Special Topic: 2026 Sustainable Global Leaders Conference & the Second Green Industry and Sustainable Consumption Expo. The 2026 Sustainable Global Leaders Conference was held in Shanghai from October 20 to 22.
In a thematic dialogue titled "New Landscape for Chinese Enterprises Going Global: ESG Compliance and Innovative Investment and Financing," Song Yunbo, Chief Sustainability Officer of GCL Group, shared her views on ESG regulatory trends and supply chain carbon accounting. She stated that ESG oversight has shifted from broad coverage with heavy burdens to "focusing on leading players," but the underlying logic of green transformation has not changed. Instead, requirements for large enterprises and supply chains have become stricter and more specific.
Regarding external discussions about whether ESG requirements are being relaxed, Song Yunbo said that from a regulatory perspective, the adjustment of ESG requirements to focus on leading players reduces administrative costs for SMEs in the short term. However, the underlying goals of green transformation, the Carbon Border Adjustment Mechanism, and the foundational framework logic of supply chain accountability for large multinational corporations have not changed. To some extent, it has merely extended the timeline.
Using photovoltaic and lithium battery overseas expansion as examples, she pointed out that the requirements companies experience on the front lines are actually higher. The EU Carbon Border Adjustment Mechanism (CBAM) is undergoing trilateral negotiations among the European Parliament, the Council of the European Union, and the European Commission. One proposal is to include photovoltaic modules in the controlled list.
Song Yunbo stated that if module products are included in the controlled list, it means the EU's carbon border accounting direction will shift from basic raw materials to downstream end products. Once implemented, carbon accounting across the entire industry will penetrate the full module supply chain, forcing upstream photovoltaic material segments such as polysilicon and steel brackets to conduct complete carbon data traceability, and compelling companies to adopt low-carbon production capacity.
She also mentioned that the EU Solar Industry Alliance already has a complete ESG system and traceability system in place to regulate Chinese photovoltaic module exports. In the lithium battery industry, the electronic passport has already begun implementation in 2027, requiring all lithium battery supply chain players to have complete data on-chain. Major clients have long required complete carbon data, ESG management, or traceability data on-chain.
"From a broader perspective, requirements for large enterprises are actually stricter, and for the supply chain more specific," Song Yunbo said.
The adjustment of regulatory scope does not mean pressure disappears, but rather that the way pressure is transmitted has changed—from uniform requirements for a broad range of enterprises to carbon data responsibilities transmitted level by level along the supply chain.
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