Chiyu Fujian-Hong Kong ESG Index Report

Background

Chiyu Banking Corporation Limited (Chiyu Bank) and CECEP Environmental Consulting Group Limited (CECEPEC) jointly launched the first ESG index in the market with the theme of sustainable development in Fujian Province and Hong Kong—the Chiyu Fujian-Hong Kong ESG Index. This index, through a scientific evaluation system and public data, tracks the performance of Fujian Province, Fujian-based enterprises, and overseas Chinese Fujian enterprises in environmental, social, and corporate governance (ESG) aspects since 2019. It also evaluates the cooperative exchanges in the field of sustainable development between Fujian Province and Hong Kong.

Rigorous and Scientific Index System Propels Fujian Province towards New Heights of Sustainable Development

Fujian Province (abbreviated as "Min") is located on the southeast coast of China, with abundant natural resources. Over the past few years, Fujian Province has demonstrated consistent economic and social progress. As a renowned hometown of overseas Chinese, Fujian Province plays a critical role in facilitating communication between mainland China and overseas, particularly Hong Kong, Macau, and Taiwan. For instance, in the case of Hong Kong, financial and trade cooperation with Fujian has been a focal point, extending subsequently to environmental and social-related sustainable development issues. Consequently, Chiyu Bank and CECEPEC have conducted research on publicly available data from Fujian Province and the Fujian-Hong Kong region, establishing a rigorous and scientific evaluation system. This evaluation system incorporates multiple key indicators and culminates in the creation of the Chiyu Fujian-Hong Kong ESG Index. The index serves as an unbiased reflection of the sustainable development progress in both places, offering valuable guidance for shaping the sustainable development strategy of the area and further promoting long-term sustainable development in the region. Additionally, this research also includes the Overseas Chinese Fujian Enterprise ESG Index, evaluating the ESG and sustainability performance of Fujian enterprises that display "Overseas Chinese" characteristics. providing the market with an understanding of the differences in ESG performance between overseas Chinese Fujian enterprises and the overall Fujian enterprises.

Index Base Period & Update Frequency

Fujian Province Sustainable Development Index & Fujian-Hong Kong Cooperation Sustainable Development Index Base Period: The base period is the first half of 2019. The evaluation covers nine half-year periods, from 1H 2019 to 1H 2023. Update Frequency: Updated semi-annually. Fujian Enterprise ESG Index Base Period: The base period is the first half of 2019. Update Frequency: Updated annually during the first half of each year.

Chiyu Fujian-Hong Kong ESG Index

The Chiyu Fujian-Hong Kong ESG Index ("Main Index") comprised three sub indices, namely the Fujian Province Sustainable Development Index, the Fujian-Hong Kong Cooperation Sustainable Development Index, and the Fujian Enterprise ESG Index. In addition, the "Overseas Chinese Fujian Enterprise ESG Index" evaluated the ESG and sustainability performance of Fujian enterprises that display "Overseas Chinese" characteristics.

Fujian Province Sustainable Development Index

The Index comprised 4 first-level indicators, including Environmental Performance and Resource Management, Economic Development, Social Development and Livelihood and Sustainable Finance, along with up to 30 second-level indicators. It represents the level of sustainable development achieved by Fujian Province during the specified base period.

Fujian-Hong Kong Cooperation Sustainable Development Index

The Index comprised 3 first-level indicators, including Supportive Policies for Sustainable Development, Exchange Activities for Sustainable Development and Financial, Economic and Trade Cooperation, along with 12 second-level indicators. It reflects the current status and development of cooperation between Fujian Province and Hong Kong in promoting sustainable development.

Fujian Enterprise ESG Index & Overseas Chinese Fujian Enterprise ESG Index

The Index comprised 3 first-level indicators, including Environment, Social and Corporate Governance, along with 12 second-level indicators. It reflects the province's level of sustainable development and capability, providing directional guidance for future ESG development of Fujian enterprises by assessing the ESG performance of listed companies in Fujian. Additionally, an Overseas Chinese Fujian Enterprises ESG Index has been established to help the market understand the differences in ESG performance between overseas Chinese Fujian enterprises and the overall Fujian enterprises.

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