The launch event of the organizational standards of enterprises ESG evaluation system was held in Beijing on Nov. 16, 2022. (Photo by Wang Jiru)
BEIJING, Nov. 17 (Xinhua) -- A set of organizational standards of enterprises ESG (environmental, social, and governance) evaluation system was published on Wednesday in Beijing, serving as an essential infrastructure for the ESG practice of enterprises.
Led by China Economic Information Service (CEIS), Capital University of Economics and Business (CUEB) and China Enterprise Reform and Development Society, the formulation of the standards is jointly accomplished by over 90 enterprises, institutions and organizations.
The standards are featured with a complete structure and are suitable to apply in a broad range of scenarios, introduced Liu Zhaobin, president of China Association for Quality Promotion, noting that the newly-published standards also represent the combination of qualitative and quantitative measures, taking into consideration of both global perspectives and China's realities.
Publishing the organizational standards marks a good start for conducting objective evaluation of Chinese enterprises' ESG performance, as the international evaluation system is not fully consistent with China's practical conditions, said Zheng Donghua, deputy director of the research center of the State-owned Assets Supervision and Administration Commission of the State Council.
The ESG standard system, covering ESG disclosure, evaluation and so on, not only serves as an action guide for enterprises, but also an important reference for investment institutions and government departments, according to Qian Longhai, chairman of the Environmental, Social, and Governance Institute at CUEB.
Cao Wenzhong, vice president of CEIS pointed out that the standards are conducive to promoting enterprises' reform in enhancing ESG information disclosure, improving corporate governance, reducing market and operational risks, as a bid to achieve high-quality development.
The launch event on Wednesday also witnessed the release of the 2.0 version of Xinhua CN-ESG information service system and the initiation of an activity calling for outstanding ESG cases.
(Edited by Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org)
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