ESG is the abbreviation of Environmental, Social and Governance in English. It is an investment philosophy and enterprise evaluation standard that focuses on corporate environmental, social and governance performance rather than financial performance. Based on ESG evaluation, investors can observe the ESG performance of enterprises, evaluate their investment behavior and the contribution of enterprises (investment objects) in promoting sustainable economic development and fulfilling social responsibilities.
On August 23, Fortune China and Forbes China both released ESG lists for the first time, attracting attention. In these two lists, a total of three textile companies are on the list. Among them, Shenghong Group and Hengli Group are on the Fortune China ESG Impact List, and Rongsheng Holdings is on the Forbes China ESG 50 list.
There are 40 companies on the Fortune China ESG Impact List, 32 of which are Fortune Global 500 or Fortune China 500 companies. They have made outstanding achievements in improving the environment, protecting employees, and supporting communities. Their industry status means that their practices will have a leading role in the entire Chinese business world.
Forbes China ESG 50 follows the United Nations ESG framework and principles and selects 50 companies that are pioneers in ESG from the 2022 Forbes Global 2000 (ranked based on the four indicators of global listed companies’ revenue, profits, assets and market capitalization that year) Chinese companies.
•Hengli Group Co., Ltd.•
Hengli Group’s business involves oil refining, petrochemicals, new polyester materials and the entire textile industry chain. It owns the world’s largest PTA factory with the largest production capacity, the largest functional fiber production base and weaving enterprises. The environmentally friendly polyester materials developed by Hengli can be used in biodegradable shopping bags, express bags, disposable tableware and medical supplies, which can effectively reduce plastic pollution. In addition, its subsidiaries also respond to environmental challenges through energy conservation and emission reduction, reduction of solid waste emissions, and upgrading of sewage treatment technology.
Hengli Group uses concrete actions to share development results with society, and helps create a better community environment through disaster assistance, educational donations, volunteer services and other activities. Starting from the end of March 2022, Hengli Group has successively sent anti-epidemic and supply supplies worth 150 million yuan to the epidemic areas to help the epidemic areas solve people’s livelihood needs, protect medical safety, and defeat the epidemic as soon as possible.
In the future, Hengli Group will always follow the pace of the country, demonstrate the style of a leading private enterprise, focus on the main line of high-end manufacturing, continue to promote corporate innovation, intelligence, and green development, work hard in environmental, social and governance responsibilities, and develop an industry. A high-quality development path that coexists with ecology and environmental protection and pays equal attention to economic and social benefits.
•Shenghong Holding Group Co., Ltd.•
In recent years, Shenghong Group has continuously improved its ESG system and prioritized environmental protection, social responsibility, and corporate governance. Implement the “double carbon” goal, systematically promote green and sustainable development with world-class standards, create world-leading green industry project clusters such as carbon dioxide recovery to produce new materials, recycled fibers, photovoltaic-grade EVA, etc., and realize the “National Green Factory” The industrial base is fully covered, and a number of green indicators have become industry benchmarks. And through system construction and normalization measures, we will effectively protect the legitimate rights and interests of employees, actively participate in charity activities and give back to the society; improve the modern enterprise system, continuously improve the modernization level of governance capabilities, and achieve the harmonious and unified development of enterprises and society.
As a pioneer explorer of ESG, Shenghong will closely follow the development of the times, continue to actively promote the development of ESG, constantly refresh the level of environmental protection, social responsibility, and corporate governance, and strive to build a world-class enterprise with global competitiveness.
•Zhejiang Rongsheng Holding Group•
Zhejiang Rongsheng Holding Group is one of China’s leading private petrochemical companies. In recent years, it has taken “carbon neutrality” as an opportunity to fulfill its green commitments, actively exploring resource utilization maximization, intelligent process management, product structure optimization, and ecological park environment. A new development pattern, through upstream and downstream linkage, jointly promote the green and high-quality development of the industrial chain.
Before the “double carbon” goal was released, Rongsheng had already used practical actions to explore the green development of the company: the group revised the “Environmental Protection Management Responsibility System”, fully implemented the “Three Simultaneities for Environmental Protection” system, developed a circular economy, and promoted cleaner production; The Group fully promotes the construction of green and low-carbon production, accelerates the construction of “green factories” of subsidiaries, strengthens carbon emission management, reduces CO2 emissions in the production process, and actively practices the concept of green and low-carbon development.