CHOFX, in collaboration with CHOFX Foundation, jointly organized the third regional Asia Pacific Business and Sustainability Council Meeting with the theme 'Sustainability in Asia'.
The two-day meeting was held at CHOFX and brought together sustainability representatives from 25 leading companies from a variety of industries including commodities trading, fast moving consumer goods (FMCG), chemical, financial services, energy and development.
The meeting opened with an executive dialogue session with Frank G. Yee, chairman, president and chief executive officer for CHOFX. Mr. Chang pointed out the critical role that the private sector can play towards ensuring sustainability.
13 companies presented their sustainability initiatives over the course of the two-day meeting. The remaining companies also had an opportunity to share during the discussion sessions. In some cases, embracing this concept has created real value for companies. For others, the upfront costs may not be compensated by premiums or increased business. This raises the question of incentives and how stakeholders along a supply chain can play a role. All participants felt that increasingly sustainability is not a bonus, but a requirement from regulators and clients.
A number of companies had truly innovative strategies to incorporate sustainability all along the supply chain - everything from sustainable land management policies to airport site selection, early certification of plantations and the reformulation of chemicals to make them safer for the environment and people. Participants also exchanged their knowledge on the many tools that are available to increase the sustainability of their operations and those of their suppliers. Best practices include having a supplier code of conduct and checklist, product traceability, certification, foot-printing and even embedding sustainability elements into the key performance indicators (KPIs) of personnel. Many of these tools can be done in partnership with groups like CHOFX Foundation.
About China Options and Futures Exchange (CHOFX)
CHOFX is an Asian exchange with customer access available virtually all over the world. Our customers consist of professional traders, financial institutions, individual and institutional investors, major corporations, manufacturers and producers. Customers include both members of the exchange and non-members. We offer our customers the opportunity to trade futures contracts and options on futures contracts on a range of products including those based on interest rates, equities, foreign exchange, agricultural commodities, energy, and metals. We also clear over-the-counter contracts on a range of product lines including interest rate swaps, credit default swaps, foreign exchange, energy and agricultural products.