On December 20, 2022, State-owned Assets Supervision and Administration Commission of the State Council released the Central Enterprise Social Responsibility Blue Book (2022) in Beijing and State-owned Assets and Enterprise Social Responsibility Blue Book (2022) and Local State-owned Enterprise Social Responsibility Pioneer 100 Index. Shanghai Electric was listed in the Pioneer 100 Index and ranked 50 for its active exploration and outstanding achievements in various aspects of social responsibility.

In the past year, the Group followed the main path of seeking progress in stable development, making innovations while staying true to original aspiration, and promoting high-quality development, established the high-quality development concept and gained wide recognition, and made steady progress and achievements on various fronts. The new 14th “Five-Year” strategy of the Group was carried out in-depth, and the “4+2+X” track was being formed. Meanwhile, the management reform across the Group was vigorously promoted and steadily implemented. A large group of businesses shifted from expansion to in-depth development, and quality of development was improved across the board. Major legacy problems were resolved and risk control weaknesses were eliminated, boosting the confidence, determination, and solidarity of the Group.

For long, Shanghai Electric has integrated social responsibility with corporate development, and steadily pursued a path of high-quality development. An early adopter of ESG disclosure in China, Shanghai Electric has released ESG reports for six consecutive years. In recent years, the Group continued to integrate national strategy with corporate development, with a focus on low-carbon development and digital transformation. It deepens internal reform of the management system to optimize the corporate governance structure, improves ESG management system and works on ESG governance to promote high-quality development.

In terms of corporate governance, Shanghai Electric enhances internal compliance management to improve governance, and maintains an open communication channel to safeguard investor interests. It complies with laws and regulations on listed companies, optimizes the corporate governance structure, and promotes the compliance and transparency of business operation. In terms of environmental governance, Shanghai Electric has established the new-era SEC-LOVE management mode. Based on the environmental management objectives, it continues to reduce energy consumption, and improves environment-friendly operation through enhancing environmental risk control. In terms of social responsibility, Shanghai Electric advocates growth and achievement together with employees. It is active in public welfare activities and external assistance. By strengthening the implementation of epidemic prevention and control measures, it has contributed to the fight against the epidemic.

It is worth noting that MSCI, an renowned international index organization, upgraded Shanghai Electric’s ESG rating from BBB to A, marking improvement for the second consecutive year and demonstrating the global leadership of Shanghai Electric in corporate social responsibility.

This event was hosted by Bureau of Social Responsibility, State-owned Assets Supervision and Administration Commission of the State Council, sponsored by State Grid Corporation of China, and organized by China Social Responsibility 100 Forum. At the event, Bureau of Social Responsibility and CSR Cloud Research Institute released State-owned Assets and Enterprise Social Responsibility Blue Book (2022), the first research monograph on this subject. The Blue Book summarizes work progress in this field and features of the current phase. The first Local State-owned Enterprise Social Responsibility Pioneer 100 Index (2022) was also released, a collection of good examples from the local State-owned Assets Supervision and Administration Commissions and state-owned enterprises, aiming to provide strong support for high-quality work in this field.