Sinochem International has continuously improved its sustainability management system, strengthened the management of substantive issues, built employee awareness and capabilities in terms of sustainable development, and promoted the establishment of a responsible brand in a planned and deployed manner. These measures have created a responsible form of competitiveness that is compatible with the sustainable development concepts espoused by the enterprise.
As the highest decision-making and supervisory body for the company's sustainable development efforts，the board is responsible for formulating sustainability objectives and plans, leading the decision-making process for ESG initiatives, regularly monitoring and reviewing the completion of goals and providing recommendations for improvement. The board is also responsible for the management of employee misconduct and preventing the occurrence of controversial disciplinary incidents.
The Sustainability Committee established at the board level of the company is responsible for the management of sustainable development-related issues and the promotion of ESG-related tasks. Meanwhile, the Audit and Risk Committee is responsible for evaluating the potential risks that ESG related matters pose to the company's business model. The two committees are independent and have mutually complementary functions to ensure the orderly progress of sustainable development initiatives.
At the management level, the company set up a sustainable development executive committee and five professional sub-committees to oversee five respective areas (sustainable governance, health, safety and environment, low-carbon development, labor rights, and sustainable supply chain). These sub-committees are to implement sustainable development initiatives in their respective fields.
ESG Risk Identification
The company incorporate ESG risk identification into its routinized risk management system, whereby the Board of Directors will be wholly responsible for the decision making and supervision of ESG risks. An audit and risk committee established under the Board of Directors is responsible for assessing the impact of ESG risks on the company’s operations and finances and supervising the effectiveness of risk management system operations. The company continues to monitor ESG risks against the backdrop of policy guidelines, environmental risks or social changes. It systematically identifies risk factors and formulates targeted management measures in order to effectively control and avoid the impact that the risks could bring to the business and operations.
Response to Sustainability Initiatives and Goals:
Sinochem International actively participates in and responds to various sustainable development initiatives launched by the local government, industry, and domestic and international society, contributing to the sustainable development of mankind through the thorough implementation of corporate social responsibility.
● Responsible Care
● ICC Business Charter for Sustainable Development
● United Nations Global Compact
● Sustainable Development Goals
● Together for Sustainability
● The Catalan Office for Climate Change
● Operation Clean Sweep
● China Goldenbee CSR 2030
*Note: Subsidiaries set their own respective commitment goals and action plans when participating in various initiatives.