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Fosun International's HSI ESG Rating Upgraded to AA-, Selected as a Constituent Stock of the Hang Seng Corporate Sustainability Index
News provided byFosun
Sep 19, 2023, 9:30 PM ET
HONG KONG, Sept. 19, 2023 /PRNewswire/ -- Hang Seng Indexes Company recently announced its latest Sustainability Ratings of listed companies. Fosun International Limited (HKEX stock code: 00656, "Fosun International" or the "Company"), with its outstanding sustainability performance, its HSI ESG rating has been upgraded to AA- and has been 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. The upgrade in the rating reflects the high recognition of Fosun International's performance in the ESG (Environmental, Social, and Governance) field by the market.
The Hang Seng Sustainability Index selects outstanding companies in the field of sustainability by evaluating Hong Kong-listed companies on seven core indicators, including corporate governance, environment, and fair operating practices. The criteria for inclusion in this index are stringent, utilizing the sustainability rating framework of the independent professional assessment body, the Hong Kong Quality Assurance Agency (HKQAA). This approach ensures objectivity in the selection process, providing a high-quality benchmark for sustainability-themed investments.
To keep up with the evolving ESG landscape, the methodology of 2023 sustainability assessment has been enhanced by reference to the international and local protocols, and the assessment framework has been reorganized. Under more stringent selection criteria, Fosun International's HSI ESG rating ascended from A to AA-, boasting scores that outperformed 90% of global enterprises in four core areas: Corporate Governance, Environment, Consumer Issues, and Community Involvement and Development. In addition to being selected as a constituent stock of the Hang Seng Corporate Sustainability Index for the first time this year, Fosun International has also been selected as a constituent stock of the Hang Seng ESG 50 Index for three consecutive years, a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for four consecutive years, and for the first time, a constituent stock of the Hang Seng (Mainland and HK) Corporate Sustainability Index.
Fosun International remains steadfast in upholding its core values of "Self-improvement, Teamwork, Performance and Contribution to Society," continually bolsters its ESG framework, and integrates the principles of sustainable development into every facet of its operations. Since 2019, Fosun has established a comprehensive ESG governance structure and management system responsible for overseeing ESG development policies and performance. In line with its commitment to corporate social responsibility, Fosun established Fosun Foundation in 2012, actively participating in philanthropic endeavors encompassing areas such as global emergency relief, rural revitalization, health, education, culture and art, and caring for children and adolescents, demonstrating its commitment to public welfare. Additionally, Fosun has committed to society - "strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050", and officially solidified its carbon neutrality roadmap in 2022 to accelerate the implementation of the Group's carbon neutrality initiatives. In April 2023, Fosun released its first TCFD (Task Force on Climate-related Financial Disclosures) report, underscoring its commitment to climate action and rallying global cooperation towards carbon neutrality.
In recent years, Fosun has shown outstanding performance in various aspects of ESG. In February 2023, the Fosun Foundation's Rural Doctors Program received the prestigious "Shanghai Charity Award," the highest governmental recognition in the field of charity in Shanghai. In June 2023, Fosun secured the fifth position in the "China's Top 100 ESG Listed Companies" ranking. Presently, Fosun International is the only conglomerate in Greater China rated AA by MSCI ESG Ratings. Fosun International outperformed 91% of its global peers in the S&P Global Corporate Sustainability Assessment, and was included in S&P Globa's Sustainability Yearbook 2023 (China Edition), and was recognized as "Industry Mover". Furthermore, Fosun International has made consecutive improvements in FTSE Russell ESG rating and has been selected as a constituent stock of the FTSE4Good Index Series for the first time in 2022.
In the future, Fosun will continue to develop its businesses, strengthen innovation and globalization, and continue to drive long-term and sustainable business growth, thereby creating enduring value for all stakeholders and faithfully fulfilling its mission of "Creating Happier Lives for Families Worldwide".
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; it received an AA MSCI ESG rating and was the only conglomerate in Greater China with such rating.
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