(Yicai) Oct. 15 -- It is necessary to build an international platform to promote Chinese and foreign exchanges and co-operation in the field of sustainable development so that countries, companies and other participants can share their experiences, the co-chairman of the 2024 Global ESG Leaders Conference exclusively told Yicai before the conference kicks off tomorrow.

In this way, we can better understand global trends and learn how to overcome challenges in practice, thereby promoting sustainable development, said Tu Guangshao, who is also the chairman of the Shanghai Finance Institute and the former executive vice mayor of Shanghai.

The goal of the ESG Global Leaders Conference is to build a central platform to motivate Chinese and foreign exchanges, share experiences and promote the soundness of the ecological system, said Tu.

International cooperation is the key to promoting global sustainable development, and each country needs to shoulder responsibilities and do its part in responding to global challenges, Tu said.

China's sustainable development is an important part of global sustainable development, Tu said. China's sustainable development and ESG practices have distinctive Chinese characteristics.

There are three main lines in the development of ESG in China. The first is the combining of international trends and China's development characteristics. The second is the matching of infrastructure construction with corporate ESG practices. The third is the interaction between corporate ESG behavior and ESG financial investment.

Businesses, as micro-entities of social and economic activities, are the key to achieving sustainable development, Tu said. Practicing ESG involves transformation in five aspects, namely, development strategy, business models, management methods, performance evaluation and governance system.

The "Practicing the Road to Sustainable Development-2024 Shanghai ESG Development Report" will be released at the conference. It is the first comprehensive report in the country that demonstrates the development of local ESGs as well as Shanghai's all-rounded exploration, efforts and progress in promoting sustainable development.

Finally, Tu said he is looking forward to Shanghai's future role in sustainable development and ESG practice. Shanghai will continue to be a practitioner and pioneer that improves the ESG governance system through policy guidance, market cultivation, financial innovation and international cooperation. The city will contribute its insights and solutions to the sustainable development of the country and even the world.

Editor: Kim Taylor