[Table_ReportDate] 2025 年 06 月 28 日 GRI 发布符合全球气候目标的气候与能源报告标准 [Table_Industry] ESG 周报 证券研究报告 行业研究 [Table_ReportType] 行业周报 [Table_StockAndRank] ESG 投资评级 —— 上次评级 —— [Table_Author] [Table_Author] 左前明 能源行业首席分析师 执业编号：S1500518070001 联系电话：010-83326712 邮 箱：zuoqianming@cindasc.com 郭雪 环保联席首席分析师 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com 吴柏莹 环保行业分析师 执业编号：S1500524100001 邮 箱：wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] GRI 发布符合全球气候目标的气候与能源报告标准 [Table_ReportDat ...

Core Viewpoint - The sustainable development has become a crucial requirement for automotive companies, not just an additional topic, as they navigate the global green transition [1] Group 1: Sustainable Development Initiatives - BMW's 2024 sustainability report highlights significant achievements in green transformation, including commitments from approximately 200 local suppliers to use renewable energy, resulting in a reduction of about 1 million tons of carbon emissions compared to 2019 [1][4] - The company has made breakthroughs in material innovation, successfully applying new bio-based composite nylon materials in the BMW X3 model and exploring the use of tea leaves for new bio-based materials [1][3] - BMW aims to enhance the use of recycled materials, planning to increase the proportion of recycled aluminum in new model wheels to 70%-75% to further reduce carbon footprint [3][5] Group 2: High-Quality Development Strategies - BMW's core experiences in high-quality development include focusing on core technologies for R&D, adhering to strict product testing, and continuously improving a "smart, efficient, low-carbon" production system [2] - The company emphasizes the importance of collaboration across the entire value chain to achieve sustainable development, with a focus on long-term value creation and innovation [1][4] Group 3: Circular Economy and Resource Efficiency - BMW has implemented effective water resource management, reducing water consumption per vehicle to 1.57 cubic meters and achieving a total recycled water usage of 400,000 cubic meters [5] - The company has achieved zero landfill waste at its Shenyang plant and is actively collaborating with local partners to integrate renewable energy and circular economy practices throughout its value chain [5][4] Group 4: Future Outlook - BMW is committed to leading the transition to sustainable mobility, with the upcoming "New Generation" models set to enhance vehicle efficiency by 20%, charging speed by 30%, and range by 30% [3][6] - The company envisions future mobility as a harmonious coexistence of people, society, and nature, continuing to prioritize responsibility in its operations [6]

Core Viewpoint - China is committed to accelerating the development of a multi-faceted international human resource development cooperation system, sharing its modernization development concepts and experiences to contribute to global development and the construction of a community with a shared future for mankind [1] Group 1: Human Resource Development Cooperation - China has conducted approximately 15,000 training programs across 17 fields and over 100 specialties for more than 180 countries and organizations, training over 500,000 individuals to enhance development capabilities in various sectors [1][2] - In the Shanghai Cooperation Organization (SCO) member countries, China has completed nearly 430 aid projects and is currently implementing over 40 projects, with more than 30,000 individuals trained under human resource development initiatives [2] Group 2: Global Development and South-South Cooperation - The Global Development and South-South Cooperation Fund focuses on projects that are "small but beautiful, benefit people's livelihoods, and yield quick results," targeting areas such as poverty alleviation, food and energy security, public health, digital economy, climate change, and human resource development [2] - Over 170 projects have been implemented in more than 60 countries in collaboration with over 20 international organizations, benefiting over 30 million people and enhancing the development capabilities of recipient countries [2] Group 3: Principles of Foreign Aid - China's foreign aid adheres to principles of non-interference in internal affairs, no political conditions, and equal consultation with development partners, aiming for win-win cooperation without seeking personal gain [3] - China emphasizes the continuity and stability of its development aid policies, committed to reducing the North-South gap and supporting the accelerated development of developing countries [3]

亚投行在全球发展挑战增多的背景下，聚焦互联互通，推动开放合作，践行多边主义，有效促进了区域 乃至全球的可持续发展 作为亚投行的倡建国、重要股东、总部东道国和发展伙伴，中国始终积极支持亚投行发展壮大。中方与 亚投行合作实施了一批高质量项目，主动向发展中成员分享中国的发展经验；向亚投行项目准备特别基 金、贴息基金捐款，为低收入成员提供力所能及的支持。着眼于推动亚投行在新形势下实现新发展，中 方倡导亚投行更大力度支持成员提升发展能力，更大范围增进国际对话交流协作，更好发挥自身新型多 边平台功能。 深化全球发展合作正处于关键期，站立在新起点的亚投行应展现更大作为。中国愿同各方一道，携手支 持亚投行不断实现新发展，为促进基础设施互联互通和可持续发展、推动构建人类命运共同体作出新的 更大贡献。 （文章来源：人民日报） 亚投行最新发布的伙伴关系报告显示，截至2024年底，在亚投行投资的300多个项目中，131个是与其他 多边开发银行联合融资，彰显亚投行以开放之姿汇聚发展合力，为加强国际多边合作发挥了重要引领推 动作用。与世界银行、亚洲开发银行、伊斯兰开发银行续签谅解备忘录；积极参与二十国集团相关机 制，在全球金融治理中贡献 ...

