This is China team from SAYUL Korea Club.
This month, our team have discussed about 'Examples of ESG & Public Diplomacy'.
Since it was very interesting, we would like to share what we have learnt.
Q. What is 'Chinese ESG'?
Chinese ESG includes three main features.
1) 'Decarbonization Policy' that focuses on environmental part of ESG
2) Nationwide Carbon Exchange
3) Establishment of standard ESG evaluation system
Q. How is 'ESG Management' in China?
1) Securement of Green Assets
2) Strengthening of ESG System
3) ESG Investment Requirements for Pension System
Q. What are the examples of ESG in China?
1) XingYe Bank (兴业银行): It was the first commercial bank of China to join the
Equator Principles in 2008 and introduce ESG management.
2) BYD: BYD focuses on new energy vehicles for ESG management. It established a
green management system and prepared measures to deal with unexpected
3) JD.COM (京东): JingDong, an e-commerce company, released its first ESG report
in 2021. It reduced carbon dioxide emissions by introducing a distributed solar
power generation system.
4) Huawei (华为): More than 400,000 green packaging materials were used in 2019
as an energy-saving solution that guarantees Huawei's products.
Q. What are the limits?
Asian companies, especially those in China, are more concerned about ESG-related
accidents than European companies because of the manufacturing-oriented
industrial structure that emits carbon such as metal and steel.
We have found out that China's financial, capital, and service markets expanded
by reform and opening. Interest in ESG has also increased and related discussions
are being conducted. However, policy cooperation among ESG stakeholders is
required. Global ESG standard also needs to be established. Chinese ESG strategy
remains in visionary, but it is clear that its performance is visible.
Thank you for reading :)