Environmental, social and governance (ESG) corporate compliance standards have become a mainstream non-finance branch of business evaluation, advocated and promoted worldwide by the UN. ESG standards also embrace labour protection-related metrics such as forced labour, working conditions and protection, employment discrimination and equal employment. This article summarised and discusses representations and requirements of ESG labour compliance under China’s labour legal system.
GRI, the Global Reporting Initiative, specifically mentions labour protection under “S” of its ESG standards – with requirements set out for occupational health and safety, diversity and equal opportunities, non-discrimination, and forced or compulsory labour. These requirements also reflect the core content of labour standards promulgated by the International Labour Organisation.
The US, EU and many other jurisdictions have formulated their own ESG labour laws. In general, requirements in developed countries are more refined, with more severe penalties imposed for violations.
In comparison, mainland China’s legal system on labour protection, its counterpart to ESG labour compliance, largely comprises principal and framework requirements that continue evolving. However, although China has yet to set out any special laws for formal ESG information disclosure, both Shenzhen and Shanghai stock exchanges now require social responsibility disclosures to be included in annual...
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