EDS

FAQ

1. What is the HERA Excellence in Disclosure Scheme (EDS) Companies will undergo assessment by Alaya Consulting based on the HERA rubric, which will determine their eligibility for the Silver, Gold, and Platinum Standards.
2. What is the difference between HERA and HERA Excellence in Disclosure Scheme
   • HERA is an annual award event where companies are recognized for their outstanding ESG disclosure practices. The evaluation of companies and the determination of award winners is conducted by an independent panel of judges.
   • Companies have the opportunity to join the HERA EDS throughout the year, as it operates continuously. This ongoing scheme involves a continuous evaluation process, where companies’ ESG disclosure practices are regularly assessed based on established criteria. The scheme enables companies to receive ongoing feedback, guidance, and recognition, fostering continual improvement and engagement in ESG practices.
3. What are the benefits of getting graded?
   • HERA Excellence Scheme Logo: Companies that achieve a silver grade or above will receive the HERA Excellence Scheme logo. This logo serves as a symbol of their achievement in ESG disclosure and can be used to showcase their commitment to sustainability and transparency.
   • Free Admission to the Annual HERA Event: Graded companies will receive one complimentary ticket to join the annual HERA event. This includes both the application and luncheon, which would otherwise have a value of approximately HKD5,000. Attending the event provides companies with an opportunity to network with other industry leaders, gain insights into best practices, and enhance their visibility within the ESG community.
   • Q&A Interview with ESGN: Graded companies will have the opportunity to participate in a Q&A interview with ESGN. The interview will be distributed by PR Newswire, enhancing the company’s exposure and credibility in the ESG space. The value of this opportunity is estimated at HKD5,000.
   • 20% Discount on GRI Certified Training: Graded companies will receive a 20% discount on the fee for GRI Certified Training. GRI is a widely recognized framework for sustainability reporting, and this training provides companies with valuable knowledge and skills to enhance their ESG reporting practices. The discount amounts to approximately HKD2,000, representing a cost-saving opportunity for companies.
4. What is the application fee of HERA EDS
   • Initial Evaluation: The initial evaluation option requires a fee of HKD900. In return, companies will receive a two-pager report which will include benchmarking with the HERA award-winning companies, providing insights into the company’s ESG disclosure performance in comparison to industry peers.
   • Full Evaluation: Companies can choose to opt for a full evaluation by paying a fee of HKD19,800. This comprehensive evaluation provides a more in-depth assessment of the company’s ESG disclosure practices. The full evaluation will likely involve a more detailed analysis and review of the company’s ESG reporting, including the collection and analysis of relevant data, stakeholder engagement, and alignment with ESG frameworks and standards.
5. Why should companies join HERA Excellence in Disclosure Scheme
   • Recognition from HERA: By participating in the HERA Excellence in Disclosure Scheme, companies have the opportunity to receive recognition from HERA, an industry-recognized ESG Reporting Award Standard. This recognition adds credibility to their ESG disclosure efforts and demonstrates their commitment to transparency and sustainability.
   • Ongoing Evaluation: The scheme operates throughout the year, allowing companies to undergo continuous evaluation of their ESG disclosure practices. This ongoing assessment provides companies with valuable feedback and guidance to improve their ESG reporting over time.
   • Access to HERA Events: Companies that join the scheme gain access to HERA events, including the annual HERA event, through a complimentary ticket. These events offer networking opportunities with industry leaders, sharing of best practices, and the chance to stay up-to-date with the latest trends in ESG reporting.
   • Additional Benefits: Graded companies in the HERA Excellence in Disclosure Scheme receive various additional benefits, such as the HERA Excellence Scheme logo, a Q&A interview with ESGN, and discounts on GRI Certified Training. These benefits further enhance a company’s reputation, visibility, and expertise in ESG disclosure.