Yili Group releases its food value accounting report. [Photo provided to chinadaily.com.cn]

Dairy giant Yili Group released the world's first ESG value accounting report in the global food industry on May 22, promoting the monetization of environmental, social and governance metrics, or ESG development achievements.

Yili, together with domestic and international investors, also launched the WISH2030 Declaration – advocating the creation of social enterprises that achieve both commercial and social value.

May 22 marked International Biodiversity Day and was Yili's chosen date for releasing its ESG reports for several years.

This year, in addition to its regularly disclosed Sustainability Report, Biodiversity Conservation Report and Zero Carbon Future Report, Yili – in collaboration with GoldenBee Consulting – released the world's first ESG value accounting report in the food industry, setting another precedent in ESG.

Yili releases "WISH2030" with domestic and international investors. [Photo provided to chinadaily.com.cn]

Yili's ESG value accounting report, based on industry and Yili's public data, is said to incorporate authoritative scientific methods in order to monetize the company's ESG achievements.

It is understood to demonstrate the dual materiality principle outlined in the sustainable development report guidelines listed for China's A-share stock market listed companies.

The report shows that in 2023, Yili's external donations amounted to 280 million yuan ($38.65 million) and its operations created a positive impact value of 6.81 billion yuan for society and the environment. This was in addition to the 10.43 billion yuan of net profit attributable to shareholders, highlighting the greater social value created for all stakeholders.

The current year marks the 20th anniversary of the United Nations Global Compact's ESG concept. With the deepening of the ESG concept and national policy promotion, the ESG disclosure rate of listed companies continues to increase and ESG value plays a more significant role in corporate performance evaluations.

Yili is said to remain committed to the long-term – creating enduring value and continuing to lead in terms of industry sustainability.