Shanghai, Oct 17, 2024 — Financial conglomerate CITIC Group has unveiled a new initiative aimed at enhancing green cooperation and promoting sustainable development, in collaboration with 13 international business partners. This announcement was made during the 2024 ESG Global Leaders Conference, taking place from October 16 to 18 in Shanghai, where CITIC Group played a key organizing role.
The initiative brings together major multinational entities, including Ivanhoe Capital Corporation of Canada, CBMM from Brazil, and Thailand’s CP Group, among others. The focus is on fostering responsible corporate practices, advancing green and low-carbon technologies, enhancing social welfare, and establishing a robust international ESG governance framework.
Zhang Wenwu, general manager of CITIC Group, emphasized the commitment to bolster international cooperation in ESG by prioritizing green finance, green industries, and social initiatives, while also advancing significant projects.
In addition, CITIC Group has formalized partnerships through cooperation agreements with Kazakhstan’s sovereign wealth fund, Samruk-Kazyna JSC, and Japan’s UACJ Group, aiming to strengthen collaborations between Chinese and foreign companies with a focus on sustainability.
CITIC Construction, a subsidiary of CITIC Group, also announced engineering agreements worth $5.6 billion with Uzbekistan and Saudi Arabia to support infrastructure projects in highways, healthcare, and agriculture as part of the Belt and Road Initiative.
Olivier Desmarais, chairman of the Canada China Business Council, highlighted China’s leading role in green and low-carbon initiatives and called for enhanced cooperation between China and Canada to tackle global challenges like climate change.
This initiative marks a significant step for CITIC Group and its partners as they aim to lead the way in sustainable business practices globally.