Fosun International's HSI ESG rating upgraded, Selected as constituent of Hang Seng Corporate Sustainability Benchmark Index
HONG KONG, Sept. 7, 2020 /PRNewswire/ -- On 7 September 2020, the changes in the composition of the Hang Seng Corporate Sustainability Benchmark Index come into effect and Fosun International has been selected as constituent of the benchmark index for the first time. The benchmark index comprises 89 Hong Kong-listed companies which have performed outstandingly in corporate sustainability. Fosun International's inclusion in the index demonstrates the market's recognition of the company's efforts in sustainable development.
Recently, two ESG (Environmental, Social and Governance) ratings of Fosun International have been upgraded. On 31 August, the world's largest index company MSCI upgraded Fosun International's 2020 ESG rating from BBB last year to A this year for the company's outstanding performance in its ESG strategy, corporate governance, information disclosure, responsible investment and anti-corruption efforts, etc. Due to the excellent performance in corporate governance and fair operating practices, Fosun International's 2020 Hang Seng Sustainability Index rating was upgraded from A last year to A+. Fosun International was selected as a constituent of the Hang Seng Corporate Sustainability Benchmark Index on 7 September by Hang Seng Indexes Company Limited. This is the company's another achievement in Hang Seng Indexes since it was included in the Hang Seng China Enterprise Index in September 2019.
In recent years, the world has paid more attention to the sustainable development of corporations. Therefore, the scale of investment in sustainable development worldwide continues to expand. The Hang Seng Corporate Sustainability Benchmark Index is one of the well-recognized, important indexes in the capital market, and serves as an objective and reliable reference for worldwide investment in sustainable development. The research findings of Hang Seng Indexes Company Limited show that the stocks in the Hang Seng Corporate Sustainability Benchmark Index have provided better returns for the long term than those in the Hang Seng Index.
The selection of the constituents of the Hang Seng Corporate Sustainability Benchmark Index is based on a rigorous process. For a company to be considered as a candidate for that index, a place on Hang Seng Indexes Company Limited's list of eligible Hong Kong-listed companies is a prerequisite. The candidates' performances in seven core aspects, including corporate governance, human rights, labor practices, environment, fair operating practices, consumer issues, and community involvement and development, are assessed. Having gone through the assessment procedures, only companies in the top 20% with the highest scores for sustainability performance will be selected.
In 2019, Fosun International established the Environmental, Social and Governance (ESG) Committee under the Board of Directors, and established an ESG working group to raise the overall standard of ESG management. With the vision of "Self-improvement, Teamwork, Performance and Contribution to Society" and the mission to "Create happier lives for families worldwide", the Group will incorporate the ideas of sustainable development into every operational aspect. Fosun International is determined to promote the long-term and sustainable development of its business, committing to creating value for all stakeholders for the long term and fulfilling social responsibility as a corporate citizen.
Fosun was founded in 1992. Fosun's mission is to provide high-quality products and services for families around the world in health, happiness and wealth businesses. Fosun International Limited is an innovation-driven consumer group that has been listed on the main board of the Hong Kong Stock Exchange (00656.HK) since 2007, with total revenue of RMB143.0 billion (c.US$20.7 billion) in 2019 and total assets of RMB745.0 billion (c.US$105.2 billion) as of 30 June 2020. Fosun International ranks No.371 on the 2020 Forbes Global 2000 List.
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