Fosun International's Vision for Global Sustainability
Releases 2024 ESG Report and Climate Information Disclosures
Fosun International Limited (HKEX stock code: 00656, "Fosun International"), along with its subsidiaries, recently published the Environmental, Social and Governance (ESG) Report for 2024. This report is a response to the pressing challenges posed by climate change. Fosun also released its third Climate Information Disclosures Report following the New Climate Requirements of the Hong Kong Stock Exchange, following international recommendations like the Task Force on Climate-Related Financial Disclosures (TCFD).
Driven by the motto of "Self-improvement, Teamwork, Performance, and Contribution to Society", Fosun is dedicated to the principle of developing a business that promotes positive societal impact. By diligently refining its sustainable development strategy, Fosun aims to navigate the evolving global economy while ensuring both long-term competitiveness and social value. In the previous year, the organization outlined its strategic focus through six critical directions encapsulated in the concept of "Create IMPACT"—where I stands for Innovation-driven, M for Mindful Operation, P for People and Partner Oriented, A for Advanced Governance, C for Climate and Planet Positive, and T for Transparency.
Commitment to Sustainable Development and Community Welfare
As part of its efforts towards sustainable development, Fosun has actively engaged in its core business strategies across over 35 countries and regions. The focus is on contributing responsibly to public welfare and building sustainable value globally. Fosun has invested heavily in philanthropic projects encompassing areas such as rural revitalization, healthcare access, educational equality, and cultural initiatives. Each of these efforts plays a significant role in fostering a more inclusive and sustainable future.
Fosun's dedication to global citizenship is evident as it joined the United Nations Global Compact in 2014. The Group fully endorses the ambitious ten principles laid out by the UN, encompassing human rights, labor practices, environmental stewardship, and anti-corruption measures. These values are intricately woven into its "Create IMPACT" strategy. Despite facing uncertain global conditions, Fosun has pledged to maintain its commitment to sustainability, achieving noteworthy ratings including an MSCI ESG rating of AA and an HSI ESG rating of AA-.
Aligning Business Strategies with Climate Change Initiatives
The organization's proactive approach to climate change includes a transition from mere adaptation to active advocacy and innovation. Guided by its Board of Directors and the Carbon Neutrality Committee, Fosun has made significant strides in sustainability by embedding carbon neutrality measures within management evaluations, establishing a carbon emission oversight system, and offering training on greenhouse gas inventory across its departments.
Technological advancement is at the forefront of Fosun's approach to a low-carbon transformation. The Group has rapidly adopted innovative low-carbon technologies, thereby enhancing the sustainability of its industrial activities and delivering eco-friendly products to consumers. In 2024, it successfully secured a sustainability-linked syndicated loan worth USD888 million, marking a significant advancement in financial strategies for sustainable growth.
Fosun's commitment extends to the national initiatives surrounding carbon neutrality. Its ambitious goals include reaching peak carbon emissions by a specified year and achieving carbon neutrality shortly thereafter. By adopting international frameworks like the TCFD and IFRS S2, Fosun demonstrates its commitment to making substantial contributions towards climate change mitigation.
Innovative Contributions to Healthcare and Community
Fosun adheres to a strategy centered on innovation. This has been exemplified by its successful development of essential medication for cancer and malaria patients, dramatically improving health outcomes. The groundbreaking anti-PD-1 monoclonal antibody, HANSIZHUANG, has recently been approved for use in the European Union, marking a significant milestone in cancer treatment.
In collaboration with healthcare initiatives, Fosun has introduced its CAR-T cell therapy product, impacting numerous patients suffering from lymphoma. The recent advancements showcase Fosun's ongoing commitment to enhancing medical care accessibility and affordability for wider populations.
Moreover, the establishment of the Fosun Foundation in 2012 highlights the organization's dedication to fulfilling corporate social responsibilities across various sectors including emergency relief, education, and youth development. Its impactful Rural Doctors Program is one notable initiative that has supported thousands of rural healthcare providers, enhancing healthcare accessibility greatly.
Integrating ESG Performance into Corporate Strategy
Fosun has instituted a comprehensive, top-down approach to improve ESG performance. ESG management is now a key factor in assessing Executive Directors, with dedicated committees established to oversee implementation and strategy execution. The Group's commitment to implementing effective risk management and internal control systems is solidified by its structured approach to ESG.
Fosun is poised to continue its proactive engagement in the rapidly evolving field of sustainable development. Its commitment to achieving national carbon goals, promoting educational equity, and enhancing community welfare is unwavering. The Group is determined to leverage its industrial network to make meaningful contributions to global sustainability efforts.
Frequently Asked Questions
What is Fosun International's primary mission?
Fosun International aims to create happier lives for families worldwide while fostering a sustainable business model focused on health, happiness, and wealth.
What initiatives does Fosun undertake for climate change?
Fosun promotes innovative low-carbon technologies and integrates sustainability into its operational strategies, pledging to peak carbon emissions by a set year.
How does Fosun support the community?
Fosun engages in various philanthropic initiatives focusing on health, education, rural revitalization, and cultural efforts to build a sustainable future for communities.
What is the significance of the Create IMPACT strategy?
The Create IMPACT strategy reflects Fosun's commitment to sustainability, underlining its focus on innovation, governance, and social responsibility.
How does Fosun address corporate social responsibility?
Fosun established the Fosun Foundation to drive social responsibility endeavors, including programs that enhance health access and support rural medical services.
