Hundreds of representatives from Chinese and German companies gathered in the German city of Frankfurt on Friday for a conference to promote environmental, social and governance (ESG) best practices in business.
Under the slogan "Together for the future," more than 500 business representatives gathered to discuss ESG issues when it comes to investing and operating business at the First Sino-European Corporate ESG Best Practice Conference.
The Chinese Consulate in Frankfurt hosted the event.
"I think that's the common values we are aspiring for not only the Europeans, Americans, but we too. For these common values, we want to work together with European partners and also to want to further enhance Chinese companies' image here, because we want to show the European public that we are not only good at quality enterprise, but also good with our ideas and high standards on environment and social responsibilities," said Huang Yiyang, Chinese Consul General in Frankfurt.
Chinese petrochemical giant Sinopec won the honor of the Best Environmental Protection Case at the conference. For Sinopec, good ESG practices include seeking to further develop its renewable sector.
"We have only one beautiful Earth, which is the home of all of us. Green and low carbon development concerns the future of all humankind. Exploration and innovation in ESG practice have made it possible to promote global sustainable development. Sinopec will continue to improve its ESG management standard, bring more benefits to shareholders, employees, business partners, and society," said Yu Yongsheng, general manager of the brand department of Sinopec Group.
The main message from this conference has been that it's only through working together that the world's big challenges can be faced.
"I completely share your view that when we look at the environmental impacts, when we look at the changes in our environment, this is not something that one country in the world can solve alone. It can only be done if many important players get involved. You know the EU's position very well and we are pleased that China is also increasingly focusing on these issues and also seeing that it has the best long-term economic relations," said Ulrich Caspar, president of Frankfurt Chamber of Commerce and Industry.
While ESG may have its roots in Europe, there are areas that German manufacturing can learn from China, for example, the automobile manufacturing sector, some Germany attendees noted.
"At the moment it's the car manufacturing industry. It's very important because China is a bit better than Germany at the moment and therefore Germany has to learn from China. This is important when you see the ten cities, for instance, Beijing, millions of cars on the road and they all have to be e-cars, of course," said Walter Doering, former Deputy Prime Minister and Minister of Economics for the State of Baden-Wurttemburg.
China, Germany hold conference for ESG best practice
China, Germany hold conference for ESG best practice
China, Germany hold conference for ESG best practice
