Shanghai event underscores ESG efforts made by multinationals
Corporate environmental, social and governance (ESG) practices came under the spotlight at the 2024 Forum on ESG of Foreign-Invested Enterprises, hosted by the Shanghai Foreign Investment Association on Dec 5 in Shanghai.
The event marked the official launch of the ESG Branch for Regional Headquarters of Multinational Companies — regarded as a milestone in advancing ESG practices among foreign-invested enterprises.
The newly established ESG branch is committed to fostering collaboration among foreign-funded companies in Shanghai, driving innovation in ESG practices, and providing professional support for its members.
Through policy implementation and communications platforms, the branch seeks to boost Shanghai's position as a global leader in sustainable development while reinforcing ties between international and local businesses.
The branch also supports global sustainable development goals by promoting best practice and encouraging innovation in ESG reporting and implementation.
During the forum, 10 multinational companies were recognized for their outstanding ESG reports — including Sinar Mas Paper (China) Investment Co Ltd, Budweiser Investment (China) Co Ltd, and Yum China Holdings Inc.
The awards, presented by Luo Zhisong, chief economist of the Shanghai Municipal Commission of Commerce, highlighted the role of multinational corporations in advancing sustainable development in China.
About SHFIA & ESG membership
The Shanghai Foreign Investment Association, or SHFIA, founded in March 1988, is a non-profit organization for foreign-invested enterprises in Shanghai.
Supervised by the Shanghai Municipal Commission of Commerce and registered with the Shanghai Civil Affairs Bureau, SHFIA is dedicated to promoting China's policies on opening up to foreign investment, enhancing communications between businesses and the government, and providing professional services to its members.
Foreign-backed enterprises are encouraged to register and join the ESG branch to access resources and actively participate in shaping sustainable best practice in the region.
For inquiries about joining the ESG branch, please contact:
Tao Jiaxin
Email: jiaxin.tao@safi.org.cn