ESG and Sustainability Emphasised in China's Development Ambitions

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by KnowESG

Since sustainable development and ESG are becoming more significant, scholars, businesspeople, artists, and members of the press met on Thursday at a forum to discuss sustainable business and art empowerment.

With the drive toward sustainable and green development, the concept of environmental, social, and governance (ESG) is becoming more well-known.

China's "dual carbon" ambitions—its pledge to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060—are examples of the country's determination to expand international collaboration in the fight against climate change. It has urged all companies and communities to prioritise sustainable development.

"In the face of a global crisis that has hit the economy hard and shaken international relations, a good company has the responsibility to play a leading role in ESG, and society should treat such companies and organisations with the respect they deserve," Zheng Yannong, adviser of the China International Public Relations Association and former secretary general of the Development Research Centre of the State Council and Institute of World Development, said in a video speech at the forum.

Bao Cunkuan, a professor in the Department of Environmental Sciences and Engineering at Fudan University, thinks that ESG in businesses should and can fit in with the green transformation of the national development pattern.

In terms of evaluation, Bao suggests setting up a Chinese ESG paradigm based on the development community of "region-industry-supply chain," as well as a system with indicators for an enterprise's capacity and position in its sector, the gap between the company and the industry leaders, and its progress and improvement, in addition to the current systems like the ISO 14000 family of standards.

Source: Shine

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