The Pudong Sustainable Development (ESG) Alliance was officially established at the end of last year, with 202 member units joining, including 176 foreign-invested headquarters across various industries such as biomedicine, integrated circuits, equipment manufacturing, and electronic information.

The alliance recently held its first co-chair meeting, during which participants discussed Pudong New Area's roadmap to building an ESG ecosystem for headquarters enterprises, which has brought international leading ESG management practices and experience to the area, driving local companies to enhance ESG competitiveness. For instance, Covestro, a leading producer of high-quality polymers, uses over 40 percent green electricity at its integrated site in Shanghai.

"ESG is no longer an option but a necessity for both governments and enterprises," said Zhang Yi, chairman of the Shanghai Pudong New Area Association of Enterprises with Foreign Investment and president of DuPont at Asia-Pacific region. DuPont has actively responded to China's "dual carbon" strategy, achieving a 58-percent reduction in greenhouse gas emissions by the end of 2023, surpassing its 2030 sustainable development goal.

Members of the alliance are also exploring ESG excellence. For example, State Grid Yingda Carbon Asset Management (Shanghai) Ltd is promoting a "carbon assessment + finance" model, linking green financial products with emission reductions among chain enterprises.

According to a survey by the Shanghai Pudong New Area Association of Enterprises with Foreign Investment, 95 percent of surveyed enterprises in Pudong have embraced sustainable development, with 42 percent recognized as having excellent ESG cases, 53 percent establishing ESG positions, 67 percent conducting ESG training, and 74 percent disclosing ESG reports.

Pudong's foreign-invested enterprises will continue to advance ESG initiatives, aiming to build a sustainable ecosystem and further Pudong's leadership in ESG innovation.