FOSUY - Fosun International improves MSCI ESG rating to grade A
HONG KONG, Sept. 1, 2020 /PRNewswire/ -- On 31 August 2020, the world's largest index company MSCI announced the results of Fosun International's 2020 ESG (Environmental, Social and Governance) rating. In recognition of its outstanding performance in its ESG strategy, corporate governance, information disclosure, responsible investment and anti-corruption, Fosun International's MSCI ESG rating has improved from BBB last year to A in 2020.
The MSCI index is the most used benchmark index by global portfolio managers, and its ESG rating results have become an essential basis for investment decisions by major investment institutions around the world. The MSCI ESG rating is mainly based on such public information as corporate ESG reports, websites and news releases. It evaluates the company's sustainability performance from the perspective of ESG, assesses the ESG risks faced by the company, and identifies opportunities for the company's core business and ESG issues about which the industry is concerned.
In the past year, Fosun International has improved its policies on and systems for ESG management and put in place with various ESG management measures. Fosun International has established an ESG Committee under the Board of Directors to supervise and govern ESG matters at the level of the board. It has also set up an ESG working group to implement various ESG measures to enhance its ESG management comprehensively. Fosun International has also announced various anti-corruption policies and systems, which clearly prohibits bribery, corruption, blackmail, fraud and other behaviours that can tarnish the company's reputation and interest. The Company has also established a code of conduct for its suppliers throughout the entire value chains of its businesses to fulfill its ESG commitments. It also formulated responsible investment policy and practiced responsible investment. For instance, it conducted business incubation and offered assistance to the founders of the start-ups with the help of Fosun International's own ecosystem of businesses. The move has made significant contributions to society as it has generated more opportunities for employment. Fosun International also deployed its worldwide resources to support the combats against the epidemic, thus fulfilling its social responsibility as an outstanding corporation.
A higher ESG rating is a manifestation of a listed company's capability to its steady business operation and its outstanding corporate governance. It also indicates that the company has formulated more comprehensive policies on management and adopted more suitable measures to manage the risks related to the ESG issues. The MSCI's upgrade of Fosun International's ESG rating is an endorsement of Fosun International's ESG risk management measures and level, as well as an affirmation of its long-term investment value.
Fosun International will continue to combine its ESG strategy and vision of "Self-improvement, Teamwork, Performance and Contribution to Society" with its mission to "Create happier lives for families worldwide". It will also continue to incorporate the concept of sustainable development in the operation of its businesses of "Health, Happiness and Wealth", endeavoring to create value for society.
SOURCE Fosun