(Hong Kong, 28 April 2022) China Overseas Land & Investment Ltd. (“COLI” or the “Group”, stock code: 0688.HK) releases 2022 Environmental, Social and Governance Report.
COLI has firmly adhered to its sustainability framework of “a Company of Four Excellences” and took initiatives to integrate ESG and other sustainability elements into its business model, where the Board of Directors is responsible for overall sustainability governance as well as assessing, determining and supervising the ESG risks related to its business. COLI set its five-year (2019 to 2023) sustainable development goals in 2019, and continued to track the accomplishment of the goals. In 2022, COLI sorted out the sustainable development goals systematically, further combined its business development with sustainability strategy, and set its medium-to-long-term sustainable development goals (2025 and 2030).
COLI‘s Environmental, Social and Governance (ESG) management achievements have been highly recognized by the capital market. Given its extraordinary ESG performance, COLI was included as a constituent of the Hang Seng Corporate Sustainability Index (HSSUS) for consecutive 13 years (Top 30 companies listed in Hong Kong with best ESG performance) and continued to be included in Hang Seng ESG 50 index in 2022. Among the international mainstream ESG ratings, COLI was upgraded to BBB in MSCI ESG Ratings; received a high score of 91 (total score 100) by Refinitiv, ranking first among 479 real estate companies; and was rated as “low risk” by Sustainalytics, fully demonstrating the outstanding performance of COLI in the areas of business development, environmental, social and corporate governance. Besides, COLI received high recognition from major domestic ESG rating agencies: AA by QuantData, A by Wind, and A- by SynTao Green Finance.
In respect of the environment, the Group proactively responded to the “3060 Decarbonisation Targets” set by China via taking green and low-carbon development as the main direction of its development. In order to promote the decarbonisation work in an effective manner, the Group set up the “COLI Carbon Peak and Carbon Neutrality Working Leadership” and completed decarbonisation background research and analysis, as well as comprehensive carbon audit. The Group has also set medium-to-long-term decarbonisation targets of reducing at least 30% Scope 1 and 2 carbon emissions intensity per unit area by 2030 (2019 baseline year), and striving to achieve carbon neutrality by 2060. Besides, COLI made remarkable achievements in green buildings and zero-carbon buildings. As at the end of 2022, the total number of green building projects of the Group amounted to 569, with a total certified GFA of 98.69 million m2. In addition, COLI maintained a leading position in climate risk management and compiled and published the Responding to Climate Change Policy, and completed the climate scenario analysis.
In respect of social responsibility, COLI attaches great importance to stakeholders such as employees, customers and society, always bears in mind corporate social responsibility and strives to act as a responsible good citizen. In 2022, the employee satisfaction score of the Group reached 82, and the voluntary resignation rate was only 6.9%. The overall customer satisfaction score of COLI was 90, ranking top three among the top 20 real estate enterprises by sales. Besides, COLI‘s affordable housing under construction reached 1.088 million m2. In addition, COLI invested RMB0.46 million in education support, and invested more than RMB5.09 million in rural revitalization and consumption support of three counties in Gansu Province and Changting County in Fujian Province. So far, COLI has invested more than RMB200 million in disaster relief, donations to assist underprivileged students and public welfare in Hong Kong, Macau and mainland China.
In respect of corporate governance, the Board of Directors is responsible for overall sustainability governance and has integrated “climate change risks” and “ESG risks” into the risk pool. The Board has adopted the Board Diversity Policy to achieve sustainable and balanced development of the Company. The Board will continue to maintain at least one female director. All Group‘s management and employees signed the Work Integrity Responsibility Statement on a yearly basis, 100% of suppliers have signed the Supplier Code of Conduct and the Integrity Agreement, and all are required to receive supplier training on four topics: environmental protection, anti-corruption, safety and product quality. Meanwhile, with a view to further optimizing the ethics review process, the Group conducts regular audits for various business and material suppliers with large orders every three years, and the Board of Directors oversees ethics issues.
Looking ahead, the Group will adhere to its brand philosophy of “building happiness and leading the trend”, core value of “Four Excellences” and the responsibility concept of “Each and Every Detail of Each and Every Project”, earnestly respond to the low-carbon green development goal, and join hands with stakeholders to create long-term sustainable value and build a healthy and sustainable community for the new era via in-depth combination with the its business development and the interests of stakeholders
COLI‘s 2022 Environmental, Social and Governance Report is available on our official website. Please click and enjoy reading. (Chinese version) (English version)
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