(Hong Kong, 26 April 2024) China Overseas Land & Investment Ltd. (“COLI” or the “Group”, stock code: 0688.HK) releases its “2023 Environmental, Social and Governance (ESG) Report”.
COLI has been established for 45 years and has been unswervingly adhering to the belief of “Creating a Better Life Together”, and upholding its sustainability strategy of being “a Company of Four Excellences”, namely “Good Products, Good Services, Good Effectiveness and Good Citizen”. During the year, the Group compiled its ninth ESG report and successfully obtained the independent report assurance, further enhancing the transparency and credibility of the ESG information, while responding to the expectations of the capital market.
The Group has received high recognitions from the capital markets for its ESG management achievements, and has been honoured with multiple prestigious ESG accolades. For seven consecutive years, the Group has been selected as a constituent of the FTSE4Good Index. The Group has also been a member of the Hang Seng Corporate Sustainability Index Series for 14 consecutive years, and a constituent of the Hang Seng ESG 50 Index (top 50 ESG leaders with relatively high market capitalisation listed in Hong Kong) for the fourth year. Throughout the year, the Group won multiple significant awards, including the “Most Honoured Company”, “Best Board of Directors” and “Best ESG” by Institutional Investor, “ESG Leading Enterprise Award 2023” by Bloomberg Businessweek/ Chinese Edition, “2023 Forbes China ESG Innovative Enterprises Selection” and other remarkable awards.
In terms of the environment, the Group actively responded to China’s “3060 Decarbonisation Targets.” In 2023, the Group published the Carbon Neutrality White Paper, proposed medium-to-long-term decarbonisation targets and the Implementation Plan for Carbon Peak to reduce carbon emissions in phases. The Group has also established industry benchmarks for green buildings, including the Shenzhen China Overseas Building, the first Grade 5A high-rise office building in China with nearly zero-energy consumption, which has been completed and operated in 2024. The Group integrated climate risks into its risk management framework and strictly adhered to the Responding to Climate Change Policy. Climate change scenario analysis has been refined by assessing climate risk exposure in eight city groups and proposing climate adaptation measures for 24 representative buildings based on assumptions of specific climate risks and two scenarios (RCP8.5 and 4.5).
In terms of social responsibility, the Group values the customers, employees, society and other stakeholders. In 2023, the Group delivered over 94,000 houses, with a 100% on-time delivery rate. The overall customer satisfaction score was 90, ranked top 3 in the industry. The Group updated the Measures for the Investigation of Work Safety Accidents within the year, set quantifiable safety management goals and linked the remuneration of the persons in-charge of safety with the safety performance of COLI. Besides, the Group proactively conducted training sessions for all employees with an average of 89 training hours, covering the topics of workplace personal skills, occupational safety and health, sustainable development and others. During the year, the Group invested more than RMB6 million in rural revitalization and consumption support of three counties in Gansu Province, and helped Zhuoni County create the “Zhuoni Black Fungus” brand. At the same time, with the support of the Hong Kong Special Administrative Region Government and people from all walks of life, the Group officially launched the first phase of “Manage Happiness in a Concerted Effort – Bidding Farewell to Subdivided Housing” to help residents improve their living environment.
In terms of corporate governance, the Group has established the five components constituting the brand of integrity culture: ethic, laws, rules, emotion and publicity. In 2023, the Group launched over 600 activities concerning “Leading with Integrity, Clean COLI” nationwide, making the concept of integrity deeply rooted in our hearts. With regard to system construction, the Group has incorporated ESG risks, including climate risks, into the corporate risk management process. During the year, the Group updated internal management systems such as the Compliance Management Measures and the Risk Management Measures, which set more detailed requirements for COLI’s business. The Group also appointed a new female independent non-executive director to ensure the effective functioning of the Board and empower the corporate governance with female perspectives.
Those who recognise the trend are wise and those who ride the trend will win. In 2023, when opportunities and challenges were intertwined, COLI seized opportunities with prudent operations and embarked on a new phase of sustainable development, composing the chapter of the times. Looking ahead, the Group are confident that the Group will continue to strengthen our readiness to shoulder responsibilities in the changing times. The Group will steadily take every step of development and construction, meticulously build every inch of land, and conscientiously protect people’s lives under each roof. Together with all parties involved, the Group strive to create a better future and lead the way forward.
COLI‘s 2023 Environmental, Social and Governance Report is available on our official website. Please click and enjoy reading. (Chinese version) (English version)
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