SHANGHAI, Nov. 08, 2024 (GLOBE NEWSWIRE) — China’s first green, high-quality, and sustainable corporate group standard — the “Universal ESG Standard” — was unveiled on Nov. 7 at the “Brands Bring Better Future for the World — Global Forum for Brand Equity Strategists”  held during the 7th China International Import Expo (CIIE) in Shanghai. This event marks an important milestone in promoting the application of ESG principles among China’s enterprises.

This group standard was initiated by the Shanghai Services Federation (SSF), with UESG China serving as the lead drafter. It was officially launched in May and jointly drafted by over hundreds of global authoritative institutions, industry associations, and Fortune 500 companies and publicly listed corporations.

According to Tingxian Qu, CEO of UESG China, the standard employs a unified execution framework and a systematic, scientific evaluation methodology, which can identify and code outstanding enterprises committed to green and sustainable development. UESG China has collaborated with various parties to establish a universal ESG information disclosure platform, which covers enterprises with designated codes and publicly disclose excellent ESG information, in order to encourage enterprises to follow suit.

During the event, UESG China, together with the YRD BI&T Foundation, initiated a public welfare fund dedicated to promoting universal ESG standards and an ESG Development Action Initiative, aiming to enhance corporate awareness of ESG. Furthermore, the pianists Lang Lang and Gina Alice called on everyone to practice green and sustainable development through video messages.

The co-drafting units of the standard, including Li Auto, Nongfu Spring, ARROW, Didi Chuxing, Sinar Mas, ACCA, Siemens Healthineers, SF, 3M China, Bosch China, Shanghai Printing Industry Association, GCL, etc., have received the Annual Outstanding Case Awards.

UESG China is an international third-party ESG certification and information disclosure organization devoted to establishing ESG standards that are in line with China’s realities and ESG principles applicable to China. By providing systematic ESG services to enterprises to assist their green transformation and sustainable development, the company seeks to build a high-quality, green, harmonious, and sustainable world.

Source: UESG

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