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Our ESG report "From Principles to Practices: ESG Practices of German Companies in China 2024" was officially released in May. This report represents the German Chamber’s pioneering effort to assess the current state of ESG practices among German companies operating in China.


Highlights

The report shows the company's best practices in 3 parts (Environment, Social, Governance):


Environment

  • Quantify greenhouse gas emissions and establish climate action targets

  • Reduce the proportion of fossil energy use

  • Promote the application of photovoltaic power generation

  • Introduce process technology innovation

  • Pay attention to product lifecycle management

  • Cultivate employee awareness of low-carbon behavior


Social

  • Strengthen the construction of ESG systems in the supply chain and actively respond to due diligence investigation laws in various countries

  • Deepen human resources development

  • Establish an employee assistance platform to care for employees’ physical and mental health

  • Advocate diversity and equality and create an inclusive culture

  • Undertake community public welfare and promote school-enterprise cooperation


Governance

  • Encouraging more stakeholders to participate in organizational decision-making

  • Emphasizing supplier and partner management

  • Comprehensively implementing a business ethics code

  • Disclosure quality and transparency


Outlook

  • Information Disclosure: Companies will adhere to unified ESG disclosure standards, moving towards the "double materiality" principle and the ISSB framework. Meanwhile, the demand for ESG report certification will rise, meeting investors' demands for transparency and authenticity.

  • Natural Capital: Enterprises will face stricter regulations on the protection of natural resources and must take effective measures to reduce harm to these resources. The development of the blue economy will also spur companies to take on greater responsibility in protecting marine biodiversity.

  • Risk Management: Corporate risk management will shift from a reactive to a proactive approach, utilizing digital tools for systematic risk control and strengthening cross-regional and cross-organizational cooperation to tackle complex environmental and social risks.

  • Artificial Intelligence: With the rapid advancement of AI technology, companies will confront new challenges in information security and ethical issues. These factors need to be integrated into all aspects of product and customer safety management.


Click the following links to download the report:

从理念到实践:在华德企ESG实践报告 2024

From Principles to Practices: ESG Practices of German Companies in China 2024