On December 18, the 2024 Fortune ESG Summit, themed "Value Reconstruction: Strategies and Practices", was held in Fuzhou, bringing together over 200 global business leaders, policymakers, and academics. The summit featured in-depth discussions on the ESG practices of multinational corporations, the enduring competitiveness of the new energy sector, and the risk management for overseas enterprises. As a listed company on the 2024 Fortune China ESG Impact List, Tongwei Co., Ltd. was honored to participate in this prestigious event.

2024 Fortune ESG Summit

Dr. Zhu Zihan, Head of Sustainable Development at Tongwei Co., Ltd., joined a roundtable discussion titled "Farewell to Price Wars: Lasting Competitiveness of the New Energy Industry." Dr. Zhu underscored the industry's complex evolution, transitioning from an unstructured inception to a more organized and regulated growth phase. He emphasized that competition, as an intrinsic feature of market dynamics, inevitably introduces challenges that, while often unwelcome, are essential to navigate and overcome. Innovation remains central to addressing challenges, and ESG plays a pivotal role in reshaping traditional innovation frameworks by introducing novel dimensions for differentiated strategic approaches, thereby enabling enterprises to achieve significant milestones. Within the context of global energy transitions and China's "dual carbon" objectives, China's PV industry in China remains in its developmental phase and continues to experience growing challenges. ESG is conceptualized as a critical catalyst, analogous to a "vitamin," that facilitates the industry's sustainable and robust growth.

Dr. Zhu Zihan, Head of Sustainable Development at Tongwei Co., Ltd., participates in the roundtable discussion

During the discussion, Dr. Zhu Zihan provided a detailed account of Tongwei's sustainable development practices, emphasizing that these initiatives are driven not only by the need to meet external demands but also by the intrinsic requirements of the company's own strategic development. Tongwei recognizes that the future of ESG development for Chinese companies lies not in isolated, aimless efforts but in the collaborative establishment of standards that reflect China's unique context and resonate globally. This requires a unified industry effort and multi-stakeholder collaboration to build a comprehensive ESG ecosystem. In line with this vision, Tongwei has introduced its sustainable strategic concept, "Together to Win," which emphasizes deep, practical engagement with all stakeholders. As part of this initiative, Tongwei, under the guidance of the United Nations Development Programme (UNDP), hosted sustainable development directors from 20 listed companies this year for in-depth discussions on the principles and practices of sustainable development and ESG.

At the summit, a highlight was the certificate-awarding ceremony for the companies featured on the 2024 Fortune China ESG Impact List. Tongwei earned this prestigious recognition for the second consecutive year, a testament to its exemplary ESG practices across areas such as sustainable governance, climate action, technological innovation, sustainable supply chain management, and employee development.

Certificate-awarding Ceremony

As a large multinational company deeply engaged in green agriculture and green energy, Tongwei has consistently upheld its corporate vision of "For a Better Life," with sustainability as the cornerstone of its operations, contributing to the global green, sustainable development cause. Looking ahead, Tongwei will be steadfast in its commitment to advancing its "Together to Win" strategy. The company will continue to pioneer innovative ESG disclosure and management models, foster industry-wide collaboration for a better life, and contribute to creating a sustainable and harmonious future where humanity and nature thrive together.