Report suggests Swedish firms beef up China CSR initiatives
Print Edition
The Swedish government will step up efforts to enhance corporate social responsibility practices and management among Swedish enterprises in China, aiming to strengthen exports and capture globalized opportunities. The 2015 CSR white paper of Swedish enterprises in China was unveiled on Thursday in Beijing, highlighting CSR-related initiatives played an important role in facilitating trade.
A new memorandum of understanding on social responsibility was signed by Sweden鈥檚 minister for enterprise and innovation and China鈥檚 vice minister of commerce in September, specifying new areas of cooperation. The newly-released white paper, compiled by the China WTO Tribune magazine under the auspices of the Swedish embassy in China, emphasized challenges brought by China鈥檚 unique legal, regulatory and business environment, saying the differences in business environment and culture between China and Sweden are likely to leave Swedish enterprises in China in a disadvantageous position.
Swedish companies ought to improve transparency in disclosing social responsibility-related information, the paper suggested. In 2014, a total of 2,357 social responsibility reports were issued in China, but only 158 came from foreign enterprises, and no Swedish company had appeared on the list.
The report encourages Swedish companies to tap new media channels such as WeChat to increase the efficiency of communications with the public in order to build their own social responsibility brands.
The companies are also advised to beef up cooperation with local governments, industry associations, and civil institutions.
According to the results of the survey of Swedish companies in China, corporate size and industry have yet to make a difference on their willingness to engage in corporate responsibility.
There are currently more than 10,000 Swedish enterprises actively operating in China. For large-sized companies, they invest to build factories and choose to have systematic management of social responsibility, by adhering to sustainability strategy from their Swedish headquarters and adapting to the scenario in China. However, for trade-oriented firms, they are more concerned about the social responsibility management in the supply chain.
The paper said Swedish enterprises in China are keen on turning environmental constraints into opportunities. Meanwhile, they take a people-oriented approach. With the upgrading in China鈥檚 industrial structure, and implementation of the 鈥淏elt and Road鈥 initiative and the 鈥淢ade in China 2025鈥 strategy, they will have more chances to work with Chinese partners to address key CSR issues, the paper concluded.
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