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Fosun International Envisions Sustainable Future as ESG Leader in China

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Leo Gonzalez

May 16, 2024 - 03:07 am

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Fosun International: A Beacon of ESG Excellence in China's Growing Sustainable Business Landscape

HONG KONG, May 15, 2024 /PRNewswire/ -- Fortune China magazine has officially unveiled the prestigious 2024 China ESG Impact List, and it is with great honor that Fosun International Limited (hereafter referred to as “Fosun International” or the “Company”) (HKEX stock code: 00656) earns its position on this list, showcasing its exemplary commitment and leadership in the realms of environmental stewardship, social responsibility, and corporate governance (ESG).

Steadfast Progress in China's ESG Endeavors

According to Fortune China, the past year has seen a remarkable thrust in ESG initiatives across China, even amidst formidable macroeconomic trials. ESG principles have steered companies towards reinforcing their enduring competitiveness. Strikingly, the 2024 China ESG Impact List has expanded its horizons to include applications from foreign corporations for the first time, with 31 successful entries. Encompassing a broad spectrum of industries such as new energy, internet services, finance, health, and manufacturing, the 101 featured companies are at the epicenter of their respective sectors. Alongside Fosun International, prominent names like Alibaba, Ant Group, JD.com, Lenovo, Xiaomi, Bank of China, China Pacific Insurance, New World China, Shui On Land, CNOOC, Citibank, Microsoft, Siemens, Yum China, and Pepsi proudly stand on this list.

Fortune China extols these organizations as the torchbearers capable of instilling a transformative impetus within China's commercial milieu. Fosun International, in particular, garners praise for its strategies aimed at environmental betterment, workforce well-being, and societal support. Its acumen to sustain continuous and inclusive expansion through economic cycles has commanded widespread respect, positioning it as a luminary on the ESG front.

A Decade of Dedication to Global Sustainability and Remarkable ESG Performance

2024 marks the momentous 10-year anniversary since Fosun International's commitment to the United Nations Global Compact ("UN Global Compact"), a testament to its dedication to global sustainability. Since its association began, Fosun has seamlessly integrated the Compact's tenets concerning human rights, labor standards, environmental protection, and anti-corruption into its core strategies and daily operations, ensuring a conscientious business conduct.

In the aftermath of the pandemic, with persisting economic challenges, Fosun has pressed forward and demonstrated unwavering allegiance to sustainable development pillars. The notable achievement of sustaining an MSCI ESG rating of AA for three years successively is a feather in Fosun's cap, setting it apart as the solitary conglomerate in Greater China to boast this accolade. Additionally, Fosun International's HSI ESG rating received an upgrade to AA-, and it debuted as a member of the Hang Seng Corporate Sustainability Index. Moreover, Fosun stood out within the top 6% globally in the S&P Global Corporate Sustainability Assessment (CSA) and was conspicuous in the S&P Global's Sustainability Yearbook 2024, distinguished as an "Industry Mover" due to its stellar performance. Furthermore, the Company's selection as part of the FTSE4Good Index Series for two consecutive years signifies its enduring commitment to ESG excellence.

Fosun's Innovation-led Contribution to Society

Striding forward with an innovation-centric approach, Fosun facilitates pioneering breakthroughs in its business segments, substantially augmenting societal welfare. The year 2023 saw Fosun International make impressive advancements in the medical field, particularly with novel anti-cancer and anti-malarial remedies that have provided relief and hope to patients across the globe. Shanghai Henlius's HANSIZHUANG (Serplulimab Injection), an unprecedented anti-PD-1 monoclonal antibody endorsed for treating extensive-stage small cell lung cancer, now carries the approval for four distinct indications. The pioneering second-generation artesunate for injection (Argesun®) has received prequalification from the World Health Organization (WHO-PQ), becoming the pioneering injectable artesunate with a solitary solvent system recognized by WHO-PQ, greatly simplifying clinical application. Impressively, as of the close of 2023, this drug has rescued well over 68 million severe malaria victims globally. Additionally, marking a national first, Fosun Kite's CAR-T cell therapy product, Yi Kai Da (Ejilunsai Injection), has obtained conditional approval from China's National Medical Products Administration (NMPA) for a fresh second-line indication for lymphoma, thus expanding the therapeutic options for Chinese patients.

