Companies are increasingly coming to realize that adopting good practices in environmental protection can also make good business sense.

Since the inception of the Hong Kong Eco-business Awards in 1999, more than 500 organizations have participated in the scheme. Speaking at the launching ceremony of the awards on August 5, Secretary for Justice Elsie Leung said protecting the environment is not simply an expensive public relations gimmick. It has become a sustainable way of doing business.

"Companies that make efforts to reduce resource consumption, minimize waste, prevent pollution discharges, and make good use of innovative and green technologies generally find that they can save costs," she said. "They also increase productivity and add value to their products or services in the long run, while preserving the environment for our future generations."

Now in its fifth year, the scheme introduces various sector-specific award categories each year, depending on the social, economical and environmental changes of the community. This year, three distinctive awards have been designed, namely, Green Office Award, Green Property Management Award (Private Housing) and Best Environmental Reporting Award.

During the launching ceremony, more than 80 organizations were awarded the Wastewi$e Logo in recognition of their reduction efforts. These included promotion of waste reduction, collection and recycling of recyclables, and buying or manufacturing of recycled products.