Key facts
- Chinese mining companies are increasing their emphasis on environmental, social, and governance (ESG) standards.
- Major Western markets are reportedly reducing their focus on ESG.
- China and emerging economies in Africa and Latin America are increasing their ESG commitments.
- The remarks were made by Xie Xionghui, executive director and executive vice president of Zijin Mining Group Co. Ltd.
Chinese mining companies are placing a heightened emphasis on environmental, social, and governance (ESG) standards, a trend that contrasts with a cooling enthusiasm for such criteria in Western markets, according to a senior executive at Zijin Mining Group Co. Ltd. Xie Xionghui, who serves as executive director and executive vice president of Zijin Mining, stated that a divergence in global ESG sentiment is occurring. He noted that while major Western markets are scaling back their ESG focus, China and emerging economies in regions like Africa and Latin America are strengthening their commitments. Xie shared these observations with reporters on September 3rd during the United Nations Global Compact summit held in Singapore.