For those in the world of Corporate Social Responsibility (CSR) and Environmental and Social Governance reporting (ESG), an interesting dynamic is at play in Hong Kong, with a large multinational brand being drawn into the domestic “dirty” laundry of its licensee. The question is whether that local partner, and flagbearer of that brand, is able to find solutions which will not pull the value of the international brand down with its own domestic reputation.
In short, Maxim’s — the licensee of Starbucks in Hong Kong, Macau, Singapore and Vietnam, with over 180 stores — is also the largest restaurant chain in Hong Kong, and it continues to serve shark fin. This is akin to having a menu option for elephant or rhino.
Read the full article here.