Fosun International Rated as “2023 Forbes China ESG Innovative Enterprise”
(13 December 2023) On 30 November 2023, the 2023 Forbes China ESG Innovative Enterprises Selection Summit and Award Ceremony Dinner was held in Shenzhen. Fosun International was rated as “2023 Forbes China ESG Innovative Enterprise” for its excellent performance in corporate growth, ESG practices, execution capability for innovation and industry influence.
The rated companies are all pioneers in the ESG field, coming from a wide range of industries such as finance, energy and environmental protection, industrial manufacturing, real estate and corporate technology. To showcase the differentiated strengths of these forerunners in the area of ESG innovation and their outstanding contributions to the ways of coping with regional and global challenges, Forbes China launched the “2023 Forbes China ESG Innovative Enterprise Selection” in recognition of the selected companies for their achievements and contributions to the field of ESG. The selection encourages more companies to focus on ESG issues, explore and implement innovative solutions for ESG.
In addition to Fosun International, other companies selected as the “2023 Forbes China ESG Innovative Enterprises” included such large, well-known enterprises as Baidu, Inc., JD.com, Inc., Lenovo Group, Ant Group, Siemens Ltd., China, New World China Land, Cainiao, China Overseas Land & Investment Ltd., Ping An Insurance (Group) Company of China, Ltd., China Life Insurance Group and Bank of China.
Mr. Graham Earnshaw, CSO of Forbes China Group, Dr. Danielle Kwan, Director General and CEO of Forbes China ESG Innovative Enterprises Organizing Committee and Prof. Andrew Chi-fai Chan, SBS, JP, President of the Greater Bay Area Business School, presented the trophy to Ms. Angel Sze, Global Partner of Fosun, Company Secretary of Fosun International and Head of ESG Management Committee.
Fosun International Creates a Mutually Beneficial Situation for Environment and Society through its Innovative ESG Practices
Forbes China pointed out that as the concept of sustainable development has gained traction in the international capital markets, ESG performance has drawn much attention from such stakeholders as governments, regulators, company management, investors and the public. Planning for ESG practices and improving it, exploring diverse ways of implementing ESG measures, and coming up with an innovative way with own characteristics are not only responses to the current situation but also are critical to the success of corporate strategies. Many companies, including Fosun International, are actively solving industry-specific problems through innovative ESG practices in order to create a mutually beneficial situation for the environment and society.
As a globalized company rooted in China, Fosun takes initiatives to create business value and gives high priorities to corporate social responsibility and incorporates social responsibility into its sustainable development strategy. In order to further fulfill its corporate social responsibility, Fosun Foundation was established in 2012 and Fosun continues to advance in the fields of global emergency relief, rural revitalization, health, education, culture and art, and caring for children and adolescents, demonstrating its commitment to public welfare.
Facing the increasingly severe challenges of global climate change, Fosun issued the ESG Report not only in accordance with the Environmental, Social and Governance Reporting Guide in Appendix 27 to the Listing Rules of Hong Kong Stock Exchange, but also prepared the ESG Report with reference to the Global Reporting Initiative (GRI) Sustainability Reporting Standards (GRI Standards). Fosun also disclosed its climate-related financial risks voluntarily and issued its first Task Force on Climate-Related Financial Disclosures (“TCFD”) report based on the TCFD recommendations this year to support and implement the TCFD recommendations, taking an important step to strengthen Fosun’s climate resilience, demonstrating its commitment of climate action to international community, and call on all sectors to work together to promote carbon neutrality.
In recent years, Fosun has achieved remarkable ESG performance. Fosun International received an MSCI ESG rating of AA and was the only conglomerate in Greater China with such rating. It was selected as a constituent of the MSCI CHINA ESG LEADERS 10-40 Index again. Its S&P CSA ESG score outperformed 91% of its global peers. Fosun International was included in S&P Global’s Sustainability Yearbook 2023 (China Edition) and recognized as an “Industry Mover” by S&P Global. Fosun International’s HSI ESG rating was upgraded to AA- and was selected as a constituent stock of the Hang Seng Corporate Sustainability Index for the first time. Fosun International’s FTSE Russell ESG score was upgraded from 3.0 to 3.8, consistently higher than the global industry average, and it has been continuously selected as a constituent of the FTSE4Good Index Series.
Looking ahead, Fosun will continue to actively take on greater social responsibility, implement the concept of ESG, create value and give back to society. With the global trend of promoting carbon emissions reduction, carbon neutrality and the sustainable development of the Earth, Fosun will continue to actively cooperate with its member companies to promote the implementation of ESG strategies, especially in the areas of carbon emissions peak, carbon neutrality, energy conservation and energy consumption reduction, and realize the sustainable development of the Group.