First ESG Report of China's Liquor Industry has been Released

Consumer Staples Author: Muriel Meng Editor: Mingmin Zhang Nov 27, 2023 12:10 PM (GMT+8)

The social responsibility of wine companies has become a key driver for China's liquor industry to show a new image.


The ESG concept put forward by the United Nations Global Compact (UNGC) in 2004 has not only attracted widespread attention globally, but has also become a strategic tool of great strategic significance in China to promote green transformation and achieve the goals of carbon peaking and carbon neutrality.

China's liquor industry, as an important part of China's traditional industries, is actively responding to the ESG concept and committing itself to building a new industrial ecology, injecting new vitality into the high-quality development of the economy and the construction of ecological civilization. Especially under the impact of the new crown epidemic, China's liquor industry has demonstrated its firm conviction and determination to actively innovate, and has realized the industry's counter-trend boost through various efforts such as supply-side structural reforms, technological innovations, and digital transformation of the industry.

From a macro perspective, under the guidance and promotion of the ESG concept, China's alcoholic beverage industry is targeting the growing needs of the people and the upgrading market demand. It has focused its efforts on industrial scale, industrial competitiveness and industrial concentration, accelerating the formation of a more diverse industrial development pattern. After sustained in-depth adjustments, China's liquor industry has entered a stage of restorative growth with a steady pace of development and continuous optimization of the industrial structure and product quality.

The application of ESG concepts in China's liquor industry is not only reflected at the economic level, but also plays an active role in promoting the practice of social responsibility. As a national industry organization, the China Alcoholic Drinks Association (CADA) has continued to enhance the social credibility and ability to fulfill social responsibility of alcoholic beverage enterprises through the establishment of the Alcoholic Beverage and Social Responsibility Promotion Committee and the ESG standard system of China's alcoholic beverage industry. It has also make efforts to formulate the standards of "China's Alcoholic Beverage Industry ESG Disclosure Guideline" and "China's Alcoholic Beverage Industry ESG Evaluation Guideline", and the holding of a series of activities of the National Rational Drinking Awareness Week for the past eight years. It has organized a series of activities such as the National Rational Drinking Awareness Week for eight consecutive years, in order to continuously enhance the social credibility of alcohol enterprises and their ability to fulfill their social responsibility, and lay a good foundation for the high-quality development of China's liquor industry.

This year, China liquor industry Association not only organized the compilation and release of the first "China liquor industry ESG Development Report (2022)", which comprehensively sorted out the work and achievements of the liquor industry in fulfilling its social responsibility in 2022, but also introduced the concept of ESG for the first time in the industry, and formed a whole set of systematic methodology with operability. This will strongly promote the liquor industry to move in a greener and more sustainable direction, accelerate industrial restructuring, promote brand cultivation, realize cultural popularization, and contribute more to the high-quality economic development of China.

Overall, although ESG in China's liquor industry is in the primary stage of development, more and more industry leading companies have paid more attention to ESG concepts and emphasized ESG practices. The release of the ESG Development Report of China's Liquor Industry (2022) will promote the green development of the liquor industry and help China's liquor industry move forward in the wave of global sustainable development.