Since the Chinese government proposed the “Belt and Road” Initiative, Chinese enterprises have been faced with new landscapes and opportunities in their endeavor to “go global”. While Chinese textile and apparel enterprises seek global presence, their social and environmental impacts are attracting increasing attention from international stakeholders. Successful overseas investment relies not only on successful business valuation, decisions and practices, but also on social license that builds on due diligence and localization. The philosophy and rule system of responsible investment provide cross-cultural but common action and language framework, and responsible business conduct (RBC) can deepen the relationship between enterprises and stakeholders, better manage the social responsibility impacts of overseas investment, and enhance enterprises’ reputation and responsible competitiveness.
To put into effect the development ideas of “innovation, coordination, green development, opening-up and sharing”, promote the Principles for Responsible Investment, strengthen Chinese textile and apparel enterprises’ RBC in the stages of overseas investment assessment, implementation, and exit, enhance the industry’s competitive edge, better integrate into the global value chain, and contribute to achieving the UN Sustainable Development Goals (SDGs), China National Textile and Apparel Council (CNTAC), based on “CSC9000T Corporate Sustainability Compact for Textile and Apparel Industry” (2018), has developed the “Guidance for Chinese Textile and Apparel Industry on Responsible Overseas Investment ” (hereinafter referred to as “this Guidance”). This Guidance takes SDGs as the framework, and has been developed in the light of the characteristics of overseas investment by the Chinese textile and apparel industry, with reference to the United Nations Principles for Responsible investment, ISO26000 Guidance on Social Responsibility, relevant laws and regulations, international conventions, social responsibility standards, principles, initiatives, and instruments.
This Guidance and the CSC9000T management system will be used in support of each other. The CSC9000T management system mainly provides a social responsibility code of conduct and a working path for textile and apparel enterprises to adopt in their production and operations. This Guidance is designed mainly for RBC of textile and apparel enterprises at the stages of overseas investment assessment, implementation and exit, to realize responsible investment and contribute to achieving SDGs by identifying and addressing the social responsibility risks at various stages of an investment cycle.
For the complete Guidance, please refer to