Fosun's S&P Global CSA ESG score jumped significantly, its MSCI ESG rating stood at AA for three consecutive years
- Fosun's S&P Global CSA ESG score jumped from 56 points to 68 points, significantly ahead of the industry average of 29 points and making it among the top 6% of industries worldwide.
- Fosun International received an MSCI ESG rating of AA for three consecutive years and was the only conglomerate in Greater China with such rating.
HONG KONG, Jan. 9, 2024 /PRNewswire/ -- Fosun International Limited ("Fosun International" or "Fosun", HKEX stock code: 00656) has recently received an update on its S&P Global Corporate Sustainability Assessment (CSA) score and MSCI ESG rating. As of December 2023, its S&P Global CSA ESG score jumped from 56 points last year to 68 points this year, significantly ahead of the industry average of 29 points and making it among the top 6% of industries worldwide. In addition, Fosun International received an MSCI ESG rating of AA for three consecutive years and was the only conglomerate in Greater China with such rating.
In the S&P Global CSA, with outstanding sustainability performance, Fosun International has achieved excellent results, surpassing more than 90% of its global peers in areas such as Business Ethics, Environmental Policy & Management Systems, Emissions, Resource Efficiency and Circularity, Waste and Water, Risk & Crisis Management, Customer Relationship Management, Talent Attraction & Retention, and Innovation Management. In June 2023, Fosun International was included in S&P Global's Sustainability Yearbook 2023 (China Edition) and recognized as an "Industry Mover".
In the MSCI ESG rating report 2023 for Fosun International, thanks to its continuous commitment, particularly in Labor management, and Opportunities in Clean Tech, scores for these issues have significantly improved. Fosun International received an MSCI ESG rating of AA for three consecutive years and was selected as a constituent of the MSCI CHINA ESG LEADERS 10-40 Index again, demonstrating the capital market's affirmation of Fosun's ESG management performance and long-term investment value.
In recent years, Fosun International's ESG ratings have continued to excel, underscoring its outstanding sustainability performance. In 2023, Fosun International's HSI ESG rating was upgraded to AA- and was selected as a constituent stock of the Hang Seng Corporate Sustainability Index for the first time. The constituent stocks in this index are composed of 30 Hong Kong listed companies with the best ESG performance. Fosun International's FTSE Russell ESG score was upgraded from 3.0 to 3.8, consistently higher than the global industry average, and it has been continuously selected as a constituent of the FTSE4Good Index Series.
Fosun International has always paid attention to the development of the global sustainability. Fosun has continually bolstered its ESG framework, and actively responded to national strategies, implemented "dual carbon" goals, participated in public welfare, protected the rights and interests of employees to promote sustainable management and value creation.
Established a sound ESG management system and joined associations to promote China + global sustainable development
Over the years, Fosun International has established a sound ESG management system. Fosun has set up ESG Board Committee and ESG Executive Committee, thereby fully implemented ESG strategies and relevant action of the Group. As a responsible global citizen, Fosun formally joined the United Nations (UN) Global Compact in 2014. Moreover, Fosun joined Chinese ESG Leaders Association in 2020, and became a member of the China Business Council for Sustainable Development (CBCSD), to call on all sectors to promote green development.
Responded to national and global green strategies, call on all sectors to promote carbon neutrality
Actively responding to national strategic requirements, Fosun International has committed - "strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050". Besides, Fosun, in collaboration with all member companies, reviews environmental, health, safety, and quality practice systematically and standardly. Meanwhile, Fosun puts the "1+N" strategic deployment into practice to achieve the objectives. This involved setting up 1 carbon management system and producing N sustainability reports. Facing the increasingly severe challenges of global climate change, Fosun issued its first Task Force on Climate-Related Financial Disclosures (TCFD) report in April 2023, demonstrating its commitment of climate action to international community.
Upholding the original aspiration of "Contribution to Society" and take on social responsibility
Since its establishment in 1992, Fosun has defined its corporate values of "Self-improvement, Teamwork, Performance, and Contribution to Society". The growth of the enterprise is not only the accumulation of business achievements but also its contribution and responsibility to society. In order to further fulfil its corporate social responsibility, Fosun established Fosun Foundation in 2012 and continues to advance in the fields of global emergency relief, rural revitalization, health, education, culture, and art, and caring for children and adolescents, demonstrating its commitment to public welfare.
Looking ahead, Fosun International will continue to actively take on greater social responsibility, cooperate with its member companies to promote the implementation of ESG strategies, especially in the areas of carbon emissions peak, carbon neutrality, energy conservation and energy consumption reduction. Fosun will continue to actively promote the Group and its member companies to forge ahead the sustainable development of ESG globally, with a view to fulfilling Fosun's mission of "Creating Happier Lives for Families Worldwide".
About Fosun
Fosun was founded in 1992. After more than 30 years of development, Fosun has become a global innovation-driven consumer group. Adhering to the mission of creating happier lives for families worldwide, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness, and wealth. In 2007, Fosun International Limited was listed on the main board of the Hong Kong Stock Exchange (stock code: 00656.HK). As of 30 June 2023, Fosun International's total assets amounted to RMB834.9 billion. Fosun received an MSCI ESG rating of AA and was the only conglomerate in Greater China with such rating.
About MSCI
MSCI is a leading provider of tools and services to assist the global investment community in making critical decisions. With more than 50 years of expertise in research, data, and technology, MSCI helps clients understand and analyse risks and key factors that drive returns, so that they can build more effective investment portfolios and make better investment decisions. The MSCI ESG ratings measure a company's ability to withstand long-term environmental, social, and corporate governance risks and give industry-specific AAA to CCC rating to the company based on the major and most relevant aspects of its business model.
About S&P CSA
Launched in 1999, the S&P Global Corporate Sustainability Assessment (CSA) grades enterprises on how they put sustainability into practice, covering 61 different industry-specific ESG standards. Evaluating more than 7,000 companies each year, CSA has become a reference tool for enterprises, helping them gauge the financial importance of a company's sustainability performance from the perspective of investors.
SOURCE Fosun
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