ESG for a Beautiful China parallel session at the 2024 ZGC Forum

Excellencies,

Ladies and Gentlemen,

I thank the Foreign Environmental Cooperation Center of the Ministry of Ecology and Environment for the invitation to speak at the ZGC Forum ESG Parallel Forum.

As we witness the far-reaching impacts of climate change, the escalating tensions of geopolitical conflicts and the widening gulf of global inequality, it is clear that we are at a watershed moment. With just 6 years remaining to realize the commitments of the 2030 Agenda for Sustainable Development, most of the targets for achieving the Sustainable Development Goals (SDGs) are off track. The challenges we face are interconnected and demand a collaborative, multifaceted response. 

In this context, Environmental, Social, and Governance (ESG) principles have emerged as a guiding paradigm for businesses to engage in our journey towards a more sustainable future.

China, as the world’s second-largest economy with cutting-edge innovation and technological prowess, can and must stand at the forefront of this transition. In September 2020, President Xi Jinping proposed the goal to achieve peak carbon emissions before 2030 and carbon neutrality before 2060. This is the first time China has made clear policy statements and declared a timeline for action on carbon neutrality to the world. I congratulate China’s efforts on this commitment.

I have seen firsthand China’s substantial investments in green energy and its leadership in renewable energy infrastructure also demonstrate its efforts to accelerate the energy transition from fossil fuels to clean energy sources.

Despite the progress that has been made, continued innovation, investment and collaboration are still needed to build a low-carbon future and improve high-quality development. The principles of ESG can provide a robust framework for steering the energy transition, and for integrating economic prosperity with environmental management and social well-being.

The private sector and its involvement in ESG play a paramount role in accelerating the energy transformation and driving sustainable development forward. Through the adoption of ESG principles, enterprises can align their strategies and practices with environmental sustainability, social equity, and effective governance, thereby contributing to positive social impacts while ensuring long-term economic benefits. 

Just as UN Secretary-General, Mr. António Guterres has said, “We need every company to make a difference where it matters most: on the ground, for people and planet.”

In addition, the pursuit of sustainable development requires more than just corporate responsibility; it demands collective action and collaboration across sectors and borders, engaging not only the government and the private sector, but also other social and international organizations, academia and civil society.

Ladies and gentlemen,

The United Nations is committed to leveraging ESG criteria to advance China’s progress on the SDGs. The UN in China promotes ESG principles in our programs and operations, and actively advises both state-owned and private enterprises on incorporating ESG strategies into their business models, aimed at aligning investments and practices with the SDGs, creating positive impacts across the global business community. Encouragingly, initiatives such as the UN Global Compact and other partnerships between UN agencies and Chinese entities are fostering responsible business conduct and promoting ESG-oriented practices on a global scale. 

Through capacity-building sessions, technical expertise sharing, and advocacy for sustainable practices, the private sector is empowered to facilitate innovative solutions, foster inclusive growth, and advance the SDGs.

But our work is far from done. We must strengthen our efforts to accelerate progress towards the SDGs and ensure a successful transition to renewable energy. Last year’s Sunnylands Statement between China and the United States and discussions at COP28 highlighted the importance of international cooperation to address the climate crisis. 

This year, we look ahead to the Summit of the Future in September, bringing world leaders together to reach a consensus on an action-oriented outcome to revitalize the multilateral system to respond to our current challenges.

Our collective efforts today can pave the way for a brighter tomorrow. I call upon each of you to embrace the principles of ESG and leverage the resources and expertise of the private sector to improve environmental protection and build a better world for future generations.

Thank you.