CHINA Chinese companies fulfill CSR mandate in B&R countries: report

CHINA

Chinese companies fulfill CSR mandate in B&R countries: report

Global Times

19:06, September 21, 2018

With helping to drive Kenya's economic growth, China Communications Construction Company (CCCC) has also effectively fulfilled its corporate social responsibility (CSR) mandate by training talents and protecting local employees' right, a new report shows.

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(Photo: VCG)

Through the construction of the Kenyan Mombasa-Nairobi Standard Gauge Railway Project, CCCC has not only helped Kenya improve transport efficiency and reduce logistic costs, but has also attached great importance to respecting and protecting local employees' rights, said the second issue of EY's Navigator report released on Friday.

By 2017, Mombasa-Nairobi Railway Project had trained more than 18,000 technical and management talents and 2,000 railway-related talents, and sponsored 100 Kenyans to get undergraduate education in railway subject in China, according to EY statistics.

EY believes that Chinese companies involved in the BRI have taken measures to balance economic, environmental and social benefits in the host countries in the past five years.

Chinese enterprises' commitment to CSR can help reduce investment risks, enhance global influence and competitiveness along the B&R and establish an accountable corporate image, the report said.

"Under the impetus of the BRI, more and more Chinese companies will not only focus on economic returns, but also adjust themselves to local conditions, and strive to improve local economy, society and people's livelihood and achieve coordinated development of different countries," said Loletta Chow, global leader of the EY China Overseas Investment Network and EY B&R Taskforce Leader. 

"Looking forward, China will continue proving to the world that the initiative maintains its commitment to building and improving a more open and inclusive better world," Chow said.

Nearly 90 percent of Chinese companies listed among the 2018 Fortune Global 500 list disclose corporate social responsibility performance on a regular basis, according to EY statistics. In addition, among over 3,460 companies listed on the A share market, about 800 companies make CSR disclosure, representing nearly a quarter of the total.

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