HONG KONG, June 6, 2024 - (ACN Newswire) - The Hong Kong Institute of Directors (“HKIoD”) announced yesterday that nomination has opened for the 2024 Award Series for Director Excellence (the “Awards”), consisting of the long-established Directors of the Year Awards (“DYA) and the first Climate Governance Awards (“CGA”).

The new series of Climate Governance Awards, launched on the United Nations World Environment Day on 5 June, aims to recognise and inspire exemplary achievements in climate governance, advocating climate action by directors to help build a sustainable future. The judging format of CGA is similar to that of the DYA.

The Awards project this year, themed “Leading with Agility in an Era of Innovation”, echoes with today’s rapidly evolving business landscape that presents both challenges and opportunities. The global economy has remained sluggish, with tough financial conditions and prevailing geopolitical tensions dampening economic prospects. Directors in Hong Kong are facing particularly daunting challenges in the demanding economic environment. On top of business performance, another test of organisational agility is in climate action. Directors must guide their companies in identifying the risks and opportunities that climate change brings, which are vital to ensuring the sustainability of the world and mankind.

Dr Christopher To, Chairman of HKIoD, said, “In the face of unpredictable circumstances, we must be prepared to learn, evolve, and change quickly in order to build a prosperous future. Adaptability, vision, and integrity are also essential leadership traits. Directors need the agility to pivot strategies as the landscape shifts, the foresight to anticipate and prepare for future challenges, and the principled decision-making to uphold good governance even in turbulent times. By hosting these award series, HKIoD aims to recognise outstanding boards and directors, as well as promote good practices in corporate governance.”

Director Of The Year Awards & Climate Governance Awards

Nomination for these two Awards will close on 31 July 2024. The Panel of Judges consists of leaders, professionals and regulators in Hong Kong. Both awards recognise excellence in the following categories:

Notes: *A non-profit-distributing organisation is defined as an organisation of which profits are not distributed to its shareholders, members, directors, employees or any other persons, with objectives including, but not limited to, charitable welfare, social service, health and medical care, education, research, trade and industrial alliance, professional advancement, self-help support etc.

The Awards nomination form and related information are available on The Hong Kong Institute of Directors website at www.hkiod.com.

About “HKIoD Award Series for Director Excellence”

The HKIoD Award Series for Director Excellence is a project organised by The Hong Kong Institute of Directors (“HKIoD”) and consists of two series of Awards.

The first series, Directors Of The Year Awards, was inaugurated in 2001 as the first ever such Awards organised in Asia.  As directors are ultimately responsible for corporate governance and leading the company in prosperity and integrity, the objectives of the Awards are to recognise outstanding boards and directors and to promote good practices in corporate governance and director professionalism.  The Awards have become an annual project of impact in the community organised by HKIoD together with over 100 Project Partners.  To date, 242 Awardees have been recognised for their achievements in demonstrating exemplary high standards in corporate governance and director practice.

Inaugurated in 2024, Climate Governance Awards constitute the second series of HKIoD Awards with the objectives to recognise and inspire exemplary achievements in climate governance and to advocate climate action by directors.  It is critical time now for directors to address the risks and opportunities of climate change in board agendas and their governance role.

Candidates are open to public nomination, with data processed in well-defined and stringent procedures, followed by interviews with independent consultants in utmost due diligence and finally selected by independent judges with high standards and fair judgment.  Awards are presented by company categories, viz Listed Companies, Non-listed Companies and Statutory/Non-profit-distributing Organisations, and by capacities, viz Executive Directors, Non-Executive Directors and Boards.

About The Hong Kong Institute of Directors (“HKIoD”)

The Hong Kong Institute of Directors (“HKIoD”) is Hong Kong’s premier body representing directors working together to advance corporate sustainability in creating long-term value for companies, their owners, stakeholders, humankind and Planet Earth through advocacy and standards-setting in corporate governance and director professionalism. 

Led by Founder Chairman Dr The Hon Moses Cheng, HKIoD was founded in 1997.  Throughout the years, HKIoD is honoured to have the Chief Executive of HKSAR as the Institute’s Patron.  Membership of HKIoD comprises of directors from diverse industries and corporate types and includes Executive Directors, Non-Executive Directors and Independent Non-Executive Directors.  With multi-culturalism and international perspectives, HKIoD organises activities that cover director training, seminars and forums, collective director voice, guideline establishment, public education, Award Series for Director Excellence, assessment of Corporate Governance Scorecard for listed companies etc.  

As a member body of the Global Network of Director Institutes (“GNDI”), HKIoD is committed to global collaboration in promoting good corporate governance and director professionalism.  HKIoD is the appointed Host of the Hong Kong Chapter of Climate Governance Initiative, a global network that collaborates with the World Economic Forum in actively promoting directors’ address of the risks and opportunities of climate change.

For details please visit: http://www.hkiod.com | http://www.gndi.org | https://climate-governance.org/

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