Fosun International Receives “ESG Engagement and Disclosure Award” from BritCham Shanghai
On the evening of 26 October 2023, the British Chamber of Commerce Shanghai (BritCham Shanghai) held the 2nd ESG China Awards. After the initial screening by the 10 independent judging panels and online interviews, then combined with a comprehensive assessment by the Awards’ advisory panel, Fosun International was shortlisted for the “ESG Engagement and Disclosure Award” and “Employee Engagement ESG Campaign Award”. Fosun International won the “ESG Engagement and Disclosure Award” among five shortlisted finalists in recognition of its efforts in environmental protection, social responsibility, corporate governance and other aspects and its excellent information disclosure.
The 2nd ESG China Awards was organized by BritCham Shanghai, in partnership with AmCham Shanghai, AustCham Shanghai and CanCham Shanghai. The ESG China Awards is an awards program recognizing and promoting excellence from businesses, organizations and individuals that have made a positive ESG impact in China.
ESG China Awards Chair, Board Member of Global Reporting Initiative, Dr. Jianzhong Lu said, “This year has witnessed an extraordinary surge in participation. Compared to the previous year, there has been a substantial increase in the number of applications, with a total of 150 applications across the 10 award categories. Applicants come from 23 different cities and regions across China, representing a wide range of industries. Notably, half of the applicants are foreign companies deeply rooted in China, while the other half are forward-thinking domestic enterprises. Such a wide range of participation reaffirms our shared belief in ESG and sustainability, and our sense of engagement and mission.”
BritCham Shanghai pointed out that Fosun International is a deserving winner of the 2nd ESG China Awards and the “ESG Engagement and Disclosure Award”. Fosun actively engages stakeholders to gauge their perspectives on ESG matters, gathering valuable insights to enhance its sustainable practices. This open dialogue builds trust and allows the Company to refine and optimize its ESG strategies based on their feedback. Fosun fosters these communications through various channels, including industry forums, customer interactions, supplier engagements, non-governmental organization (NGO) collaborations, media outreach, investor relations, employee initiatives, and more.
Fosun also meticulously identifies crucial disclosure areas, aligning with prevailing ESG trends, United Nations (UN) Sustainable Development Goals (SDGs), and established reporting standards. BritCham Shanghai said Fosun’s ESG report adheres to principles of materiality, quantifiability, consistency, and balance, presenting key performance indicators across environmental and social dimensions. Additionally, Fosun’s board of directors and dedicated committees oversee ESG governance, ensuring robust risk management and internal controls. Fosun’s ESG report undergoes rigorous third-party verification, affirming the accuracy and reliability of the disclosed information.
BritCham Shanghai pointed out that over seven years, Fosun has consistently published ESG reports, supplemented by its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) report, demonstrating its commitment to climate action. To fortify its ESG commitments, Fosun has implemented the "1+N" strategic framework, encompassing carbon management systems, comprehensive reports, and an ESG-Carbon Neutralization system platform. This systematic approach, coupled with advanced management standards, bolsters the Group’s risk management and evaluates ESG performance effectively.
A representative of Fosun International said at the awards ceremony, “Thank you BritCham Shanghai for recognizing Fosun's ESG engagement and disclosure. Sustainability reporting is not just a box-ticking exercise. In assessing and ranking our material ESG issues, it is important to engage our key stakeholders actively to understand their concerns, priorities and expectations on ESG issues as well as their views on our performance. Having transparent disclosures in our sustainability report is useful in helping stakeholders understand our key sustainability risks and monitor our progress against goals and targets.”
As a global enterprise rooted in China, while actively creating business value, Fosun attaches great importance to corporate social responsibility and incorporates social responsibility into its sustainable development strategy. In order to further fulfill its corporate social responsibility, Fosun established Fosun Foundation in 2012 and 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. In the future, Fosun will continue to develop its businesses, strengthen innovation and globalization, and join hands with customers, partners, investors and all parties in society to forge ahead and continue to uphold its original aspiration of “Contribution to Society” so as to actively promote the sustainable development of ESG globally to fulfil Fosun’s mission of “Creating Happier Lives for Families Worldwide”.