Core Insights - Bosideng has evolved from a small operation with 8 sewing machines to a global leader in the down jacket industry over 49 years, showcasing resilience through various market challenges [2] - The company emphasizes the integration of technology and fashion, achieving a 90% automation rate in key manufacturing processes and holding over 1,600 patents [2][10] - Bosideng's brand strategy focuses on consumer trust and adapting to changing consumer demands, which is seen as the foundation of its enduring success [2][6] Brand as Core Competitiveness - The significance of brand development is highlighted as a crucial element for both corporate and national competitiveness, with Bosideng establishing its brand in 68 countries [5][6] - The company views brand value as a collaborative achievement between the enterprise and consumers, necessitating a long-term commitment to brand building [5][15] - Bosideng has maintained its position as the top-selling down jacket brand in China for 30 consecutive years, attributing this success to its strong brand identity [6] Technology and Fashion Integration - Bosideng employs a "technology + fashion" approach to enhance its brand image, responding to the diverse and sophisticated demands of modern consumers [7][8] - The company has invested in innovative product lines, including the Summit series and high-end outdoor collections, to elevate industry standards [8][10] - AI and digital technologies are being integrated into various operational aspects, enhancing efficiency and decision-making processes [9][10] Commitment to Sustainability - Bosideng has set ambitious sustainability goals, including achieving net-zero emissions by 2038, and has implemented green practices across its operations [11][12] - The company promotes a flexible supply chain model to minimize waste and carbon emissions, while also advocating for energy conservation within the industry [12][13] - Bosideng's ESG rating of AA from MSCI reflects its leadership in sustainable practices within the textile and apparel sector [13] Future Directions - The company aims to continue its global expansion while focusing on core competencies in down jackets, emphasizing the importance of brand trust and social responsibility [14][20] - Bosideng is committed to ongoing innovation and collaboration with top international designers to enhance its product offerings and brand appeal [19][20] - The narrative of Bosideng exemplifies the rise of Chinese brands in the international market, demonstrating that quality and cultural heritage can lead to global recognition [20]

Core Points - The G20 third coordination meeting concluded with significant consensus on key issues such as multilateral cooperation, climate change, debt sustainability, and social equity [1] - The meeting emphasized adherence to the principles of the United Nations Charter and international law, focusing on achieving sustainable development goals and promoting a more equitable, inclusive, and resilient global governance system [1] - The absence of the U.S. delegation raised concerns among some participants regarding global inclusive cooperation [1]

厦门象屿股份有限公司 董事会战略与可持续发展委员会实施细则 第一章 总则 第一条 为适应公司战略发展需要,确定公司可持续发展规划,完善公司治理 结构,增加公司核心竞争力，根据《中华人民共和国公司法》《上市公司治理准 则》《公司章程》及其他有关规定,公司设立董事会战略与可持续发展委员会, 并制定本实施细则。 第二条 董事会战略与可持续发展委员会（以下简称"战略委员会"）是董 事会按照股东大会决议设立的专门工作机构,主要负责对公司长期可持续发展 战略和重大投资决策进行研究并提出建议。 第三条 战略委员会可以根据工作需要制定相关管理制度，规定具体工作的 要求。 第二章 人员组成 第四条 战略委员会成员由六名董事组成,其中应至少包括一名独立董事。 第五条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一提名,并由董事会选举产生。 第六条 战略委员会设主任委员（召集人）一名,由公司董事长担任。 战略委员会设副主任委员一名，由公司副董事长担任。 第七条 战略委员会任期与董事会任期一致,委员任期届满,连选可以连任。 期间如有委员不再担任公司董事职务,自动失去委员资格,并由委员会根据上述 第三至第五条规定 ...

