环境、社会和治理（ESG）倡议得到了研究的支持1，旨在提升公司的财务绩效与发展潜力。在经济低迷的时期，绩效对于维持竞争力尤为重要，ESG则成为推动一系列内部和外部效益的关键动力。
Environmental, Social and Governance (ESG) initiatives have been supported by research1 to improve financial performance and growth of companies. In economic headwinds, performance is essential to remain competitive and ESG becomes a driving force for a cascade of internal and external benefits.
ESG战略层面的整合是推动组织创造价值的关键。对2009年至2021年间中国上市公司的样本进行研究发现，ESG绩效对可持续增长率（SGR）和盈利能力有积极影响2。SGR是作为衡量企业在无外部融资支持下，仅凭现有运营及财务条件实现收入增长的关键指标。因此，对于那些因财务结构而受到限制的公司而言，ESG倡议将无疑使其能够从更广泛的资源维度出发，来评估业务决策。
ESG integration at a strategic level is key at driving value through the organisation. A sample of Chinese listed companies from 2009 to 2021, finds that ESG performance has a positive impact on having a sustainable growth rate (SGR) and profitability2. SGR is a critical indicator that defines a company’s ability to achieve growth in revenue based on current operational and financial constraints without external financing. So, for companies that are constrained with their current financial structure, ESG initiatives will certainly provide an excuse to evaluate business decisions with a heighten resourceful lens.
随着全球法规的不断增多，以及投资者对ESG议题的日益关注，那些迟迟未实施ESG倡议的公司正逐渐错失创造早期价值的宝贵机会。越来越多的企业转向以ESG为重点的商业模式，这使它们在财务绩效方面取得优势。在全球贸易领域，对不断变化的风险和排放监管的敏感度日益增强，这些因素都可能对能源成本产生影响。对于那些碳密集型行业而言，这种影响可能直接反映在其财务报表上。因此，提前采取行动不仅有助于优化资产负债表，更能在激烈的市场竞争中占据有利地位。
With increasing global regulations and to some extent incentivised by investors as well, companies that are postponing their ESG initiatives are missing on opportunities to create value earlier. The rise in volume of enterprises moving towards ESG focused commerce provides them an edge in financial performance. The arena of global trade is more sensitive with shifting risks and regulatory responses to emissions will likely affect energy costs. This could especially affect the financial statements in carbon-intense industries, getting ahead not only make balance sheet sense but also competitiveness too.
关于ESG的考量，包括将ESG因素纳入投资和财务决策过程，能更有效地识别机会和管理风险。以下是提高企业绩效的几种方法。
ESG considerations involves integrating ESG factors into investment and finance decision-making processes to identify opportunities and manage risks more effectively. Here are several ways to enhance enterprise performance.
(1) 降低成本
(1) Cost Reduction
审查成本中心将重点放在消除浪费、简化供应链和培养创新文化，积极倡导改进现有流程以实现优化。此外，包括价值链分析在内的流程优化措施确定了精简化运营的机会，以提高生产率及最大限度减少资源消耗。这可能涉及采用先进的流程控制系统、预测性维护技术和数据分析，以优化设备性能和资源利用率。这将在整个运营过程中形成可持续的做法，随着时间的推移，有助于大幅节约成本，增强对资源价格波动的抵御能力。
Reviewing cost centres will emphasise the elimination of waste, simplifying supply chains and cultivating an innovative culture that proactively advocates improving existing processes to achieve optimisation. Furthermore, process optimisation initiatives including value chain analysis, which identify opportunities to streamline operations, increase productivity, and minimize resource consumption. This may involve the adoption of advanced process control systems, predictive maintenance technologies, and data analytics to optimize equipment performance and resource utilization. These will lead to sustainable practices across operations which contribute to significant cost savings over time developing more resilience to fluctuations in resource prices.
案例分析
Case Study
一家全球领先的零售公司在其所有门店实施了创新的屋顶太阳能电池板系统，以减少能源消耗和温室气体排放。通过利用太阳能技术，该公司不仅减少了对环境的影响，还大大节省了电费开支，从而提高了成本中心的绩效。
A leading worldwide retail company implemented an innovative rooftop solar panel system across its stores to reduce energy consumption and greenhouse gas emissions. By leveraging solar technology, the company not only decreased its environmental footprint but also achieved significant cost savings in electricity expenses, thereby improving cost centre performance.
