Exhibition shines spotlight on corporate social responsibility

A major exhibition organized by UN Global Compact signatory GREENEXT that focused on environmental, social and governance (ESG) principles concluded last week in Shanghai, attracting over 4,000 visitors, including multinational companies and industry experts.

The United Nations Global Compact Liaison Office in China has participated in this GREENEXT Expo by setting up its own exhibition and organizing a high-level event to commemorate its 20th anniversary of proposing the ESG concept and principles. The exhibition and the event have provided a platform for businesses and stakeholders to discuss integrating sustainability into corporate practices and explore new approaches to creating a green future.

Liu Meng, head of the Liaison Office of the UN Global Compact in China, emphasized the broader significance of ESG in driving corporate sustainability worldwide.

"The concept and principles of ESG were born from the United Nations, initiated by former Secretary-General Kofi Annan, who envisioned a global compact of shared values that would give a human face to the global market," she said. "Our mission is to unite businesses worldwide to create a world that leaves no one behind, and help build capacity for private sector companies everywhere to make collective impact and positive contributions to the sustainable development goals."

Liu highlighted the rapid growth of interest in ESG principles in Asia.

"Asia is showing incredible momentum, with businesses increasingly adopting global ESG standards, participating in green initiatives, and embracing the digital and AI era," she said. "The opportunities for sustainable business in this region are immense."

The exhibition featured over 100 leading brands and companies showcasing their latest innovations and achievements in sustainable development. Attendees were invited to discuss sustainability across various sectors through keynote speeches, roundtable talks, and workshops featuring experts from around the world.

Reflecting on the UN Global Compact's progress over the past two decades, Liu remarked, "Our most significant achievement has been expanding our network to include over 24,000 companies across 170 countries, all working together toward sustainable development. We've mobilized thousands of companies to set goals, make commitments, and invest in sustainability, driving progress toward the 2030 Agenda."

With the recent introduction of mandatory ESG disclosure guidelines in China, Liu sees both opportunities and challenges ahead for Chinese companies.

"These guidelines present tremendous opportunities for Chinese companies to enhance their international competitiveness, promote sustainable development, and share their experiences with the rest of the world. However, they also pose challenges, such as increased compliance pressure and the need for higher transparency. It is crucial for businesses to navigate these complexities to build a strong foundation based on 10 principles of Global Compact."

The exhibition also featured a special showcase, "Uniting Global Businesses for a Better World: ESG+20 Sustainable Development Exploration." It offered insights into significant achievements in global sustainable development and provided businesses and the public with valuable perspectives on ESG principles and best practices.

"The collaboration between governments, businesses and non-profits is essential in driving sustainability," Liu said. "By working together, we can achieve a more sustainable future."

Prominent guests, including representatives from the French, American, Dutch and Singaporean consulates in Shanghai, attended the event, underscoring its international significance.

The exhibition also featured workshops on sustainable fashion, energy storage technologies, and innovative solutions for climate change, providing practical insights into green transformation.

With its emphasis on ESG principles, the event demonstrated how businesses can change to reduce their environmental footprint while creating social value. It also reinforced Shanghai's role as a leader in global sustainability efforts and set the stage for future collaboration in achieving sustainable development goals.