Core Viewpoint - The article highlights the initiatives and achievements of New Era Health Industry Group in promoting a "green ecological industrial chain" and contributing to the "Beautiful China" and "Healthy China" initiatives through sustainable practices and innovative health management services [1][4][19]. Group 1: Green Ecological Industrial Chain - New Era Health has developed a unique "green ecological industrial chain" that integrates the research and development of health products with the sustainable use of natural resources like pine, bamboo, and plum [4][5]. - The company has established 15 raw material collection bases across the country, promoting the protection of 316,000 acres of forest and farmland, generating 1.15 billion yuan in income for over 300,000 people [5]. - This industrial chain has positively impacted farmers' income, adjusted industrial structure, alleviated social employment pressure, and contributed to rural revitalization and ecological improvement [4][5]. Group 2: Sustainable Production Practices - New Era Health is the only health product manufacturing and sales enterprise in China to be recognized as a "National Green Factory" for four consecutive years, showcasing its commitment to green production methods [8]. - The company has built a comprehensive green industrial park that meets national energy-saving and environmental protection standards, featuring over 20 advanced automated production lines [8][10]. - In 2023, the company was awarded "Shandong Province Green Supply Chain Management Enterprise," reflecting its adherence to sustainable principles in supply chain management and product design [10]. Group 3: Innovation in Health Management Services - The company has introduced the "New Era Quality Products" franchise model, transforming traditional consumption into an experiential model that offers personalized health management services [12][13]. - New Era Health operates over 1,200 health management service centers and nearly 15,000 community stations, providing face-to-face professional health services to consumers [18]. - The integration of AI technology in customer service has significantly enhanced user experience, with AI handling 67% of online consultations [18]. Group 4: Future Development Goals - As the company celebrates its 30th anniversary, it aims to leverage its established foundation to enhance its core competitiveness and sustainable development capabilities, focusing on green development as a pathway to becoming a world-class health enterprise [19].

"亚投行正逐步塑造以'立足亚洲、布局全球、绿色导向、创新驱动'为核心特征的多边开发银行新标 杆，成为21世纪全球基础设施建设与治理体系的重要参与者和推动者。"杨晓红说道。 杨晓红提到，亚投行赢得国际社会广泛认可，得益于几方面优势。一是治理规范透明。亚投行秉持多边 主义，坚持国际性、规范性与高标准运营。实行国际化、高标准的治理结构和项目筛选机制；二是运营 稳健高效。截至2025年6月，亚投行累计批准322 个项目，总融资额超过600亿美元，带动超过2000亿美 元资本投入；全部运营与《巴黎协定》保持一致，连续三年超额完成气候融资目标。 此外在于信用评级卓越、应对危机有力，并推动全球议程。杨晓红表示，亚投行围绕"绿色基础设施、 互联互通、科技驱动、动员私营资本"四大业务优先方向，积极促进全球基础设施投融资、应对气候变 化与实现包容性发展目标。 北京商报讯（记者 岳品瑜 董晗萱）6月24日至26日，亚洲基础设施投资银行（以下简称"亚投行"）第十 届理事会年会在北京召开。亚投行全球投资管理部第二大区公共部门客户管理局局长杨晓红在接受北京 商报记者采访时表示，亚投行作为21世纪新型多边开发银行，已迅速成长为覆盖全球、拥 ...

Core Insights - The Asian Infrastructure Investment Bank (AIIB) has established a distinctive focus on "green low-carbon + climate resilience + social inclusion" in its infrastructure investments in China, with Beijing playing an increasingly important strategic hub role [1][5]. Investment Overview - Since its official operation in 2016, AIIB has approved 22 projects in China, with a total investment exceeding $4.9 billion, covering sovereign and non-sovereign financing in key areas such as green transportation, clean energy, water management, public health, and vocational education [5]. - The first non-sovereign project approved by AIIB in China was the "Beijing Air Quality Improvement Project" in 2017, aimed at expanding the natural gas transmission network to enhance clean energy accessibility in remote areas [5]. Strategic Role of Beijing - Beijing's strategic role is highlighted as a leading city in green finance, digital infrastructure, and fintech, providing a favorable environment for AIIB to innovate financing tools and technology-driven projects [7]. - The city is also capable of hosting high-profile international meetings, facilitating global personnel and business interactions, thereby connecting Asian development experiences with global needs [7]. Future Investment Directions - AIIB has identified six key investment directions for the future: green and low-carbon infrastructure, digital infrastructure, social infrastructure, climate resilience and disaster prevention, technology-driven and innovative projects, and cross-border connectivity [7]. - Emphasis is placed on building future-oriented green, low-carbon, and digital infrastructure, as well as the importance of climate-resilient infrastructure and disaster prevention [7]. Climate Financing Achievements - As of June this year, AIIB has approved a total of 322 projects with total financing exceeding $60 billion, mobilizing over $200 billion in capital [8]. - AIIB's Climate Action Plan sets clear climate goals for 2024-2030, with a commitment to increase the share of climate financing to 50% by 2025, having already exceeded this target in 2022, 2023, and 2024 [8]. - In 2024, climate financing accounted for 67% of the total approved financing, reaching $5.61 billion, demonstrating AIIB's alignment with the Paris Agreement [8].