Recently, the "Beijing FinTech Industry Alliance's pilot project for standardized ESG data evaluation services in the financial sector", recommended by the Beijing Municipal Administration for Market Regulation, has settled in Beijing as the first domestic pilot project focusing on ESG data evaluation services in the financial sector.

ESG (Environmental, Social, and Governance) refers to evaluating the sustainability of business operations and their impact on societal values from three dimensions: environmental, social, and governance. The ESG concept emphasizes that companies should focus on ecological environmental protection, fulfill social responsibilities, and improve governance levels. Implementing the ESG concept is of great significance for promoting national strategies and achieving sustainable development.

The construction of pilot projects will promote the formation of an ESG service ecosystem, facilitate resource sharing and optimization, promote market innovation and scale expansion, facilitate the sharing of risks among relevant parties and crisis response, and provide support for Beijing to build a green finance hub and develop a global green finance and sustainable finance center.

(Source: The Beijing News)