On November 21, the Beijing International Sustainability Conference 2024 was successfully held in Beijing, hosted by the International Financial Reporting Standards (IFRS) Foundation’s International Sustainability Standards Board (ISSB) and co-organized by CRRC Group Ltd. The event was supported by China Construction Bank, China Central Depository & Clearing Co., Ltd., and several other enterprises and media organizations.
Under the theme “Convergence and Innovation: Advancing Toward Global Standards,” the conference explored the significance of Scope 3 emissions disclosure for businesses and the critical role of leading enterprises in driving value chain transformation. The event featured keynote speeches from Peng Huagang, President of the China Enterprise Reform and Development Society and former Secretary-General of SASAC; Emmanuel Faber, Chair of the ISSB; and Ayla Majid, President of the Association of Chartered Certified Accountants (ACCA). The conference attracted nearly 200 in-person participants and over 5 million online viewers worldwide. CRRC President Ma Yunshuang, Vice President Wang Feng, senior executives from CRRC headquarters, and key subsidiary leaders were invited to attend the event.
CRRC’s Commitment to ESG: Leading the Way in Sustainable Development
In his keynote speech, titled “Converging Innovation, Advancing Sustainability: Implementing CRRC’s Unique ESG Practices,” Ma Yunshuang shared CRRC’s experience in adopting ISSB standards and its broader ESG strategies. He emphasized that CRRC strongly aligns with ISSB’s principles and actively promotes these standards among its supply chain and industry partners to expand the global reach of sustainability disclosures. CRRC continuously integrates international benchmarks with its own innovative practices, demonstrating its commitment to sustainable development.
Ma emphasized that CRRC remains committed to pioneering green and low-carbon technologies, ensuring that sustainability is embedded in its business strategy. The company is implementing its “Dual-Carbon” action plan, leveraging technological innovation to drive industrial transformation. By advancing rail transit and clean energy equipment, CRRC aims to provide the world with smarter, greener solutions that contribute to global sustainability efforts.
Beyond technological advancements, Ma highlighted CRRC’s commitment to fostering a more inclusive and sustainable value chain. Upholding its mission to “Connect the World, Benefit All Human Beings”, the company continues to enhance global mobility and actively support high-quality Belt and Road Initiative (BRI) projects. With a focus on localization, CRRC has developed a business model that integrates localized manufacturing, procurement, employment, maintenance, and management, ensuring that its operations contribute to regional economic growth. In its international markets, the company takes on multiple roles—not only as a provider of advanced rail technology but also as a cultural ambassador, a talent incubator, an industry accelerator, and an engaged community partner.
At the core of CRRC’s sustainability approach is a commitment to strong corporate governance, with transparency and efficiency serving as key pillars. As a dual-listed company on the A-share and H-share markets, CRRC aligns its governance practices with international standards and continuously improves its ESG disclosure. Ma noted that the company has taken significant steps to enhance information transparency, ensuring that its sustainability efforts are clearly communicated to stakeholders. By integrating ESG ratings and reporting mechanisms into its governance structure, CRRC aims to maintain the highest standards of compliance while strengthening investor confidence.
Closing his speech, Ma emphasized that the adoption of ISSB standards plays a critical role in improving sustainability reporting and enhancing global market transparency. Under a unified framework of international ESG principles, CRRC will continue to drive innovation in sustainable business practices, with a focus on delivering world-class rail solutions, maintaining ethical and transparent corporate governance, and making meaningful contributions to society. As the company looks ahead, it remains committed to translating past achievements into future progress, embracing global sustainability trends, and contributing to the long-term development of the rail transportation industry.
