Forbes China Releases 2022 China ESG 50

Forbes China released its 2022 China ESG 50 report on August 23, seeking to highlight the best practices of domestic enterprises in the field of ESG, analyzing and discovering their development status and related future trends.

Forbes China selected 50 Chinese enterprises that took the lead in ESG from the Forbes Global Enterprise 2000 list in 2022.

Internet companies such as Xiaomi, Baidu, Tencent, Alibaba and NetEase, car companies like Great Wall Motor and SAIC, and enterprises in the fields of energy and real estate were included on the list.

The selected enterprises cover more than 10 industries such as finance, energy, engineering construction, real estate, internet and electronic equipment. Among them, the number of companies from the financial industry ranks first, accounting for 20%, followed by energy and engineering construction with 14%, then real estate and internet with 10%.

Traditional energy industries, such as oil, gas and coal, have the highest ESG risk index. They are subject to huge pressure of ESG transformation. Among the 50 enterprises on the list, traditional energy enterprises in oil and coal industries, such China Petroleum and Chemical Corporation, China National Petroleum Corporation, Yankuang Energy Group Company Limited, China Shenhua Energy Company Limited and China Energy Construction, all voluntarily disclosed ESG reports.

There has been a year-on-year increase in the number of A-share listed companies issuing ESG-related reports in recent years. In 2021, the number reached 1,130, accounting for 26.9% of all A-share listed companies. However, only 66 companies issued pure ESG reports in 2021, accounting for about 1.57% of all A-share listed companies.

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Forbes China maintains that ESG is still in its infancy in China, with a series of pain points and challenges to be addressed. In a global context, overseas ESG is still full of controversies and topics after years of development. In particular, there has been much debate on the lack of uniform standards.