FOREIGN companies in China released 126 corporate social responsibility reports in the first 10 months of this year, up 28.6 percent from the same period of last year, according to data from China WTO Tribune.
Companies now find CSR as a vital tool to enhance their reputation in the marketplace. They also consider CSR as a strategy which could help develop their business in tandem with China’s economic development.
“In the process of China’s development, CSR has become an important part of the localization of foreign enterprises,” Li Ling, vice chairman of China Association of Enterprises with Foreign Investment, said at the 9th International Conference on CSR Reporting in China, organized by China WTO Tribune and China Business Council for Sustainable Development and held in Shanghai yesterday.
“In order to better fulfill their social responsibilities, many foreign-invested enterprises have integrated their own development strategies with China’s macro-economic development strategies by leveraging their own professional advantages. The economic and social benefits result in a win-win situation,” Li said.
German leading retailer METRO Group is an example of combining its own economic interests with the social benefits by applying new technologies in their stores.
The company plans to invest more in green technology next year by revamping its three stores in Shanghai into “environmental friendly stores.”
The stores, located in Putuo District, Minhang District and Pudong New Area, will apply a series of new technologies to save energy, including photovoltaic power generation, CO2 cooling system and etc.
The revamp, expected to be completed by 2017, can reduce more than 30 percent of the total energy consumption to promote.
This article was taken from here.