduce CFCs but does not provide any criteria for clients.	not
Corporate association / scope of the policy
Corporate association / scope of the policy		No publicly available policies or documentation were found that cover this criteria.	not

Latest News

Get Involved