On the moring of November 26th, the China Association of Fragrance Flavour and COsmestic Industries (CAFFCI) held the 2023 Industry Sustainable Development (ESG) Forum of Fragrance Flavour and Cosmetics in Jinan, Shandong. The forum extensively discussed the incorporation of ESG principles into the fragrance, flavor, and cosmetic industry to drive sustainable development within the sector.
Yin Gefei, founder of Goldenbee Consulting, was invited to attend the event and delivered a speech titled 'ESG: A New Approach for Enterprise High-Quality Development.'Focusing on the origin and development of ESG, ESG competitiveness and high-quality enterprise development, and the shaping of ESG competitiveness, he emphasized that the requirements of Chinese path to modernization is the specifc content of the high-quality development of enterprises, and the formation of ESG competitiveness represents a concrete path to achieve such high-quality development.
Additionally, Mr. Yin Gefei partook in a 'Sustainable Development (ESG): Opportunities and Challenges' roundtable discussion, engaging in insightful conversations and knowledge sharing with representatives from L'Oréal, Shandong Frada, Nox Bellcow, and Bloomage Biotech. This exchange provided valuable guidance and inspiration for fragrance industry players striving for sustainable development.
During the forum, the CAFFCI initiated ESG-related standardization efforts. Future endeavors will concentrate on formulating ESG standards and empowering training to assist industry entities in establishing ESG management systems gradually, aiming to encourage industry enterprises to seamlessly integrate ESG concepts into their business operations and development, merge the development and implementation of ESG with new philosophies to propel tightly-knit high-quality development.