Pathway to a Sustainable Future: Fosun's Holistic ESG Strategy

Fosun International, with an eye set on the progression of global sustainability trends, pledges to enhance its ESG framework continually. The Company is eager to align with national strategies and is committed to safeguarding information security, spurring technological innovations, fulfilling "dual carbon" objectives, engaging in philanthropy, and bolstering employee rights to foster responsible management practices and create intrinsic value.

With the leverage of its extensive international business ecosystem, Fosun is poised to cast a meaningful footprint on sustainable development. Their efforts are geared towards crafting a world that reflects our shared aspirations for a brighter, more sustainable future, solidifying their position as a dynamic force in the realm of ESG progression.

Fosun International's ESG Impact Recognized Globally

The unwavering commitment that Fosun International has demonstrated in incorporating responsible business practices across the board has not gone unnoticed. The holistic approach in engaging member companies under its wing to execute ESG strategies indicates the depth of its resolve.

From the environmental conservation efforts that pivot around sustainable practices to the social contributions that make a tangible difference in communities, it is transparent that Fosun International is not merely ticking boxes; it is architecting a profound and lasting change. The recognition from reputed rating agencies and inclusion in prominent indexes reaffirms their stout standing in the ESG landscape.

A Future-Proof Legacy: Fosun's Journey Towards Excellence

The journey Fosun International has embarked on is not limited to ESG performance. It is about inculcating a culture that embraces the sustainable and beneficial aspects of business operation. Acknowledgement in the Fortune China list provides not just honor but also a barometer for all ESG-focused companies.

Fosun International continues to evolve, adapt, and inspire. The recognition as an industry mover in the Sustainability Yearbook 2024 and maintaining an exemplary rating underscores a steadfast commitment to building a legacy that values profitability alongside planet and people.

Steering the Helm of Innovation: Breakthroughs That Matter

Harnessing innovation as the driving force, Fosun International's contribution to healthcare has been particularly groundbreaking. Drugs like HANSIZHUANG, Argesun®, and Yi Kai Da stand testament to the company's pursuit of medical innovation that does more than just push the boundaries of science—it transforms lives.

These medical breakthroughs are examples of how Fosun International not only looks to the future but shapes it. By continuously delivering on its innovation-driven strategy, the company cements its reputation as a dynamic contributor to healthcare advancement.

Global Goals, Local Impact: Fosun's Worldwide Influence

Through advocating for UN Global Compact's principles and being proactive in challenging economic environments, Fosun showcases its ability to effect change that echoes globally. Their participation in international forums and responsiveness to global strategies such as the "dual carbon" goals position them as a responsible and conscientious global player.

Furthermore, Fosun International's contributions are not confined within its headquarters in Hong Kong; they ripple outwards, impacting communities, setting industry standards, and proving that local actions can indeed have worldwide implications.

Embracing the ‘Dual Carbon’ Goals and Beyond

Fosun International is not only aligning with China's 'dual carbon' objectives—emissions peak before 2030 and achieve carbon neutrality by 2060—but it’s also setting out to surpass them. As the company integrates these goals into its ESG strategy, it connects the dots between economic sustainability and environmental responsibility, paving the way for a greener and more sustainable China.

The company’s commitment to these goals reveals its broader aspirations to address climate change and underscores the connection between corporate success and environmental accountability.

Nurturing the Future: Fosun's Commitment to Communities

In fields extending beyond its business scope, Fosun International’s steadfast presence in philanthropic endeavors has demonstrated its willingness to go beyond the corporate call of duty. Whether contributing to the arts, education, or health, Fosun's deep roots in community engagement position it as a true leader in social responsibility.

With unwavering commitment to the rights and interests of its employees, Fosun stands as a beacon of support and advocates for an engaged and empowered workforce, ensuring that the journey towards sustainable success is traversed hand in hand with those who are intrinsic to company's operations.

Closing Thoughts: A Corporate Visionary in Sustainable Business Practices

As we stand witness to Fosun International's endeavors, the company’s position on the Fortune China 2024 ESG Impact List is a culmination of strategic vision, responsible business practices, and a genuine commitment to global sustainability. Creating value that transcends financial gains, Fosun International exemplifies the very essence of what it means to be a trailblazer in today’s business world – one that is future-proof, socially aware, and environmentally conscious.

For further information, please refer to Fosun International's Official PR Newswire release.