ICAC renews pledge to promote business ethics amid economic and societal hardships
2020-11-19
With the staunch support of chambers of commerce and professional bodies, the ICAC would continue to help the local business sector live up to the international corporate governance standards and sustain Hong Kong’s competitive edge amid various challenges, said ICAC Commissioner Peh Yun-lu.
Speaking today (November 19) at a livestreaming event to mark the 25th anniversary of the ICAC’s Hong Kong Business Ethics Development Centre (Centre), Mr Peh said 2020 was a year of challenges and uncertainties for local business sector due to economic and societal hardships caused by trade tensions, social unrest as well as the tremendous impact of COVID-19.
“Nevertheless, the resilience demonstrated by many business organisations in reacting to crises and adjusting to changes were remarkable.
“Behind all these attributes, the basic values of business integrity would continue to play a deciding role in sustaining the fair business environment that we all cherish,” he said.
Mr Peh noted that as the global economy remained volatile and uncertain, Hong Kong and the ICAC had no room for complacency.
“The Centre will strive to adapt to the new environment and explore more effective means to enhance the governance of business organisations and the integrity standard of practitioners,” he added.
Today’s event, held at the ICAC Headquarters Building, was also joined by incumbent and former BEDAC members, as well as close partners from trade associations, professional organisations and regulatory bodies.
Also speaking at the event, Mr Cliff Sun Kai-lit, Chairman of the Centre’s advisory body – Hong Kong Business Ethics Development Advisory Committee (BEDAC), remarked that the Centre was a very unique organisation which served as the pioneer of public-private partnership in promoting business and professional ethics in Hong Kong.
“I am proud to see that the seeds of integrity planted by the Centre are well rooted in the business community and have been flourishing,” Mr Sun said.
He revealed that over the past 25 years, more than 10,000 business organisations, ranging from startups to listed companies, had sought assistance from the Centre to enhance their capabilities in resisting corruption and integrity building, while over 1,000,000 business practitioners and professionals had attended anti-corruption and ethics training programmes organised by the Centre.
Mr Sun also noted that the Centre must continue to strive for improvement and breakthrough in ethics promotion work to better meet the needs of different targets, particularly during this time when most businesses had been affected by the economic downturn.
At the event, participants were updated on the Centre’s latest initiatives for the insurance sector – the two-year“Integrity for Success” Ethics Promotion Campaign which was launched last year in collaboration with the Insurance Aurthority (IA). More than 340 insurance companies had adopted its corruption prevention services while over 5,000 insurance intermediaries had completed their integrity training modules.
Dr Moses Cheng Mo-chi, Chairman of the IA, thanked the Centre for its dedication and invaluable support in cultivating an ethical business culture for the insurance sector.
“Honesty and integrity are indispensable attributes for business leaders and professionals, including practitioners in the insurance industry. A high probity standard also sustains the healthy development of the industry in opening up new opportunities,” Dr Cheng said.
The Hong Kong Ethics Development Centre, established since 1995 and later rebranded as the Hong Kong Business Ethics Development Centre in 2015 to better reflect its scope of services, remains committed to promoting business ethics as the first line of defence against corruption with 10 major business chambers as its close supporting partners.
Over the years, the Centre has produced about 2,000 training and reference materials. More than 70 trade and professional bodies, including major ones in the construction, insurance and finance industries and the accountancy and governance sectors, have recognised the Centre’s integrity training as their continuing professional development programmes or incorporated ICAC messages in their professional qualifying examinations.
To mark the Centre’s 25th anniversary, a new logo was also unveiled at today’s reception with a new tagline: “Embrace Ethics, Enjoy Success”, calling upon the business sector to adopt best business practice and ethical values in their corporate management.
Speaking today (November 19) at a livestreaming event to mark the 25th anniversary of the ICAC’s Hong Kong Business Ethics Development Centre (Centre), Mr Peh said 2020 was a year of challenges and uncertainties for local business sector due to economic and societal hardships caused by trade tensions, social unrest as well as the tremendous impact of COVID-19.
“Nevertheless, the resilience demonstrated by many business organisations in reacting to crises and adjusting to changes were remarkable.
“Behind all these attributes, the basic values of business integrity would continue to play a deciding role in sustaining the fair business environment that we all cherish,” he said.
Mr Peh noted that as the global economy remained volatile and uncertain, Hong Kong and the ICAC had no room for complacency.
“The Centre will strive to adapt to the new environment and explore more effective means to enhance the governance of business organisations and the integrity standard of practitioners,” he added.
Today’s event, held at the ICAC Headquarters Building, was also joined by incumbent and former BEDAC members, as well as close partners from trade associations, professional organisations and regulatory bodies.
Also speaking at the event, Mr Cliff Sun Kai-lit, Chairman of the Centre’s advisory body – Hong Kong Business Ethics Development Advisory Committee (BEDAC), remarked that the Centre was a very unique organisation which served as the pioneer of public-private partnership in promoting business and professional ethics in Hong Kong.
“I am proud to see that the seeds of integrity planted by the Centre are well rooted in the business community and have been flourishing,” Mr Sun said.
He revealed that over the past 25 years, more than 10,000 business organisations, ranging from startups to listed companies, had sought assistance from the Centre to enhance their capabilities in resisting corruption and integrity building, while over 1,000,000 business practitioners and professionals had attended anti-corruption and ethics training programmes organised by the Centre.
Mr Sun also noted that the Centre must continue to strive for improvement and breakthrough in ethics promotion work to better meet the needs of different targets, particularly during this time when most businesses had been affected by the economic downturn.
At the event, participants were updated on the Centre’s latest initiatives for the insurance sector – the two-year“Integrity for Success” Ethics Promotion Campaign which was launched last year in collaboration with the Insurance Aurthority (IA). More than 340 insurance companies had adopted its corruption prevention services while over 5,000 insurance intermediaries had completed their integrity training modules.
Dr Moses Cheng Mo-chi, Chairman of the IA, thanked the Centre for its dedication and invaluable support in cultivating an ethical business culture for the insurance sector.
“Honesty and integrity are indispensable attributes for business leaders and professionals, including practitioners in the insurance industry. A high probity standard also sustains the healthy development of the industry in opening up new opportunities,” Dr Cheng said.
The Hong Kong Ethics Development Centre, established since 1995 and later rebranded as the Hong Kong Business Ethics Development Centre in 2015 to better reflect its scope of services, remains committed to promoting business ethics as the first line of defence against corruption with 10 major business chambers as its close supporting partners.
Over the years, the Centre has produced about 2,000 training and reference materials. More than 70 trade and professional bodies, including major ones in the construction, insurance and finance industries and the accountancy and governance sectors, have recognised the Centre’s integrity training as their continuing professional development programmes or incorporated ICAC messages in their professional qualifying examinations.
To mark the Centre’s 25th anniversary, a new logo was also unveiled at today’s reception with a new tagline: “Embrace Ethics, Enjoy Success”, calling upon the business sector to adopt best business practice and ethical values in their corporate management.
