An Exclusive Interview with He Keng on China’s Dual Carbon Goals and Economic Development
As China approaches the final year of its 14th Five-Year Plan and the 5th anniversary of its Dual Carbon goals, the nation stands at a critical juncture in integrating ESG principles with economic growth. He Keng, former Vice Minister of the National Bureau of Statistics, shares insights on building a distinctive Chinese ESG system that aligns with the country’s modernization objectives.
The Convergence of ESG and Chinese Modernization
| ESG Dimension | Alignment with Chinese Modernization | Policy Milestones |
|---|---|---|
| Environmental (E) | Harmonious coexistence between humanity and nature | 1989 Environmental Protection Law → 2020 Dual Carbon Goals |
| Social (S) | Common prosperity for all people | Poverty alleviation → 400M middle-income population |
| Governance (G) | Material and spiritual civilization coordination | CSR integration into corporate governance |
ESG as a Catalyst for New Quality Productive Forces
Energy Sector Transformation
- Diversified supply system: coal, oil, gas, nuclear + renewables
- 16.4% growth in clean energy generation (2024)
- 3.4% reduction in CO2 emissions per GDP unit
Industrial Internet Innovation
- 8 consecutive years in Government Work Reports
- AI and big data driving manufacturing upgrades
- Smart, green production processes
- “ESG has evolved from compliance management to value creation, becoming a crucial tool for developing new quality productive forces.”
Building a Distinctive Chinese ESG System
Current Challenges
- Fragmented regulatory oversight across multiple agencies
- Balancing profitability with environmental commitments
- Adapting international standards to domestic context
Proposed Solutions
- Strengthen SAMR’s technical supervision capabilities
- Gradual, phased policy implementation
- Cultivate entrepreneurial integrity culture
- Integrated cross-departmental coordination
Roadmap for ESG Development
2025 (14th FYP Conclusion)
- Complete ESG institutional framework
- Expand clean energy infrastructure
- Enhance corporate disclosure standards
2026-2030 (15th FYP)
- Full integration with global ESG systems
- Advanced emission control technologies
- Comprehensive social responsibility metrics
Upcoming Forum: “Beyond the Summit, Vast Oceans Await”
He Keng will deliver keynote address at the 2025 ESG and High-Quality Development Innovation Forum, discussing practical pathways for Chinese enterprises to implement ESG strategies.
Policy Recommendations
Regulatory Framework
Establish unified ESG standards under SAMR oversight while maintaining sector-specific flexibility
Implementation Strategy
Adopt progressive targets to balance corporate capacity with societal expectations
International Integration
Develop bilingual reporting standards to facilitate global investment while preserving Chinese characteristics.China’s ESG development represents a unique synthesis of socialist market economy principles with global sustainability standards. By leveraging its institutional advantages and massive market scale, China is poised to create an ESG model that simultaneously drives economic growth, environmental protection, and social equity – the trinity of high-quality development.
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