(2) 优化投资和资本支出
(2) Optimizing Investments and Capital Expenditures
通过将ESG纳入资本分配战略，企业可以确保资源得到有效配置，并与长期可持续发展目标保持一致。这不仅有助于降低高碳排放资产或因环境或社会因素而过时的投资的风险，还能释放新兴可持续技术和商业模式的机遇。例如，投资能源管理系统、节能设备和实施回收计划，可以减少与燃料消耗3、公用设施和废物管理相关的开支。
By integrating ESG considerations into their capital allocation strategies, companies can ensure that resources are deployed effectively and in alignment with long-term sustainability objectives. This not only helps mitigate the risk of high carbon emission assets or investments that may become obsolete due to environmental or social factors but also unlocks opportunities in emerging sustainable technologies and business models. For example, investing in energy management system, energy-efficient equipment and implementing recycling programs can reduce expenses associated with fuel consumption3, utilities and waste management.
案例分析
Case Study
一家全球排名前三的能源公司在其所有业务中实施了节能措施，以减少能源消耗和降低运营成本。其中包括投资热电联产系统、热电联产（CHP）工厂和节能设备等先进技术，以优化炼油、石化和制造过程中的能源使用。通过提高能源效率，该公司旨在最大限度地减少温室气体排放，提高成本竞争力。
A top 3 worldwide energy company has implemented energy efficiency measures across its operations to reduce energy consumption and lower operational costs. This includes investments in advanced technologies, such as cogeneration systems, combined heat and power (CHP) plants, and energy-efficient equipment, to optimize energy usage in refining, petrochemical, and manufacturing processes. By improving energy efficiency, the company aims to minimize greenhouse gas emissions and enhance cost competitiveness.
(3) 提高员工生产力
(3) Enhancing Employee Productivity
在严峻的劳动力市场中，通常有大量的候选人可供选择。虽然很少看到员工只根据公司的 ESG 评级来选择公司，但无论如何，大多数员工都会优先考虑那些深入关注员工福祉及公司周边环境，培养积极的企业文化进而提高员工满意度、参与度和生产力的公司。反过来，这又可以转化为运营效率的提高、客户服务的改善和创新能力的增强——所有这些都有助于持续盈利和公司发展。
In tough labour markets, there is usually ample candidates to select from. Although it’s rare to see employees select a company solely based on their ESG rating, anyhow, most of them prioritize companies that pay deep attention to employee well-being and its surrounding, foster a positive corporate culture which increases employee satisfaction, engagement, and productivity. This, in turn, can translate into improved operational efficiency, better customer service, and enhanced innovation – all of which contribute to sustained profitability and growth.
案例分析
Case Study
上文提到的同一家零售公司对其整个供应链中供应商的工作条件进行监控，包括那些在中国拥有大量工厂的供应商。通过使用专门的评分卡来确保符合其ESG标准，该公司提高了员工的福利、积极性和生产率，更快乐的员工对业务的影响能提高13% 4。
The same retail company monitors the working conditions of its suppliers throughout their supply chain, including those with extensive factory floors in China. By using a proprietary scorecard to ensure alignment with its ESG standards, it improves the well-being of employees, motivations and productivity. Happier employees yield greater impact on the business by 13% 4.
(4) 缓解风险
(4) Risk Mitigation
ESG投资可提供下行保护，尤其是在社会或经济危机期间。 根据《可持续金融与投资杂志》5上发表的一项研究，具有良好可持续发展实践的公司表现出更好的风险管理水平，从而降低了运营和监管风险。
ESG investing has shown to provide downside protection, especially during a social or economic crisis. According to a study published in the Journal of Sustainable Finance & Investment 5, companies with strong sustainability practices exhibit better risk management, resulting in reduced operational and regulatory risks.
案例分析
Case Study
丹麦一家专门从事海上风电场开发、太阳能和能源储存解决方案的跨国可再生能源公司，在整个运营过程中实施严格的ESG治理，包括严格的环境风险、运营和监管风险评估。这些预防措施降低了运营和监管风险，提高了财务表现6。
A Danish multinational renewable energy company specializing in offshore wind farm development, solar energy, and energy storage solutions. They implement robust ESG governance with practices throughout its operations, including stringent environmental risk, operational and regulatory risk assessments. These preventative measures, result in reduced operational and regulatory risks and financial performance6.
