Fosun International’s MSCI ESG rating upgraded to AA Yahoo FinanceFosun International’s MSCI ESG rating upgraded to AA Yahoo Finance
Impact Investing Forum 2023
London. May 04-05, 2023.
HONG KONG, Jan. 6, 2022 /PRNewswire/ — The world’s leading index company MSCI announced the results of Fosun International Limited (HKEX stock code: 00656) (“Fosun International” or “Fosun” or the “Group”) 2021 ESG (Environmental, Social and Governance) rating. As a result of the substantial improvement in the scores of corporate governance, corporate behavior, responsible investment, and opportunities in clean technology, Fosun International’s MSCI ESG rating has upgraded from A to AA, and the total score has been increased from previous 7.1 points to 8.1 points (out of 10 points).
The MSCI index is the most used benchmark index by global portfolio managers, and its ESG rating results have become an essential basis for investment decisions by major investment institutions around the world. The MSCI ESG rating is mainly based on company disclosure and public information from other channels. It comprehensively evaluates the risk exposure and risk management capabilities of companies centered around key ESG issues related to key operations.
As a global company rooted in China, Fosun takes initiatives to create business value and gives high priorities to corporate social responsibility. Together with its original aspiration of “Self-improvement, Teamwork, Performance, and Contribution to Society” and its corporate mission of “Creating Happier Lives for Families Worldwide”, Fosun has always integrated the principle of sustainable development into all levels of the Group’s operations.
In March 2019, Fosun established the ESG Committee under the Board of Directors. The committee consists of six board members, and an independent non-executive director to serve as the chairman of the committee. For daily ESG operation, Fosun has established an ESG management committee and an ESG working group to assist the ESG Committee in implementing ESG initiatives and ensure the establishment of appropriate and effective ESG risk management and internal control systems.
In the past year, Fosun International has continued to improve its ESG management system, promote the implementation of various ESG management measures, and comprehensively strengthen ESG management:
In line with the national “dual carbon” strategy, Fosun International established the Carbon Neutrality Committee, set its “Dual Carbon” goals, and started to explore implementation approaches with its member companies. Its member company, Atlantis Sanya has completed the carbon neutral of greenhouse gas emissions from energy consumption from April to June 2021, and was the first to receive the carbon neutral certificate and the “National Quality Engineering Award” among tourism enterprises in Hainan.
Revised and refined various policies and systems related to business ethics, and explicitly prohibit bribery, corruption, blackmail, fraud and other behaviors that damage the company’s reputation and interests.
Issued the “Regulation of Global Customer Service and Quality Supervision and Management” to continuously strengthen the protection and supervision of network security and user privacy information, further promoting the development of the “Customer-centric, Product Line-oriented” business operations.
With an aim to creating a good corporate atmosphere and enhancing employees’ sense of belonging to the company, Fosun is committed to building an excellent team of talents and creating a safe and secure working environment for its employees.
Further promoted the implementation of the “Supplier Code of Conduct” by value chain partners, conveyed the concepts and requirements of sustainable development to partners, walked hand in hand with partners in the value chain, and actively played the leading role of ESG.
Attached great importance to the environmental protection work of various industries, and guided product lines to continuously optimize its environmental performance through supervision and inspection to improve the efficiency of resource utilization.
Formulated a responsible investment policy. While conducting responsible investment, Fosun also provided empowerment and incubation for entrepreneurs and their teams by leveraging Fosun’s ecosystem, creating high-value social contribution and driving more employment in society.
In terms of social welfare, while developing rapidly, Fosun leveraged its own industrial advantages to actively give back to the society through philanthropic activities such as supporting the combat against the pandemic, the fight against malaria in Africa, flood control and disaster relief, Rural Doctors Health Poverty Alleviation Program (“Rural Doctors Program”), education, culture, and entrepreneurship support, etc. In the fight against the pandemic, Fosun has leveraged its global resource advantages and deployment capabilities to actively assist the fight against the pandemic at home and abroad. Fosun also partnered with German BioNTech to jointly develop the COVID-19 mRNA vaccine, contributing to the control of the pandemic. In addition, Fosun has been actively supporting rural revitalization and promoting common prosperity in rural areas. Since the establishment of the Rural Doctors Program in December 2017, the program has covered 73 counties across the country, supported 24,000 rural doctors, and benefited 3 million grassroots families in the past four years.
For listed companies, an excellent ESG rating reveals the steady operation capacity and outstanding corporate governance of the company, and reflects that the company has established the effective ESG risks management structure, formulated and continuously improved the management policies, and adopted comprehensive management measures. The upgrade of Fosun International’s MSCI ESG rating is an endorsement of Fosun International’s ESG risk management performance, as well as an affirmation of its long-term investment value.
Fosun, which is about to turn 30 this year, will continue to uphold its original aspiration of developing its business for good and “Contribution to Society”, actively shoulder more social responsibilities, implement ESG strategies, constantly create value and give back to the society, helping to promote high-quality development and common prosperity. With the global trend of promoting carbon neutral, carbon emission 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 emission peak, carbon neutral, biodiversity, energy conservation, etc., and actively promote the sustainable development of the Group.
Fosun was founded in 1992. Fosun’s mission is to provide high-quality products and services for families around the world in health, happiness, wealth and intelligent manufacturing segments. Fosun International Limited is a global innovation-driven consumer group that has been listed on the main board of the Hong Kong Stock Exchange (stock code: 00656.HK) since 2007, with total assets of RMB778.9 billion (c. US$120.6 billion) as of 30 June 2021. Fosun International ranks No.459 on the 2021 Forbes Global 2000 List.