Collectively demonstrate practical experience and development strategies, and the ESG of central enterprises in Shanghai should do the same

Among the more than 260 state-owned enterprises in Shanghai, more than 210 have disclosed ESG reports, sustainability reports or social responsibility reports; Nearly 230 companies disclosed the establishment of environmental protection related mechanisms, accounting for nearly 80% and nearly 90% respectively. This is the ESG disclosure of Shanghai central enterprises in 2022 revealed in the collective roadshow of Shanghai companies with the theme of "ESG of central enterprises" on October 26.

In the roadshow on the same day, 16 state-owned enterprises showcased their achievements in ESG practices and future plans, including product research and development, organizational structure construction, information disclosure and other aspects.

In the context of the "dual carbon" strategy, as a bridge connecting the real economy and the capital market, financial institutions are also actively promoting ESG development strategies. According to Wang Junfeng, secretary of the board of directors of CITIC Securities, since 2016, the company has underwritten a total of 414 domestic green bonds, with a cumulative financing scale of 927.7 billion yuan. At the same time, the company actively participates in the construction of the carbon market, industry cooperation, and standard formulation, and pioneers the credit risk mitigation tool for carbon pledge loans, carbon value-added trading, carbon emission reduction investment and trading and other products and services.

In terms of future ESG development plans, CITIC Securities said that it will unswervingly follow the path of green development and sustainable development, actively promote and participate in green finance innovation, provide capital market solutions for the implementation of the country's major decisions and deployments of "carbon peak" and "carbon neutrality", continue to promote the issuance of green bonds, green investment and other businesses, and guide the transformation of industrial structure and energy structure to green and low-carbon with capital allocation.

As a major carbon emitter, the development concept of ESG, enterprises in the energy industry are more important. At present, the development of clean energy and new energy has become the key to the competition of energy enterprises. Sinopec, PetroChina, and CNOOC, the "three barrels of oil" of leading energy companies, respectively demonstrated their ESG development and future plans in the roadshow.

Huang Wensheng, vice president and secretary of the board of directors of Sinopec, said that the company actively responded to climate change, enhanced green and low-carbon competitiveness, and established China's first million-ton CCUS project. At present, the company focuses on the two major fields of hydrogen energy transportation and green hydrogen refining, anchors the goal of building "China's No. 1 hydrogen energy company", and actively promotes the layout of the whole industrial chain of hydrogen energy "production, transportation, storage and sales". In the future, Sinopec will adhere to the development strategy of "one base, two wings and three new", provide hard support in basic energy, strengthen the development of clean oil products and modern engineering industries, make efforts in new energy, new materials and new economy, practice high-quality development, and create greater value for shareholders and society.

Pei Ying, deputy director of the Office of the Board of Directors of PetroChina, said that in recent years, PetroChina has made full use of regional and technological advantages in accordance with the three-step strategic deployment of clean substitution, strategic succession and green transformation, and coordinated the promotion of wind power, photovoltaic, geothermal, hydrogen energy and CCUS business, and strived to achieve the proportion of new energy production capacity to reach 7% of the company's primary energy production by 2025, and the pattern of new energy, oil and gas in 2035, and nearly zero emissions around 2050. By 2050, basically 50% of the new energy will be renewable.

Yangtze Power's ESG development has also attracted the attention of investors. Nie Wugang, director of the office of the board of directors of Yangtze Power, said that the company aims to build a world-class clean energy listed company, actively promotes ESG work practices around green development, social contribution and efficient governance, and has achieved the "double zero" goal of safe production for 13 consecutive years, and has provided more than 3.3 trillion kilowatt-hours of clean electricity, which is equivalent to saving about 990 million tons of standard coal and reducing carbon dioxide emissions by about 2.7 billion tons. In addition, the company also actively practices the ESG work concept in contributing to society, improving the company's image, paying attention to the health of employees, and improving the corporate governance structure, so as to promote the company's high-quality and sustainable development.