United Nations Development Programme, China International Centre for Economic and Technical Exchanges under Ministry of Commerce and Yunnan Metallurgical General Company joined forces in a unique partnership that brings together development experiences of an international agency, support from the government, and commitment of Chinese enterprises to promote sustainable development in China.
Yunnan Metallurgical General Company, among the first Chinese enterprises to cooperate with UNDP, contributes a total of CNY100 million to establish one of UNDP's largest corporate social responsibility initiatives in China in a variety of areas ranging from poverty reduction, socio-economic development to environmental and ecological improvement. A Memorandum of Understanding was signed on June 24 at a high profile event in the Great Hall of the People, which marks the establishment of a three-pronged model of CSR partnership through a conjuncture of its core business, social investment and CSR advocacy.
The cooperation between the three is in response to a growing CSR movement across the world. A community of leading business and social entrepreneurs increasingly invest in socially responsible practices, sustainable economies, eco-friendly business and fair trade.
"Cooperation among UNDP, CICETE and enterprise sector will promote development of enterprises, and endows great significance in attainment of all-around well-off society and UN Millennium Development Goals", said Vice Minister of MOFCOM Yi Xiaozhun.
YMGC is credited for its long commitment to corporate citizenship with 4% of its investment goes to reduce emissions and conserve energy. In 2007, the state-owned company won the China Environmental Protection Award, the most renowned of its kind in China.