On 26 July, the seminar on "ESG Trend and Innovation Practices in the Manufacturing Industry" was successfully held at the Business School in the University of Nottingham Ningbo China (UNNC). The seminar was jointly organised by the Center for Responsible Business and Innovation (CRBI) of UNNC and Ningbo Zhedong Environment and Energy Exchange (ZDEAEE). Its aim is to build an exchange and cooperation platform in the field of ESG for manufacturing enterprises to better respond to the increasingly stringent ESG disclosure and practice requirements at home and abroad.
This seminar has invited 9 companies, including Ningbo Homelink Eco-iTech Co., Ltd., TAJCO Manufacturing (Ningbo) Co., Ltd., Sunny Optical Technology (group) co., Ltd., Ningbo Orient Wires & Cables Co., Ltd., Yueli Group Co., Ltd., Ningbo Lian Technology Co., Ltd., Kashion Industry Co., Ltd., Ningbo Xiasha Gears Co.,Ltd., and Industrial Bank Co., Ltd. Ningbo Branch, to jointly share the achievements of ESG practices and look forward to the future development of ESG.
The seminar also sought the views of enterprises on the revision and improvement of the group standard "Manufacturing Enterprise ESG Evaluation Standard". With the global advocacy of sustainable development, the ESG performance of enterprises has become a key indicator of their long-term value and social responsibility. For this reason, CRBI and ZDEAEE jointly launched the preparation of the group standard in May this year, aiming to create a set of tailor-made ESG evaluation frameworks for Chinese manufacturing enterprises that are both in line with international standards and Chinese characteristics. The standard aspires to be scientific, reasonable and easy to operate to help these enterprises enhance their international competitiveness and accelerate the process of green transformation.
During the introduction session, Professor Jing Dai, Director of CRBI, expressed that with the tide of global sustainable development, companies should look beyond financial profits and undertake deep social and environmental responsibilities. She then showcased the achievements and visions of Nottingham University Business School China and CRBI in the areas of green supply chain management, supply chain digital transformation and sustainable development education.
Ms Yinqiao Wu, Project Manager of the Innovation Development Department of ZDEAEE, elaborated in detail the development status of the ESG evaluation system at home and abroad, and explained the necessity and feasible path of ESG management practice of domestic manufacturing enterprises. She introduced the framework and content of the group standard "Manufacturing Enterprise ESG Evaluation Standard" for the representatives of the enterprises in the seminar.
In the discussion session, enterprise representatives said that enterprises have felt ESG requirements and pressures from international customers and regulators at different levels, and have thus taken practical steps to carry out initiatives such as clean energy substitution, ESG information disclosures, participation in ESG ratings, and the construction and improvement of internal ESG management systems. At the same time, enterprises are also generally encountering multiple challenges such as the mismatch between international and domestic standards, the imperfection of the local evaluation standard system and the shortage of professional talents. The enterprise representatives unanimously expressed their high recognition of the group standard "Manufacturing Enterprise ESG Evaluation Standard" and put forward suggestions on the construction of indicators, weighted distributions, scoring mechanisms, and promotion and application strategies of the standard.
Mr Xin Jiang, Deputy General Manager of ZDEAEE made a concluding speech, saying, "Sustainable development is a long-term and arduous task that requires the joint efforts of the government, academics, businesses and all sectors of society. We look forward to working together to promote the innovative development of ESG in China's manufacturing industry through more in-depth exchanges and collaborations to contribute further to the realisation of the global sustainable development goals."
The successful conclusion of this seminar marks significant progress in the development of the group standard "Manufacturing Enterprise ESG Evaluation Standard". In the future, CRBI will continue to deepen the revision and improvement of the standard and accelerate the process of its release. At the same time, CRBI will also actively organise a series of thematic lectures, high-end forums and exchanges in the field of ESG to stimulate widespread concern and in-depth discussion of ESG issues among all sectors of the community to promote the popularisation and practice of ESG concepts in Ningbo and even across the country.