Social
Fosun for Good, Sharing Happiness
Staying True - Together for A Better Life
Since its establishment, Fosun has adhered to the concept of "Self-improvement, Teamwork, Performance, and Contribution to Society,” deeply committing to corporate social responsibility and continuously facilitating economic, social and national development. Founded in November 2012, Fosun Foundation is a “5A Social Organization” (the highest ranking) in China. The coverage of the foundation includes emergency relief, health promotion, rural revitalization, youth entrepreneurship, education, and culture & art, etc., serving many countries and regions around the world, and fulfilling corporate social responsibility with concrete actions.
Regarding rural revitalization, the Health by Heart - Rural Doctors Program trains and retains qualified rural doctors, and enhances the capacity of primary healthcare services to support the rural revitalization strategy and realize the “Healthy China 2030" vision. Regarding education, the Emerging Visionaries initiative encourages middle school students to carry out innovative public welfare actions in line with the United Nations (UN) Sustainable Development Goals (SDGs), promoting the alignment of Chinese youth philanthropy with international standards. Regarding youth entrepreneurship, the Protechting Global Youth Start-Up Acceleration Program supports young people’s entrepreneurial dreams in the AI+ era, fostering exchanges between young innovators from China and the West. The “Tai Chi Adjuvant Therapy Against Chronic Diseases” project provides free online and offline Tai Chi courses to patients with Parkinson’s disease and Alzheimer’s disease, helping them improve their symptoms and regain confidence. In response to sudden global disasters, the Fosun Foundation embodies the spirit of humanitarian assistance by mobilizing resources for timely disaster relief and post-disaster reconstruction.
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Vision
Help families all over the world to “create a better life”
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Mission
Utilize resources in Fosun ecosystem to respond to global demand and deliver greater social value
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Objectives
1. Provide diversified public welfare services for families worldwide to drive social innovation;
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2. Make Fosun a more responsible global citizen
Focus Areas
Together for A Better Life, Sharing Happiness
- Health
- Education
- Culture & Art
3+3
Good
Life+Good
Future
- Rural Revitalization
- Global Development
- Emergency Relief
In addition, the Fosun Foundation has collaborated with caring enterprises, artists, and charitable organizations to provide joint donations for natural disasters such as floods, earthquakes, and mudflows both domestically and internationally.
Responsible Investment
Promote the integration and development of responsible investment in Fosun
Fosun Insurance Portugal has integrated ESG factors into its core businessand started to develop more ESG-compliant financial products. Fosun InsurancePortugal launched two sub-funds with ESG objectives under the EU SustainableFinance Disclosure Regulation (SFDR) in 2022, and has gradually integratedsustainability factors into its life insurance product “Fidelidade Savings” toensure it is in line with the United Nations (UN) Sustainable Development Goals(SDGs) and the United Nations Principles for Responsible Investment (UN PRI).Industries that are controversial, have a negative impact on the environment,or do not comply with the provisions of the UN Global Compact’s principles suchas to human rights, work, environment and corruption will be excluded from theportfolio.
Peak Reinsurance is asignatory to the Principles for Sustainable Insurance (PSI) of the UnitedNations Environment Programme Finance Initiative (UNEP FI). In the course ofinvestment, Peak Reinsurance is committed to promoting the integration of PSIin investment decisions, follows an exclusion policy designed to mitigate theenvironment and social risk of its investment portfolio.
ESG exclusion and tracking list:Peak Reinsurance identifies sensitive industries including weapons and ammunition,alcohol, tobacco, gambling, drift fishing, forestry and logging, etc., andconsiders possible environmental and social risks of such industries, to developan ESG exclusion and tracking list. Based on the involvement of the underlying productionand trading activities in sensitive industries, Peak Reinsurance sets up differentthresholds to control the environmental and social risks of its investment and underwritingactivities.
Cooperate To Achieve Multiplier Growth
Create sustainable supply chains to increase the responsible impact
Fosun Pharma has established the green supplierassessment system that all existing and potential suppliers involved in theproduction and operation of major procurement categories are included in the annualgreen supplier assessment. Under the green supplier assessment system, thesuppliers are reviewed, scored, differentiated and managed through 25indicators in environmentally sustainable development, safety & accidentprevention and system management. The suppliers are classified based on thescoring from one star to five stars (five stars representing the mostexcellent). The assessment includes document audit and on-site EHS audit andsubsequent improvement suggestions are provided. In addition, Fosun Pharmaconducts training on green supplier assessment system for member companies, toenable them to better achieve green supply chain management.
Shanghai Henlius, a member company of Fosun Pharma, has launched a strategyof local and diverse sourcing of materials to ensure production and marketsupply by enhancing supply chain stability and resilience. As of the end of2023, in terms of procurement amount, 35% of the materials were from localsuppliers on average, 25 localization projects were in progress, and 78% of thematerials had 2 or more alternative suppliers.
Fosun Tourism Group (“FTG”) has continued toimprove the Fosun Tourism Group Supplier ESG Rating Scale, and comprehensivelyevaluated the ESG risk and management level of suppliers from 5 levels and 62points, including labor, business ethics and code of conduct, safety andhealth, environment impact, and management system. ESG self-assessment andon-site evaluation must be conducted on suppliers within every three years.Existing suppliers on the List of Key Suppliers and the List of Suppliers withOngoing High Risks are subject to self-assessment at least once every year, aswell as on-site audit and evaluation at least once every three years.
FTG adheres to the policy of giving priority tolocal procurement, and aims to continuously enhance local employment andprocurement, while promoting collaborative development with local communities,as stated in its 2030 sustainable development goals. In 2023, the proportion oflocal procurement in Atlantis Sanya and Taicang Alps Resort, FTG’s membercompanies, reached 67%.
Club Med, a member company of FTG, has committed to sourcing 65% of itsfresh agricultural products (vegetables, fruit, butter, egg, cheese, meat) fromlocal sources by 2030. In 2023, Club Med employed 73% of its staff locally. Atthe same time, Club Med promotes technological progress in the local communityby improving the work skills of local workers.
In order to strengthen the management of conflictminerals and risk aversion, Yuyuan connected the upstream and downstream andstrengthened the control of conflict minerals. Yuyuan optimizes and implementsthe Special Provisions on the Procurement of Conflict Mineral Raw Materials, tomanage the corresponding raw materials of jewelry fashion industry, deepeningthe management of responsible procurement. On the basis of the system, Yuyuanpromised to eliminate the procurement of jewelry and gold involving “conflictareas”, and avoid conflict minerals in raw materials from three aspects: zerotolerance policy, promoting supplier due diligence and incorporating supplieradmission standards.
