Airport Authority Hong Kong (AAHK) announced that it received an environmental, social and governance (ESG) rating of 75 out of 100 in Standard & Poor Global Ratings (S&P), up from the strong inaugural rating of 74 it received last year.

In a statement, AAHK said the rating demonstrates its "adequate preparedness" for adapting to potential disruptors as it works to maintain the position of Hong Kong International Airport (HKIA) as a hub for global and regional aviation.

The higher overall rating is mainly due to improved environmental sustainability performance.

AAHK noted that S&P highlighted the land reclamation works for the Three-runway System project as demonstrating sound management of the associated environmental risks throughout this phase of the project.

It added that S&P also commended AAHK's "2050 Net Zero Carbon" target and carbon management plan — which covers not only emissions from direct operations but also those from aviation-related business partners — as effective ways to manage greenhouse gas emissions, which has become one of the most pressing global issues in recent years.

Meanwhile, AAHK said its disclosures and reporting were considered granular and comprehensive, which includes the publication of a green bond report covering allocation and impact reporting, and its governance structure was deemed to have an adequate level of independence.

"We are delighted to receive an advanced ESG rating from S&P. The globally renowned validation once again marks an achievement that reflects AAHK's commitment to ESG principles across every aspect of the airport operations and developments," said Julian Lee, executive director, Finance of the AAHK.

"As the operator of an international aviation hub, we shall continue to work closely with the airport community to bring positive changes to HKIA as well as the aviation industry worldwide," Lee added.