Fosun International Receives "Excellence in Environmental Positive Impact Commendation" at Hong Kong ESG Reporting Awards

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Fosun International Limited (00656) received 'Excellence in Environmental Positive Impact Commendation' at the Hong Kong ESG Reporting Awards 2023 for its active green management practices and contribution to environmental protection. The company issued its first TCFD report to promote carbon neutrality and established a Carbon Neutrality Committee and Working Group. Fosun actively promotes energy conservation and carbon reduction and has become a member company of UN Global Compact and CBCSD to actively promote sustainable development.

HONG KONG, Nov. 22, 2023 /PRNewswire/ -- Fosun International Limited (HKEX stock code: 00656) recently received "Excellence in Environmental Positive Impact Commendation" at the Hong Kong ESG Reporting Awards 2023, in recognition of the company's active green management practices and contribution to environmental protection locally and globally.

The Hong Kong ESG Reporting Awards (HERA) is a not-for-profit initiative and one of the most prestigious awards for companies in Hong Kong on corporate sustainability. Supported by InvestHK of the Government of the Hong Kong Special Administrative Region (HKSAR), the Hong Kong Environment and Ecology Bureau of the HKSAR, Financial Services Development Council of the HKSAR, and organizations such as Hong Kong Green Finance Association and the Hong Kong General Chamber of Commerce.

The Hong Kong ESG Reporting Awards (HERA) aims to recognize companies that have performed outstandingly in ESG reporting and corporate sustainability. The award winners are strictly selected by an independent panel of judges that composed of experts from various backgrounds such as business, non-governmental organizations, and academia.

This year, Fosun International was awarded "Excellence in Environmental Positive Impact Commendation" by the professional institution in the industry, in recognition of the company's active commitment and efforts in ESG, especially in the environmental front, which have been widely recognized and affirmed. Fosun has always paid attention to the reform and development of the global policies in the field of sustainable development. It has established a comprehensive ESG management system, integrated ESG management requirements into business management over the years, actively responded to global strategies in relation to sustainable development, assumed more social responsibility, implemented "dual carbon" goals to promote sustainable management and value creation.

Issued its first TCFD Report to call on all sectors to promote carbon neutrality

Facing the increasingly severe challenges of global climate change, Fosun issued the ESG Report not only in accordance with the Environmental, Social and Governance Reporting Guide in Appendix 27 to the Listing Rules of Hong Kong Stock Exchange, but also prepared the ESG Report with reference to the Global Reporting Initiative (GRI) Sustainability Reporting Standards (GRI Standards). Fosun also disclosed its climate-related financial risks voluntarily and issued its first Task Force on Climate-Related Financial Disclosures report (the "TCFD Report") based on the Task Force on Climate-Related Financial Disclosures ("TCFD") recommendations this year to support and implement the TCFD recommendations, taking an important step to strengthen Fosun's climate resilience, demonstrating its commitment of climate action to international community, and call on all sectors to work together to promote carbon neutrality.

Established Carbon Neutrality Committee and Working Group to actively advance Fosun's carbon peak and carbon neutrality targets

Fosun also established a Carbon Neutrality Committee and a Carbon Neutrality Working Group, with carbon neutrality led and progressed by the Environment, Health, Safety & Quality (EHSQ) Department. The Carbon Neutrality Committee, composed of directors of Fosun International and directors of member companies, is responsible for supervising and promoting the overall carbon neutrality strategy, and regulating and monitoring climate-related risks and opportunities. Fosun has also added the indicator of "carbon neutrality management" to the ESG management performance appraisal mechanism of responsible persons of each business segment of the Group, with the aim of promoting further implementation and enforcement of carbon-neutral management across the Group.

In order to further push forward Fosun's 2050 "Carbon Neutrality Goal", the Carbon Neutrality Committee and the Carbon Neutrality Working Group further refined the Group's carbon neutrality goal, requiring each member company to set its own carbon neutrality goal based on Fosun's carbon neutrality goal. The Group will adjust its goal in a timely manner in light of the changes in the business landscape to make it more realistic and challenging.

Fosun also made systematic and standardized arrangement on EHSQ work of member companies, and at the same time put the "1+N" strategic deployment into practice, which involved setting up 1 carbon management system and producing N reports (including studies on water risk assessment, climate change, and biodiversity), and developing an ESG-Carbon Neutralization Life Cycle management platform that includes ESG and carbon neutrality-related content in the Group's system audit. Additionally, Fosun upgraded the corresponding management and reward system to scientifically and systematically manage corporate risks and gradually improve ESG management with reference to advanced international-leading management standards, requirements for energy control and environmental audit, etc.

Actively promote energy conservation and carbon reduction to contribute to the sustainable development of the Earth

The Group and its member companies actively promote energy conservation and carbon reduction and are determined to become carbon reduction pioneers in their industries. The Group's Atlantis Sanya obtained the National Certificate of Three-star Green Building Design and Operation Label, the highest level of Chinese green building certification; it also obtained the LEED (Leadership in Energy and Environmental Design) Gold Building Design and Construction Certification and the "EarthCheck" Silver Certification, and other leading environmental certifications for the global tourism industry. The Bund Finance Center (BFC), the Group's base in Shanghai and a landmark in Shanghai, was awarded the LEED Platinum certification, which is hailed as the "Oscar Award" in the green building industry, with a score of 97 points to set a new world record.

Became a member company of UN Global Compact and CBCSD to actively promote the sustainable development of China + the world

As a responsible global citizen, Fosun joined the United Nations (UN) Global Compact in 2014 and is committed to the global commitment of sustainable development. Fosun actively supports the UN Sustainable Development Goals (SDGs) including climate action, affordable and clean energy, life below water, life on land, and responsible consumption and production. It supervises and guides member companies to actively tackle climate change, carry out energy conservation and emission reduction in the course of operation, while seeking low-carbon opportunities and developing a green circular economy.

In 2020, Fosun joined the Chinese ESG Leaders Association and became a member of the China Business Council for Sustainable Development (CBCSD). In September 2023, the Group participated in the "Sustainability CEO Forum" held by CBCSD in Hefei, Anhui Province, China to discuss with relevant government departments, experts from research institutions and other enterprise representatives the integration into the overall development of the country to promote climate response, and achieve green and low-carbon development goals. 

Looking ahead, Fosun will continue to actively assume more social responsibility, implement the concept of ESG, create value and give back to society. With the global trend of promoting carbon neutrality, carbon emissions reduction and the sustainable development of the Earth, Fosun will continue to actively cooperate with its member companies to promote the implementation of ESG strategies, especially in the areas of carbon emissions peak, carbon neutrality, energy conservation and energy consumption reduction, and actively promote the sustainable development of the Group.

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FAQ

What award did Fosun International Limited (00656) receive at the Hong Kong ESG Reporting Awards 2023?

Fosun International Limited (00656) received 'Excellence in Environmental Positive Impact Commendation' at the Hong Kong ESG Reporting Awards 2023 for its active green management practices and contribution to environmental protection.

What is the significance of Fosun International's TCFD report?

Fosun International issued its first Task Force on Climate-Related Financial Disclosures report to promote carbon neutrality and demonstrate its commitment of climate action to the international community.

What did Fosun International do to promote carbon neutrality?

Fosun International established a Carbon Neutrality Committee and Working Group, and actively promotes energy conservation and carbon reduction.

What organizations is Fosun International a member of to promote sustainable development?

Fosun International is a member company of UN Global Compact and CBCSD, actively supporting the UN Sustainable Development Goals and promoting the sustainable development of China and the world.