On August 21st, Sinochem Holdings released its 2022 Environmental, Social, and Governance (ESG) Report. This marks the company’s inaugural ESG report and represents a firm commitment to the requirements outlined in “Action Plan for Improving the Quality of Listed Companies Held by Central SOEs” by China’s State-owned Assets Supervision and Administration Commission of the State Council. It also signifies a strong initiative towards the company’s path of high-quality development and enhancing non-financial performance.
ESG serves as a crucial enabler for achieving sustainable development and is increasingly becoming a vital metric for measuring corporate high-quality development. 2022 was the first full operational year for Sinochem Holdings after its restructuring. The company staunchly implemented decisions and arrangements made by the State Council, proactively responded to environmental changes, and integrated ESG into its development strategy and operational processes. This further highlighted the characteristics of an innovative enterprise, while also reinforcing its core competitiveness and sustainable development capabilities.
The report covers three themes: “Green Transformation and Low-Carbon Practices,” “Food Security, a National Priority,” and “Technology-Driven Innovative Development.” It showcases Sinochem Holdings’ initiatives and achievements in areas such as corporate governance, environmental friendliness, climate adaptation, people-oriented approaches, and community welfare. The report indicates that in 2022, Sinochem Holdings adopted “carbon emissions peaking and carbon neutrality” as a strategic means to promote sustainable development. It integrated green and low-carbon practices throughout the entire development and management process. The company also vigorously advanced the upgrading of the seed industry, and comprehensively improved seed technology capabilities by addressing challenges, filling gaps, and leveraging strengths. Furthermore, it actively fulfilled its social responsibilities by shaping a broader perspective on food security. With an innovation-driven development strategy, Sinochem Holdings will continue to construct an open, diverse, and industrialized technological innovation system, foster a technological talent team, promote exchange and cooperation among tech talents, focus on the main business, and constantly elevate technological innovation capabilities to enhance core competitiveness.
In the subsequent phase, the company will further refine ESG governance and assessment mechanisms, deepen the level of ESG governance, consistently enhance ESG performance, fully integrate ESG principles into corporate operations, steadfastly pursue a “dual-carbon” path, and leverage technological innovation to create more superior products, striving to establish itself as a world-class chemical conglomerate.
