Promoting the sustainable development of the Group's businesses and creating value for the long term
HONG KONG, July 8, 2021 /PRNewswire/ -- The Institute of ESG & Benchmark (IESGB) held the inaugural awards ceremony of the Environmental, Social, and Governance (ESG) Achievement Awards 2020 at the Hong Kong Productivity Council. Fosun International was awarded the "ESG Benchmark Awards – The ESG Leader" Gold Award in recognition of its efforts and outstanding performances in the environmental protection, social responsibility, and corporate governance aspects.
Companies worldwide paying greater attention to ESG performances
ESG Achievement Awards is organized by the IESGB, a non-profit taking organization, with the strong support of Hang Seng Indexes Company Limited (HSI) as the Honorary Supporting Organization.
The award aims to raise the importance and awareness of Hang Seng Sustainability Index among local companies and encourage the continuous contribution of the local companies in the ESG aspect. It also hopes to garner all the best ESG practitioners to set Hong Kong's sustainability benchmark across several industries.
With Hang Seng Indexes Company Limited (HSI) being the Honorary Supporting Organization and Hong Kong Quality Assurance Agency (HKQAA) as the ESG Data Provider cum Supporting Organization, the jury panel was able to evaluate participating organizations comprehensively and fairly.
Mr. Joseph H. L. CHAN, JP, Under Secretary for Financial Services and the Treasury, The Government of Hong Kong SAR, joined the award presentation ceremony as a guest of honor, accompanied by Dr. CHAN Pak Li, Bernard, JP, Under Secretary for Commerce and Economic Development, The Government of Hong Kong SAR, as an officiating guest. Mr. Joseph H. L. CHAN, JP, states, "ESG is indeed one of the current Administration's key policy priorities, and we have rolled out a series of measures to develop ESG in Hong Kong".
Mr. Paul Pong, Co-Founder of IESGB, states, "The Awards is an answer to the Hong Kong Stock Exchange's requirement for a listed company's ESG disclosure. And while this is a great step to the right direction, Hong Kong needs to catch up with and surpass its western counterparts by building awareness, education and building a benchmark of best ESG-related practices".
The Platinum and Diamond awards also acknowledged the achievement of the most prominent blue-chip companies in Hong Kong such as Henderson Land Development, New World Development, Sino Land and Chinachem Group, etc. as the ESG Leader and Outstanding Performer.
In recent years, investors worldwide are paying greater attention to companies' ESG performances. MSCI, one of the world's largest index companies, and Hang Seng Indexes Company Limited (HSI) have separately introduced their own ESG ratings. Many investment banks and rating agencies have included ESG performance as one of the rating criterions.
Fosun International fulfilling its social responsibility as an outstanding international corporation
In 2019, Fosun International established the ESG Committee under the Board of Directors and established an ESG working group to raise the overall standard of ESG management. With the vision of "Self-improvement, Teamwork, Performance and Contribution to Society" and the mission to "Create happier lives for families worldwide", the Group will incorporate the ideas of sustainable development into every operational aspect.
From the beginning of 2020 until now, the COVID-19 pandemic has brought a big challenge to the corporations around the world. Fosun International has deployed its worldwide resources to support the combats against the pandemic, thus fulfilling its social responsibility as an outstanding international corporation.
In the second half of 2020, Fosun International's two ESG ratings were upgraded. At the end of August 2020, MSCI, one of the world's largest index companies, upgraded Fosun International's ESG rating from BBB in 2009 to A in 2020. It is a recognition of Fosun International's good ESG performance, high standards of risk management and outstanding achievements in fulfilling its social responsibility.
Meanwhile, in early September 2020, Fosun International's rating in Hang Seng Sustainability Index was upgraded from A in 2019 to A+ in 2020 for the company's good performance in corporate governance and fair operating practices. With the rating upgraded, Fosun International was subsequently included in the Hang Seng Corporate Sustainability Benchmark Index on 7 September 2020 by HSI.
In the future, Fosun International is determined to promote the long-term and sustainable development of its business, committing to creating value for all stakeholders for the long term and fulfilling social responsibility as a corporate citizen.
Fosun was founded in 1992. Fosun's mission is to provide high-quality products and services for families around the world in health, happiness, wealth and intelligent manufacturing segments. Fosun International Limited is an innovation-driven consumer group that has been listed on the main board of the Hong Kong Stock Exchange (stock code: 00656.HK) since 2007, with total assets of RMB767.7 billion (c. US$117.7 billion) as of 31 December 2020. Fosun International ranks No.459 on the 2021 Forbes Global 2000 List.
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