Jockey club (BES Case study).pdf - European Journal of...

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European Journal of Sustainable Development(2016),5, 4, 483-496ISSN: 2239-5938Doi:10.14207/ejsd.2016.v5n4p483|1Centennial College, An Independent College Established by The University of Hong Kong, Hong Kong.The Hong Kong Jockey Club: Driving Sustainabilityand Riding High Together – A Case StudyYihong Yao1, Dongya Li1AbstractIn recent years, sustainability has become a popular topic for both business and society. There islittle dispute that companies and organizations have increasingly paid attention to social andenvironmental issues, and thus sustainability has come under the spotlight. However, The HongKong Jockey Club (“HKJC” or “the Club”), the largest single taxpayer and non-governmentcharitable donor in Hong Kong, has been paying attention to environmental and social issues fordecades although its “sustainability efforts” were not given a label for most of that period. The yearof 2009 was a milestone of the HKJC’s sustainability endeavors as in this year the HKJC formed itsfirst Sustainability Committee, raising sustainability to the strategic level within the Club. The firstsustainability report of HKJC was released in 2011, making the HKJC’s dialogue with thecommunity, also within the Club, transparent. In 2014, the Club introduced Supplier SustainabilityGuidelines, aiming to increase the sustainability standards of the Club’s business partners, and inturn, of all local businesses.This case depicts how HKJC achieved sustainability through its endeavors in the environmental,social, and governance (ESG) areas, thus contributing to the community and enabling a better futurefor its stakeholders and for society as a whole. This case also discusses the evolution of the HKJC’ssustainability governance structure and strategy, the progress of HKJC’s sustainability practices from2009 to 2016, and HKJC’s sustainability challenges.Keywords: Hong Kong Jockey Club, sustainability governance, sustainability practice, sustainability innovation,carbon footprint, supplier sustainability, stakeholder engagement, case study1.IntroductionIn recent years, sustainability has become a popular topic in both business andsociety. Business sustainability is defined as the status of “businesses that can surviveshocks because they are intimately connected to healthy economic, social andenvironmental systems; they create economic value and contribute to healthy ecosystemsand strong communities” (Financial Times Lexicon, 2016). The global economy, theenvironment and political institutions have been experiencing quick structural changes,forcing businesses to change their strategies from one for short-term profitability to theother for long-term sustainability (Werbach, 2009). Companies and organizations haveincreasingly paid attention to social and environmental issues, and thus sustainability isplaced under the spotlight. Environmental issues bring pressures for senior executiveswhen they make decisions and require them to rethink how they could reach a balancebetween business growth and environmental concerns, and even how they couldcapitalize the opportunities and benefits from sustainability practices and innovations

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club, The Hong Kong Jockey Club, Hong Kong Jockey Club

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