As the company’s business continues to develop and steadily increase its economic contribution, the Board of Directors of Sinochem International is committed to improving its ESG governance. Meanwhile, we also aim to ensure the balanced development of the economy, society and environment in order to create a bright and sustainable future. The Board of Directors’ ESG Management Statement is as follows:
Regulation of ESG-Related Matters
The company’s Board of Directors is the highest decision-making and supervisory body for the company’s ESG governance efforts and is fully responsible for all ESG-related matters. Established under the Board, the “Sustainable Development Committee” chaired by the Chairman of the Board holds regular discussions and reviews on the company’s ESG-related risks and opportunities, so as to ensure the effective operation of its risk management and internal control systems. Annual hearings of specific reports on ESG issues are held, whereby oversight recommendations are put forward and the implementation of decisions is supervised.
ESG Management Guidelines and Strategy
The company’s Board of Directors formulated the ESG management guidelines and strategy as well as reviewed and approved the “Sinochem International Sustainable Development Management Methods” document in 2022. These documents incorporate ESG governance requirements into the company’s day-to-day management systems and serve as guides for the operation-level “Sustainable Development Executive Committee” and five professional sub-committees to carry out ESG related tasks. At the start of every year, the Board of Directors analyzes information such as external environmental changes, macro policies and ESG ratings while engaging in extensive and in-depth communication with various stakeholders through different channels. Meanwhile, we also update and reorder ESG issues, strengthen management for key issues, and continuously deliver responses pertaining to these said issues in order to keep improving ESG performance.
Formulation of ESG Objectives
The company’s Board of Directors continuously strengthen monitoring and participation in terms of ESG governance. In 2022, upon deliberation by the company’s Board of Directors, Sinochem International published its sustainability goals over the 14th Five-Year Plan period while also internally formulating 2022 yearly objectives covering all business units. The Board of Directors holds regular hearings of reports from the company management regarding the implementation progress of the previous year’s objectives, reviews and evaluates the achievement of the said objectives and plans for the next year’s objectives and work plan.
ESG Information Disclosure
The company regularly publishes its annual sustainability report to present detailed disclosures of its performance and progress in terms of the environment, society and governance while also actively responding to stakeholder concerns. All the disclosed information have been reviewed and approved by the Board of Directors.