Fosun International Receives Four Awards from Corporate Governance Asia
Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International win Asia’s Best CEO from Corporate Governance Asia
Fosun International also receives Asia’s Best CSR and Best Corporate Communications Awards
On the evening of 26 June 2023, the magazine Corporate Governance Asia held the 13th Asian Excellence Award ceremony in Hong Kong. Chen Qiyu and Xu Xiaoliang, Executive Directors and Co-CEOs of Fosun International Limited (“Fosun International” or “Fosun” or the “Group”) (HKEX stock code: 00656) were both honoured Asia’s Best CEO. In addition, Fosun International was awarded Asia’s Best CSR and Best Corporate Communications awards.
The award recognizes outstanding companies that actively promote global sustainable development
Corporate Governance Asia is one of the most authoritative corporate governance journals in the Asia-Pacific region. It presents the Asian Excellence Award to recognize companies that excelled in financial performance, corporate governance, corporate social responsibility, environmental protection, corporate communication and investor relations. This year marks the 20th anniversary of the establishment of Corporate Governance Asia. With the theme of “Asia: Leading the Way”, the 13th Asian Excellence Award recognizes outstanding industry leaders that have spared no effort to promote global sustainable development while actively promoting economic development in the Asia-Pacific region and the world, especially companies that attach great importance to the impact of corporate development on the environment and society, and strive to create long-term value for stakeholders.
Corporate Governance Asia pointed out that, after over 30 years of development, Fosun has grown into a global innovation-driven consumer group with a focus on Health, Happiness, Wealth and other business segments in more than 35 countries and regions. As the CEOs of a global large-scale private enterprise, while leading the Group to grow business operations, Mr. Chen Qiyu and Mr. Xu Xiaoliang have been strengthening the management of sustainable development, promoting the Group to take the initiative to undertake corporate social responsibility, improving the Group’s environmental, social and governance (ESG) performance, and leveraging resources and advantages of Fosun’s global industrial ecosystem to continuously create a better world.
Chen Qiyu, Executive Director and Co-CEO of Fosun International, said, “We are very honoured to receive several awards from Corporate Governance Asia, including Asia’s Best CEO and Asia’s Best CSR. The awards belong not only to individuals but also to the entire Fosun team, which are recognition of the work of the Group. In order to promote the sustainable development of Fosun, the Group has established a top-down, long-term ESG improvement mechanism aimed at further enhancing the ESG performance of the Group and its subsidiaries. Fosun considers ESG management performance as one of the evaluation factors in the performance and remuneration assessment process of executive directors, continues to benchmark itself with various international companies with good ESG practices, and communicates timely and transparently with rating agencies. In the future, Fosun will maintain its strategic focus, leveraging Fosun’s advantages to drive better development of the Group. Fosun will also continue to promote technology innovation, implement ‘carbon peaking and carbon neutrality’ goals, take part in public welfare undertakings, keepcultivating in the ESG field, and join hands with customers, partners, investors, and all parties in the society to create a happiness ecosystem, share the value of Fosun, and endeavour to extend human’s life expectancy to 121 years.”
Xu Xiaoliang, Executive Director and Co-CEO of Fosun International, said, “As a global company rooted in China, Fosun started early in its work on ESG, which is related to the Group’s genes and culture. From the beginning of its foundation, Fosun has clearly defined its original aspiration of ‘Contribution to Society’, aiming not only to create commercial value but also more social value, with a view to pursuing business for good. As a global enterprise, Fosun attaches great importance to evaluating its own development against global standards, among which ESG is an important criterion. Fosun joined the United Nations Global Compact and the China ESG Leaders Association long ago, actively promoting the development of ESG throughout the Group. In the future, Fosun will further solidify its global operation capability, deeply develop the oriental lifestyle aesthetics, so as to create more healthy, happy and wealthy products for global families. Fosun will continue to focus on issues such as carbon neutrality, biodiversity, energy conservation, and emission reduction, assuming its responsibilities as a global enterprise using its global influence.”
Fosun’s remarkable ESG performance has been widely recognized by the international market
In 2022, Fosun achieved remarkable ESG performance. It received an AA MSCI ESG rating and was the only conglomerate in Greater China with such rating, and was consecutively selected as a constituent of the MSCI CHINA ESG LEADERS 10-40 Index; it received a rating of A in the Hang Seng Sustainability Index and has been selected as a constituent stock of the Hang Seng ESG 50 Index for two consecutive years and a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for three consecutive years; it was selected as a constituent of the FTSE4Good Index Series for the first time. Its S&P CSA ESG score rose significantly and outperformed 91% of its global peers.
Contribute to carbon peaking and carbon neutrality, be a responsible citizen of the Earth
In 2022, Fosun ushered in the “second year” of its “Carbon Neutrality Goal” following its commitment to society – “strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050”. Fosun has formulated effective strategies for climate change mitigation and adaptation to align with the 1.5°C temperature control target set in the Paris Agreement. In order to further push forward the “carbon peaking and carbon neutrality” goals of Fosun, the Group has established a Carbon Neutrality Committee and a Carbon Neutrality Working Group to actively promote further implementation and enforcement of carbon-neutral management across the Group. In April 2023, Fosun issued its first Task Force on Climate-Related Financial Disclosures (TCFD) Report, demonstrating its commitment to climate action to the international community and calling on all sectors to promote carbon neutrality.
Fosun develops business for good, actively disseminates good ESG stories and promotes global sustainable development.
According to Corporate Governance Asia, with years of continuous cultivation in sustainable development, long-term responsible operations, effective management, and a steadfast commitment to the original aspiration of “Contribution to Society”, while achieving rapid development, Fosun leveraged its own industrial advantages to continuously advance in the fields of global emergency relief, supporting the fight against malaria in Africa, rural revitalization, health, education, culture and art, and caring for children and adolescents to fulfil its commitment to public welfare. The Asia’s Best CSR and Best Corporate Communications accolades presented by Corporate Governance Asia are to commend Fosun’s commitment to social responsibility and recognize Fosun’s persistence and effort through active promotion and dissemination of good ESG stories.
About the Asian Excellence Award
The Asian Excellence Award is organized by one of the most authoritative corporate governance journals in Asia, Corporate Governance Asia. It is designed to recognize companies in the Asia-Pacific region that have excelled in corporate governance and corporate leaders who have made outstanding achievements in the field of corporate governance. The organizer inspected thousands of companies in the Asia-Pacific region through quantitative evaluation and interviews with investors to comprehensively measure the companies’ strengths. The award recognizes companies with comprehensive outstanding performance in financial performance, corporate governance, corporate social responsibility, environmental protection, corporate communication and investor relations in the past year. The award-winning companies of this year’s 13th Asian Excellence Award include Bank of China (Hong Kong), China Mobile, China Telecom, China Unicom, China Communications Services, PetroChina, Shui On Land, Sino Land, New World Development, Sun Hung Kai Properties and other well-known companies in the Asia-Pacific region.
Fosun was founded in 1992. After more than 30 years of development, Fosun has become a global innovation-driven consumer group. Adhering to the mission of creating happier lives for families worldwide, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth. In 2007, Fosun International Limited was listed on the main board of the Hong Kong Stock Exchange (stock code: 00656.HK). As of 31 December 2022, Fosun International’s total assets amounted to RMB823.1 billion; it received an AA MSCI ESG Rating and was the only conglomerate in Greater China with such AA rating.