Foster connectivity that enables our communities to thrive.
NWS Holdings Limited, as the diversified industries flagship of New World Development Company Limited, invests and operates diverse businesses segments predominantly in Hong Kong and the Mainland China. Its core includes toll roads, construction and insurance, while also manages a strategic portfolio spanning sectors from logistics to facilities management.
To deliver operational excellence in a sustainable manner and to create shared value (CSV) for employees, customers, business partners, the environment and society, NWS updated the vision, mission, and core values in 2022 to keep pace with the industry development, market trends and clients’ expectations. Together with their parent company, New World Development Company Limited, NWS was the first in their industry in Hong Kong to incorporate the philosophy of CSV into the company’s business ethos and mission. They quantify shared values created through environmental, economic and social (ESG) integration. Sustainability has been integrated into their new corporate vision “Fostering connectivity that enables our communities to thrive” and fully in line with its new mission that innovate and create the essential building blocks that allow people and businesses to thrive in an evolving world.
NWS is also in full support of their parent company in striving towards the New World Sustainability Vision 2030, which references the United Nations Sustainable Development Goals (SDGs) and establishes four priority pillars, namely Green, Wellness, Caring and Smart. NWS integrate these two frameworks to set its ambitious Sustainability Targets 2030 to report on the environmental and social issues material that are most relevant to the Group and that enable them to have greater impact which are overseen by its strong sustainability governance.
To oversee their sustainable development, NWS have dedicated committees and management systems and a well-established framework of policies in place. These ensure they uphold their values of integrity, equity and transparency. The Board and senior executives of NWS are fully responsible for our sustainability strategy and progress with full accountability. As NWS continue to develop and evolve sustainability governance structure, they conduct regular internal reviews, external consultation to ensure their business units are effectively implementing initiatives. They also conduct staff training, communications and stakeholder engagement with adoption of innovative approaches to ensure their approach to sustainability is well communicated.
Prioritising Climate Resilience
In full support of the Hong Kong and Mainland China Governments’ carbon neutrality plan by 2050 and 2060 respectively, as well as remain steadfast towards low-carbon economy and build a climate-resilient business, NWS has set out holistic climate resilience strategies and roadmap at the group and various business units. Apart from target setting and becoming one of the signatories of the Carbon Neutrality Partnership, initiated by the government of the HKSAR. NWS has accumulated HK$4.49 billion sustainable financing as of June 2022 to support business’ low carbon transformation. In June 2022, the MSCI ESG Rating of NWS has been upgraded to “A” from “BBB”, in recognition of their persistent efforts to enhance ESG practices.
This year, NWS improves its climate-related disclosures with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) to identifying climate-related risks and devising respective measures across its diverse business segments. Apart from Incorporated climate-related transition risks of all major business units into Enterprise risk assessment for regular review, NWS also pioneered climate-related physical risks assessments for 2 toll roads in Mainland China as per IPCC’s latest predictions. Their innovation in green technology is also applied throughout their business units. Their team also transformed the innovative concept across its diverse business units. The Hangzhou West Lake Service Area is targeted to be the first service area to achieve LEED Platinum Rating by its features such as rooftop mounted solar panels, over 50 charging points for electric vehicles. Material management APPs is self-developed by its construction business – Hip Hing Group to facilitate the exchange of over 500 tonnes surplus Construction and Demolition (“C&D”) materials across its construction sites and promote circularity in 2022. State-of-the-art Kitchen DCV system is also installed at the Hong Kong Convention and Exhibition Centre for continuous environmental improvement. Going forward, NWS will continue to further expand our ESG considerations in its investment decisions and supply chain management to create long-term value for our stakeholders.
Caring for our Society and our People
As one of the key themes of our sustainability pillars is fostering an inclusive community, NWS partner with social enterprises and non-governmental organizations (NGOs) to help a wide range of community members. The community investment strategy clearly states three focus areas – empower the next generations, foster a volunteer culture, and promote environmental sustainability. The core of community engagement and investment work is spearheaded by the NWS Holdings Charities Foundation and the NWS Volunteer Alliance. As celebrated the 20th Anniversary of NWS Volunteer Alliance, NWS is proud to collaborate with over 100 partners and have served the community for over 118,900 beneficiaries and 227,000 hours of service. NWS also continue to expand its flagship NWS “EXP” Journey to fully realize the potential of the youth, the pillars of the future generation.
The fifth wave of COVID-19 in 2022 devastated Hong Kong, causing severe impact on society. Building upon its business diverse expertise, NWS leveraged its network to support members of the community, such as the provision of supplies, voluntary services and financial support to frontline workers and elderly people, including complimentary insurance coverage for 800 designated drivers by FTLife Insurance, providing storage area for anti-pandemic items at HKCEC, as well as the remarkable construction of over 850 quarantine units at Penny’s Bay in under 90 days to support the Hong Kong Government’s anti-pandemic measures by Hip Hing Group.
Cultivating an agile work culture and fostering a sense of belonging to its colleagues is critical to the Group’s success, NWS is conscious about the wellbeing of its employees and together with parent company to launch a flexible work arrangement programme, catering to the needs of its colleagues, including 4.5-day work week during the summer time plus one work-from-home (WFH) day arrangement every week for office-based employees, enabling better bonding with families and beloved ones while maintaining a healthy work-life balance. NWS strive to foster diversity and inclusivity in the workplace so that our employees are treated with dignity and respect, free from any discrimination, bullying, physical and psychological harassment. As a signatory of the Racial Diversity and Inclusion Charter for Employers, NWS is committed to maintaining an equitable and supportive work environment by promoting diversity among the Group through education, training and engagement, such as hosting webinar training on “Cultural Diversity” and “Gender Equity in the Workplace”.
“As an infrastructure and service management conglomerate, NWS Holdings Limited is aware of the impact their operations can have on the environment and communities, and thus strive to contribute to the sustainable development of their business and society, going above and beyond compliance with laws and regulations.”
Shanggari Balakrishnan, Chief Executive Officer, MORS Group