克服挑战，把握机遇
Overcoming Challenges and Leveraging Opportunities
虽然整合ESG有潜在的巨大回报，但公司在这个过程中可能面临各种挑战。这些挑战包括：
While the potential rewards of ESG integration are significant, companies may face various challenges in their ESG journeys. These can include:
| 挑战 | 机遇 |
| 数据的可得性和质量 | 确保获取可靠、连贯的 ESG 数据用于决策和报告。通过洞察数据和软件，可以识别关键风险和机遇，量化潜在影响，并制定基于实际行动计划的目标 |
| 平衡短期和长期优先事项 | 协调ESG投资的潜在短期成本与其长期价值创造潜力 |
| 协调利益相关方 | 使各利益相关方之间有时存在分歧的利益和期望保持一致，以实现协同效应和有价值的沟通 |
| 监管的复杂性 | 与多个司法管辖区快速发展的 ESG 法规和报告要求保持同步，将确保更好的声誉、品牌及获得投资者机会 |
| Challenge | Opportunity |
| Data availability and quality | Ensuring access to reliable and consistent ESG data for decision-making and reporting purposes. By deriving insights from data and software, it’s possible to identify key risks and opportunities, quantifying potential impact, and setting targets grounded in a realistic action plan. |
| Balancing short-term and long-term priorities | Reconcile the potential short-term costs of ESG investments with their long-term value creation potential. |
| Stakeholder alignment | Align the sometimes divergent interests and expectations of various stakeholder groups for synergies and valuable communication. |
| Regulatory complexity | By keeping pace with rapidly evolving ESG regulations and reporting requirements across multiple jurisdictions, will ensure better reputation, branding and investor opportunities. |
为了克服这些挑战，企业必须采取战略性和积极主动的方法，促进跨职能协作，利用技术解决方案进行数据管理和分析，并积极与行业协会、监管机构和专业领域专家进行合作。
To overcome these challenges, companies must adopt a strategic and proactive approach, fostering cross-functional collaboration, leveraging technological solutions for data management and analysis, and actively engaging with industry associations, regulatory bodies, and subject matter experts.
结论
Conclusion
ESG原则的战略整合远非简单的合规成本，而是业绩和盈利能力的强大驱动力。将ESG有效融入其核心业务战略和运营的公司可以获得价值的提升，同时为环境和社会的可持续发展做出贡献。
Far from being simply a compliance cost, strategic integration of ESG principles can be a powerful driver of performance and profitability. Companies that effectively embed ESG into their core business strategies and operations can access a value increasing through their organisation while contributing to environmental and social sustainability.
CNEUCN 的ESG解决方案服务认为，企业可以通过提高运营效率、采用可持续措施以及健全的降低风险的管理框架，在竞争激烈的经济环境中取得长期成功。
CNEUCN ESG solutions services reports that by improving operational efficiency, embracing sustainable practices, and reducing risks through robust risk management frameworks, companies can position themselves for long-term success in this competitive economic environment.
启动碳中和评估，是确保企业商务战略与可持续发展目标紧密相连，并为企业及整个社会创造积极价值的关键举措。此刻，我们亟需采取行动，通过战略性整合ESG理念，企业可以为构建更加光明、繁荣的未来奠定坚实的基础。
Initiating an assessment of carbon neutrality processes represents a pivotal step towards aligning business strategies with sustainability objectives and driving positive outcomes for both the company and society at large. The time to act is now, and through strategic integration of ESG, businesses can pave the way for a brighter and more prosperous tomorrow.
参考资料：
References：
1. Do environmental, social, and governance activities improve corporate financial performance? By J Xie, W Nozawa, M Yagi, H Fujii, S Managi 2019
2. Does ESG performance indicate corporate economic sustainability? Evidence based on the sustainable growth rate. By Zihao Lin 2024
3. Efficiency Improvement and CO2 Emission Reduction Potentials in the United States Petroleum Refining Industry by B. Khezri, M.Najafpour,2018
4. Oxford University’s Saïd Business School: https://www.ox.ac.uk/news/2019-10-24-happy-workers-are-13-more-productive
5. The Impact of Corporate Sustainability on Organizational Processes and Performance by R. Eccles, L. Loannou, & G.Serafeim, 2014
6. Corporate Sustainability and Shareholder Wealth” by George Serafeim and Ioannis Ioannou (2012)
如想了解更多碳中和相关内容，请联系: [email protected]
For more information about carbon neutrality, please write to: [email protected]
仲欧脱碳科技有限公司中欧碳中和可持续城市发展平台项目将由为此项目成立的同名私营公司运营，旨在通过聚集各方优势，针对每一个课题制定出量身打造的解决方案，以全面和包容的工作方式为中国和欧洲的碳中和之路添砖加瓦。
仲欧脱碳科技 有限公司该平台将发挥积极和创新的作用，为实现碳中和所需的构想、塑造、设计和实现转型提供服务。
China Europe Carbon Neutral Technology aims to support and substantially contribute to China and Europe path towards carbon neutrality in a holistic and inclusive way by gathering all the stakeholders and creating solutions for each challenge.
China Europe Carbon Neutral Technology will play an active and innovative role in providing services to conceive, shape, design and accomplish the transitions needed to achieve carbon neutrality.
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