Opinion: Beyond the Bottom Line
China is moving fast to embrace environmental, social and governance (ESG) as a critical input in government policy and in boardrooms, although in comparison with many developed Western economies, the country falls far short and has a lot of catching up to do.
For the ESG spectrum, the ‘E’ stands for environment, in particular greenhouse gas emissions, pollution and environmental degradation. The ‘S’ encompasses employee relationships, safety and the effect of an entity’s operations on the local community. The ‘G’ covers shareholder rights, executive pay and general standards of governance, such as stringent adherence to accounting principles and operational transparency.
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