China Corporate Action on Sustainable Consumption released

On November 6, the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) opened in Egypt's coastal city of Sharm El-Sheikh.

On November 9, Ms. Shi Ting, General Manager of GoldenBee (Beijing) Sustainable Brand Communication Ltd.(hereafter referred as GoldenBee Communication) , was invited to attend the meeting via online video, and delivered a keynote speech "Responding to Climate Change & Jointly Building a Better Future" at the side meeting themed by "Climate Action and Sustainable Consumption" at the China Pavilion, and released the first Report of China Corporate Action on Sustainable Consumption (the Report) to the world.

COP is the abbreviation of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), which is held once a year.

Based on the outcome of COP26, COP27 focuses to discuss and take action on a series of important issues in the global response to climate change, such as urgent reduction of GHG emissions, building resilience, and delivering climate financing commitment to developing countries. The release of the Report aims to show the contributions made by Chinese enterprises in coping with climate change and supporting SDG12: Responsible Production and Consumption. Meanwhile, the Report is to set a benchmark for Chinese enterprises in sustainable consumption and production, so as to provide reference for more enterprises committed to in-depth participation in sustainable consumption.

Shi Ting, General Manager of GoldenBee Communication, releases the Report online.

The highlights of the Report include the discovery of corporate action on sustainable consumption, 12 model enterprises taking the lead in sustainable consumption and production, insights from market trends and brands in view of the impact of corporate actions with sustainable consumption on the future development of enterprises.

The Report points out that corporate actions on sustainable consumption focus on four aspects:

1) Integrating the climate change response action into business development strategy is a general trend. Up to 75% of companies have organized their employees to take part in environmental protection related training. 50% have institutionalized it and established special training funds. This is the first step for most companies to practice the sustainable consumption internally.   

2）Near 80% of companies highlight the R&D of sustainable products and services, suggesting the important role of R&D in corporate action on sustainable consumption.

3）More than half of companies have already developed low-carbon supply chain, and taken relevant actions to drive the transformation of the whole industrial chain.

4) It shows a new ecology of consumption built by companies and consumers.

Regarding the impact of sustainable consumption action on the future development of enterprises, the Report shows that under the “30·60 Decarbonization Goal”, many Chinese companies have announced their carbon neutrality goals and plans to achieve them, which can not only help protect the environment and promote sustainable development at the national and global levels, but also bring many benefits to the enterprises, such as improving profitability, enhancing investor confidence, driving corporate innovation, reducing regulatory uncertainty, and strengthening brand reputation based on corporate social responsibility.

According to the Report, sustainable development has become a strong tide pouring into the consumer market, and with the awakening of public opinion and consumers, and it has become an inevitable trend for sustainable consumption to be integrated into product and brand competition. Promoting sustainable consumption with a green, moderate, civilized and healthy style as the core is not only the inevitable choice to help the sustainable, healthy and green development of the global economy, but also the surest way for companies in various industries to achieve sustainable development.

It is reported that this Report has been strongly supported by such platforms as the Global Sustainable Consumption Initiative, GoldenBee Global CSR 2030 Initiative, and GoldenKey-SDG Solutions Campaign. The Report also provides a strong reference for the international community to understand and grasp the sustainable consumption and production of Chinese enterprises.

Click the link to download the English report: https://en.csr-china.net/uploads/soft/221111/2_1558126461.pdf