Peng Fei’s voice resonated throughout the Yabuli Forum: responsibility, patriotism, and a sense of duty.

Release Date:

2023-06-19

On June 17–18, the 9th Annual Innovation Conference of the Yabuli Forum 2023 was held in Taiyuan, the provincial capital. The theme of the conference was “Openness, Innovation, and Transformation: Directions and Pathways for High-Quality Development.” During the “ESG Forum: Building an ESG Ecosystem under the Strategy of Chinese‑Style Modernization” session on the 18th, the voice of Pengfei resonated at the Yabuli Forum: Zheng Peng, Chairman of the Board and President of Pengfei Group, spoke as a representative of the business community, sharing insights on how enterprises can deeply understand and implement ESG principles and contribute to China’s modernization.

Zheng Peng pointed out that, for Pengfei, ESG is a matter of responsibility, national sentiment, and accountability. The very purpose of a company is to create happiness, with wealth creation coming second. As long as you can bring happiness to humanity, you have a raison d’être; and if you exist, you must also generate value. While ESG may appear to be an enterprise’s pursuit—seemingly focused on costs—it is not a cost at all. Rather, it is a question of survival. If a company fails to contribute to society and the environment, lacks a sense of social responsibility, or lacks effective governance and the capacity for continuous improvement, it will simply be unable to endure.

By citing examples that contrast past and present understandings of carbon emissions, Zheng Peng emphasized that ESG is not merely a matter of weighing costs; it is an imperative for entrepreneurs—and indeed for every industry—necessary for the sustainable development of humanity’s future. As long as a company contributes positively to society and the environment, it will possess robust, enduring sustainability. In the energy sector, the yardstick for success used to be how much pollution a company generated—a stark reversal from today, when greater environmental responsibility is increasingly valued. Back then, the more polluting a firm was, the more it was admired, with the assumption that higher profits were a sign of excellence. Now, the less a company pollutes, the higher its profitability, the better its management, and the more stable its operations. Over the years, Pengfei Group has spared no expense in investing in environmental governance and conservation. On the front of social responsibility, the company has made it a self‑evident, unwavering commitment, without needing to be reminded. The result has been steadily improving performance. Whenever and wherever difficulties or disasters arise, we respond promptly and wholeheartedly, stepping forward whenever our help is needed.

Founded in 2001, the Yabuli Forum has, over more than two decades of development and refinement, evolved into a premier platform for intellectual exchange among Chinese entrepreneurs. Its annual conference has been recognized as one of China’s most influential economic events and serves as a key barometer for gauging the health of the Chinese economy.