Doing Business for a Better Future

ELEVATE expands business in Hong Kong as ESG gains traction worldwide.

In today’s competitive environment, company success no longer means simply yielding financial results. It has increasingly become crucial for companies to also prove their social and corporate sustainability efforts. More and more companies around the world are adopting environment social governance (ESG) to demonstrate their commitment to sustainability and a better future.

Responsibility for Global Suppliers

Headquartered in Hong Kong, ELEVATE’s core business focuses on ESG in global supply chains. Ian Spaulding, CEO, spent his entire career assessing businesses, including ESG for world-renowned brands, such as Amazon, Apple and Starbucks. “It is not just policing — we evaluate and improve companies,” Spaulding said, adding, “Our niche is ESG and the world seems to be waking up to the importance of this work.”

ELEVATE’s services reach far beyond factory and farm audits. ELEVATE helped develop a five-year programme for 850 factories in Bangladesh following the 2013 Rana Plaza building collapse that took the lives of more than 1,100 people. “We are on the ground floor of events to help reform business practices,” Spaulding said.

COVID-19 Impact on Supply Chains

The COVID-19 pandemic greatly impacted supply chains worldwide with port closures and delays in shipping. Companies adjusting to the new normal had to face the increasing vulnerability for business and compliance risks in their supply chain. ESG became an even greater endeavour and heightened the importance of ELEVATE’s services. “The pandemic exposed the fragility of our planet,” noted Spaulding. “While companies still have to achieve business targets, they also want to make ESG investments and look to us for help.”

ELEVATE in Hong Kong

Spaulding saw Hong Kong as a distinguished setting to headquarter his business for its accessibility to many regional factories that ELEVATE works with. “Footwear, furniture, toys, electronics — many of these are manufactured in Mainland China or Southeast Asia,” he said. “Hong Kong’s strategic location offers unique advantage for companies to set up their sourcing team here with easy access to different manufacturing plants in the region.”

The CEO sees the Guangdong-Hong Kong-Macao Greater Bay Area as a geographical opportunity for Hong Kong companies to grow. “Guangdong province is a good customer base for us and could be huge given the sheer ambitions of the companies and the people here. Hong Kong’s rule of law makes it simple to drive trade. Coupled with hardworking, multilingual talent available to operate global businesses, what the city can offer is very attractive,” Spaulding said.

“The story of Hong Kong is the story of my company. I love Hong Kong. It’s a wonderful place to build and grow a business,” Spaulding said.