In order to strengthen employees’ understanding of ESG (Environmental, Social and Governance) new guidelines and comprehensively promote the company’s legal compliance operation. On June 19, COSCO SHIPPING International Hong Kong invited Mr. He Zhiquan, Climate Change and Sustainable Development Service Partnership of Ernst & Young to conduct ESG training for the company.

The Hong Kong Stock Exchange issued a consultation paper on the review of the Environmental, Social and Governance Reporting Guidelines (ESG Guidelines) in May this year. A number of mandatory requirements will be added like ESG governance and risk management, ESG reporting principles and disclosure requirements. It will comprehensively enhance the compliance standards of Hong Kong listed companies’ ESG reports. If the revised proposal is approved, the new guidelines will come into effect in January 2020.

In order to help COSCO SHIPPING International Hong Kong prepare for the new guidelines as soon as possible, Mr. He Zhiquan used his years of experience in the industry, combined with the company’s real situation and gave a lecture based on COSCO SHIPPING International 2018 ESG report feedback, ESG guidelines introduction and latest requirements.

Mr. He Zhiquan pointed out that the new guidelines place higher demands on the role of board’s leadership and governance structure for ESG. The capital market pays more attention to sustainable development issues and corporate sustainability. Regulators and rating agencies also encourage companies to be more active to disclose information about climate change risks. He also gave some suggestions on COSCO SHIPPING International’s current ESG.

The training was hosted by Mr. Liu Gang, the deputy general manager of COSCO SHIPPING International Hong Kong, and Mr. Zhu Jianhui, the managing director, Mr. Wang Wei and Mr. Zhou Liliang, the deputy general manager and more than 40 employees from various departments attended the training.