The "2025 Gold Industry Sustainable Development Conference" was held in Sanya on December 12. The second half of the conference, centered around "Building a Responsible Gold Ecosystem," systematically explored the transformation direction and implementation pathways for the gold industry under the ESG framework from multiple dimensions, including policy trends, industry strategy, corporate practices, and investment perspectives.
In a keynote speech, Liu Feng, Chief Economist of the Central University of Finance and Economics' International Institute of Green Finance, pointed out that the global ESG wave and "dual carbon" goals have become core drivers for the transformation and upgrading of the gold industry. From an industry background perspective, gold is not merely a single commodity but a strategic resource possessing commodity, industrial, and monetary attributes simultaneously. In recent years, as global uncertainty has risen, investment demand for gold has grown significantly, and the scale of financial products like ETFs has continued to expand. During this process, the focus of capital markets on gold companies has also shifted: it is no longer solely on production volume and costs; attention has turned to long-term governance capabilities and sustainable performance; ESG is gradually becoming an important factor influencing valuations. Against the backdrop of de-dollarization trends, green transformation, and intelligent upgrading occurring simultaneously, the gold industry is facing practical challenges such as increasingly stringent international regulations and diversified standards, but it is also ushering in a window of opportunity for structural upgrading through green mining, intelligent metallurgy, and financial innovation.
Liu Feng emphasized that the industry needs to proactively connect with capital markets and international standards, transforming ESG contributions into capital value and enhancing valuation levels.
In a roundtable discussion on "Building a Responsible Gold Ecosystem," representatives from institutions including the World Gold Council, Chifeng Gold, Fidelity International, and KPMG engaged in in-depth exchanges on ESG system construction, alignment with international standards, rating disparities, and the investor perspective. Wang Lixin, CEO of the World Gold Council China, noted that while Chinese gold companies have made positive progress in the ESG field, there is still room for improvement in systematic and centralized management compared to leading international enterprises. He candidly stated, "We find that the biggest difficulty in execution seems to be that when we discuss this matter with companies, there isn't a single overall responsible unit; responsibilities are scattered across different departments." He believes that Western companies place greater emphasis on the systematic nature and centralized management of ESG, and Chinese companies should accelerate the advancement of ESG system construction to achieve a transition from fragmentation to systematization. As an important standard-setter and promoter for the global gold industry, the World Gold Council is consistently committed to enhancing the industry's sustainable development level and international influence. In recent years, the Council has continuously improved the industry's responsible governance system and enhanced the ESG management level of the global gold industry by launching the "Responsible Gold Mining Principles" (RGMPs), publishing reports such as "Gold and Climate Change" and "The Social and Economic Contribution of Gold Mining," initiating the "Artisanal and Small-scale Gold Mining" standardization initiative, and promoting international coordination for the "Integrated Mining Standard Initiative."
In the roundtable session, Lü Xiaozhao, Vice Chairman of Chifeng Jilong Gold Mining Co., Ltd., shared in detail the specific practical pathways for gold mining companies in the ESG field. In recent years, Chifeng Gold has made continuous investments across multiple dimensions, including: the construction of green mines and ecological restoration; co-construction mechanisms with local communities; employee safety assurance and governance compliance systems; and the continuous optimization of information disclosure and management structures. These long-term investments have enabled the company to achieve relatively leading performance in international ESG ratings and gain multiple international recognitions. Lü Xiaozhao stated, "ESG is not simply a report; it is reflected in the revitalized mining areas after reclamation, in the smiles of community residents after they have access to water, and also in the sight of every employee returning home safely." In the future, Chifeng Gold will adopt an open attitude, join hands with various partners, and strive to become a globally welcomed gold producer through continuous innovation and stable operations, contributing greater strength to the sustainable development of the industry.
From an investor's perspective, Zhao Binyu, Sustainable Investment Analyst for Greater China at Fidelity International, pointed out that ESG factors have become key variables affecting the valuation and capital allocation of mining companies. Zhao Binyu emphasized that globally, sustainable investment has become a mainstream trend. For mining companies, ESG performance directly impacts their valuation level in the capital market. Proactively enhancing the detail of information disclosure and actively participating in the international ESG discourse can build their own competitive barriers. She further noted that differences in disclosure culture and communication methods are significant reasons for the divergence between domestic and international ratings. Chinese companies should proactively voice their perspectives, strive for ESG discourse power, and better demonstrate their actual achievements in the field of sustainable development.
Hu Yinghua, ESG Business Partner at KPMG Enterprise Consulting (China) Co., Ltd., emphasized that the global regulatory environment is continuously tightening, and ESG-related standards vary across different markets. Her thought-provoking question was: "Should we follow the baton of so-called rating agencies, or can we develop our own set of ESG risk and opportunity management systems that have unique characteristics and are more aligned with the actual situation of the enterprise?" She believes that Chinese mining companies should, based on their own realities, establish distinctive ESG strategic systems and performance demonstration closed loops to further enhance their discourse power and influence in the global sustainable development field.
Synthesizing various viewpoints, the participants reached a highly consistent consensus: The Chinese gold industry has achieved staged results in ESG and green development, but future efforts must continuously focus on international communication, transparency of information disclosure, and global standard-setting to realize a shift from passive response to active participation. As Wang Lixin, CEO of the World Gold Council China, stated, Chinese companies should have confidence; the key lies in how to use international language and standards to express their own practices, thereby enhancing their global influence. In the future, the Chinese gold industry will, with a more open attitude, actively integrate into the global governance system and promote the construction of a responsible gold ecosystem and the sustainable development of the industry.
