Huangpu urges overseas companies to embrace ESG

Yang Jian
Key foreign-funded enterprises in Shanghai's downtown Huangpu District have been advised to prioritize ESG.
Yang Jian
Huangpu urges overseas companies to embrace ESG
Ti Gong

Huangpu Party Secretary Gao Yun (center) and director Shen Shanzhou (third right) pose with representatives of foreign-funded firms.

Foreign-funded firms in Huangpu District have been urged to increase their focus on environmental, social and governance (ESG) practices.

The initiative was highlighted during the 2024 New Year Gathering for Key Foreign-Funded Enterprises & Promoting Sustainable Development Themed Salon at the Shanghai Jiushi International Art Center on the Bund.

Huangpu's Party Secretary Gao Yun said that the district seeks to develop global paradigms in sustainable practices.

"Promoting green and low-carbon development aligns with international trends and is essential for high-quality growth," Gao said.

The overseas companies in Huangpu have emerged as the major practitioners of the ESG sustainable development concept, contributing to the rapid growth of Shanghai's low-carbon sectors, Gao said.

Huangpu had an actual usage of foreign investment of US$1.85 billion in 2023, an almost 70 percent rise year on year. The district has eight new regional headquarters for international firms.

The gathering saw the formation of the Huangpu District Foreign Enterprise ESG Case Collection and Evaluation Expert Group. It aims to improve the level of ESG practices among international firms in the district.

The district's hosting of the ESG Global Leaders Conference in 2023, a significant international ESG event with a permanent basis in Huangpu, demonstrates its dedication to sustainable development.

China's "dual carbon" objectives, which seek to peak carbon dioxide emissions by 2030 and attain carbon neutrality by 2060, are at the heart of the country's fight against climate change.

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