The story of China’s journey from a centrally planned to a market-oriented economy is now familiar to all. Yet while the norms of doing business in China are becoming ever more understood, the most populous country in the world still retains the capacity to surprise. It may challenge conventional assumptions, but the number of organizations in China that disclose information about their economic, environmental, social and governance performance and impact in an open and transparent way is growing. And it is growing fast.
China will soon, by some indicators, have more companies publishing sustainability reports than any other country, with the figure for the last 12 months alone standing at over 1 700. But why has China the potential to become a leader in what was once an almost exclusively European and North American pursuit? The answer is simple, and it is not just down to the size of the economy. Institutions and actors in China increasingly understand the sheer extent of the environmental, social and political realities that all states face. The status quo is untenable, and pressures such as resource scarcity and energy demands, together with the fight against corruption, are all shaping Chinese thinking and policy-making. In short, growth and business must be made sustainable, and that means action.
See full Press Release: How 'green' data is making China more transparent | Forum:Blog Forum:Blog | The World Economic Forum
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