On the morning of June 23, under the witness of China Chamber of Commerce of Import and Export Machinery and Electronic Products (CCCME) President Zhang Yujing and other guests, Zheng Chao, vice president of CCCME and chairman of the expert committee, signed a strategic cooperation agreement with Mei Xiangrong, founding partner, director of the global board of directors of Yingke Law Firm, fully relying on the expert resources of the CCCME expert committee and the advantages of the whole industry chain, as well as Yingke’s global legal service network and industry-leading professional capabilities, to provide enterprises with the most urgently needed comprehensive legal advice and ESG system construction services for improving their international business capabilities, to jointly promote the high-quality development of foreign investment cooperation.
Before signing the contract, the leaders of the two parties discussed the new situation and challenges faced by foreign investment and cooperation under the current situation, and how to guide and serve enterprises to better grasp development opportunities, accelerate the building of internationalization capabilities including ESG systems. In-depth exchanges were conducted on topics such as the soft power of international standards and rule systems that match the volume of foreign investment and project contracting capabilities, and the integration of more high-quality resources to create more accurate, efficient, and valuable enterprise service products. Senior Expert, Distinguished Expert of Expert Committee Mr Huang Baodong, Expert Committee Member Mr Xu Jifei, Director of Legal Services Department Mr Chen Huiqing, Director of International Industry Cooperation Service Center Mr Dong Ming; Founding Partner of Yingke International, Global Partner of Yingke Law Firm, and Executive Chairwoman of Yingke Global Board Ms Yang Lin (online) ; Director of Yingke China Board Mr Li Zheng; and Directorof Yingke Beijing Management Committee Mr Ye Gengqing, attended the meeting.
On the afternoon of the same day, the “CCCME Webinar” hosted by CCCME was successfully held. The theme of the webinar is “Accelerating the Construction of ESG System and Promoting High-quality Overseas Investment Cooperation”. Zheng Chao, Vice President of CCCME and Chairman of the Expert Committee, attended and delivered a welcome speech. Lawyer Yang Lin, Founding Partner of Yingke International, Global Partner of Yingke Law Firm, and Executive Chairwoman of Yingke Global Board, was invited to be the keynote speaker, and Wang Lijie, Deputy Secretary-General of the CCCME Expert Committee, presided over the webinar.
Focusing on the theme of the lecture, Lawyer Yang Lin Introduced the Six Principles of UNPRI and the 17 Sustainable Development Goals of the United Nations, introduced the key areas of focus of the machinery and electronic industry required by the Sustainability Accounting Standards Board (SASB), and explained China’s ESG-related regulatory policies and the World Bank’s environmental and social responsibility framework. In the field of ESG, the disclosure of corporate sustainability information is a very important issue. Lawyer Yang Lin introduced the system and development of the relevant international disclosure framework, especially for the two consultation drafts of information disclosure benchmarks issued by the International Commission on Sustainable Development (ISSB) in March this year.
Chinese enterprises are also facing the legal risks of ESG compliance in the host country in the process of “going global”. Lawyer Yang Lin introduced the relevant laws and policies of ESG in key countries and regions such as the United States, Japan, and the European Union, and gave tips on the main points that enterprises should pay attention to. Next, Lawyer Yang Lin gave an in-depth explanation on how to establish and improve the ESG system and management system of the enterprise. Lawyer Yang Lin mentioned that enterprises can use the main contents and requirements of the IFRS Sustainable Disclosure Standards issued by the ISSB as a guide for the construction of the ESG system.
Finally, Lawyer Yang Lin concluded that the standards and norms of environmental social, and governance have become a necessary condition for international investors and financial institutions to provide financing, and many countries have also incorporated ESG in laws, regulations and regulatory requirements, whether it is access or business process, they are facing the challenge of legality and compliance in ESG. In this context, Chinese enterprises should incorporate ESG management into the company’s long-term development strategy as soon as possible, improve their ESG management performance, and make ESG better serve the long-term sustainable development of enterprises. After her speech, Lawyer Yang Lin shared her views on how to practice the ESG concept at the project management level and how to deal with the differences in ESG compliance standards in different countries.
Through this activity, Lawyer Yang Lin systematically sorted out ESG-related topics and deepened the audience’s understanding of the importance of ESG system construction. Yingke Law Firm will continue to deepen in ESG field, relying on its global legal service network and professional partners covering 89 countries to provide enterprises with professional and efficient legal services in the field of ESG and help enterprises achieve sustainable development.