The theme of this roundtable discussion is "Successfully Navigating Global ESG Minefields."  Topics include the interpretation of Shanghai's new ESG standards, how Chinese companies can better meet global ESG qualifications, the development pathway for ESG in China, the business value of sustainable development, and the crucial roles of internal and external legal teams, etc.

This time, Mr. Qu was also serves as the Chairman of the Leverage Sustainable Development Committee and Co-Leader of the Shanghai Industrial Economic Association's Sustainable Development Standards Group, will introduce the Shanghai standards in place of Secretary-General Jiang from the Shanghai Industrial Economic Association.

The host mentioned a total of four questions, and the three guests who participated in the sharing respectively answered them based on their own practice. Here is Mr. Qu's share:

Guest Introduction

We are an international provider of sustainable business service technologies, focusing on compliance, ESG, and carbon neutrality. We offer services such as training, audits, certification, verification, and consulting to help our clients seamlessly and responsibly integrate into the global supply chain with confidence.

Today, I am here to introduce the Shanghai standards on behalf of Secretary General Jiang. Additionally, I serve as the co-leader of the Sustainable Development Standards Group of the Shanghai Industrial Economic Federation, focusing on the development, dissemination, and application of sustainability-related standards in Shanghai and China.

ESG practices and challenges in China, Japan and Europe, such as how to effectively control and enforce company ESG policies on the international supply chain?

As a technology company that has been providing supply chain services to domestic and international brands and retailers for many years, we help these brands mitigate product and operational risks associated with the supply chain.  These risks include product defects, recalls, labor issues, health concerns, environmental challenges, and anti-fraud risks, all while protecting and enhancing their brand image.  We also promote sustainable improvements and best practices, including initiatives related to ESG (Environmental, Social, and Governance).

After years of observation and practice, we are pleased to see that many Chinese enterprises exemplify good practices, including Goldwind Technology, Lenovo, and Yili.

Chinese companies often struggle to effectively communicate and share their stories;  however, this does not mean we lack the ability to do so well.

Of course, challenges exist, such as the Uyghur Act, the Forced Labor Act, the EU's Green New Deal, the Battery Act, and the CBAM (EU Carbon Border Adjustment Mechanism), which frequently restrict and disrupt our normal business operations.

How does ESG create business value and how can ESG policies be effectively enforced to avoid significant damage claims and negative impacts on the company's finances?

Through the three dimensions of ESG thinking, and indexed tools can help enterprises to make decisions and form practices. We should view the business value practice of enterprises from the following aspects.