Xin Yuan Enterprises Group Limited
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:51,067.42 tCO2e/year (2021: 78,409.06)
Scope 1 Emissions:51,050.19 tCO2e/year (2021: 78,392.86)
Scope 2 Emissions:17.23 tCO2e/year (2021: 16.19)
Total Energy Consumption:191,386.06 MWh/year (2021: 271,695.03)
Water Consumption:182 m3/year (2021: 171)
Waste Generated:0.42 tons/year (2021: 0.46)
Carbon Intensity:1,276.69 tonnes/person (2021: 2,178.03)
ESG Focus Areas
- Marine pollution
- Environmental and ecological protection
- Energy efficiency and conservation
- Talent acquisition and retention
- Employee training and development
- Occupational health and safety
- Employees’ rights and support
- Service quality and safety
- Customer services and feedback
- Compliance operations
- Risk management
- Corporate governance
Environmental Achievements
- All existing ships met the latest IMO requirements of EEXI and CII from January 1, 2023
- Used low-sulphur fuel oil in all operations to meet IMO’s sulphur limits and reduce pollutant emissions
- Strengthened fuel management and improved fuel efficiency
- Air pollutants reduction target aligned with the reductions of carbon intensity targets
Social Achievements
- No reported cases of prosecution for violation of labour laws and regulations and employees’ rights and interests
- No accidents resulting in work-related injuries or death
- Provided training on external regulations and internal policies, occupational health and safety, anti-corruption, management, maritime safety and other topics
Governance Achievements
- Independent internal control consultant conducted a review on the effectiveness of the internal control system
- No significant area of concern that may affect the financial, operational, compliance controls and risk management of the Group has been identified
Climate Goals & Targets
Long-term Goals:
- Regularly check on the water-saving initiatives progress
- Strengthen the usage ratio and the applications of seawater desalination
- Reduce the fresh water demands from ashore
- Increase recycling uses of water resources
Medium-term Goals:
- Continuously track and disclose energy efficiency indicators and performance
- Strive to meet the energy efficiency obligations that are expected to apply to our ships
- Develop a hazardous waste management approach
- Install and use more onboard waste disposal machinery to reduce the waste amount
- Reduce plastic waste generation
- Manage and review ballast water management, implement innovative techniques in reducing potential harm
- Optimise and maintain desalination water generators, and strengthen desalinated water reserves
- Improve the water efficiency of sanitary ware
- Solid waste management
Short-term Goals:
- Increase fuel efficiency, reduction in carbon intensity and air emissions
- Minimise hazardous waste and dispose responsibly
- Minimise non-hazardous waste and dispose responsibly
- Manage wastewater treatment to minimise harmful marine discharge
- Avoid unnecessary water wastage
- Improve energy efficiency of office equipment
- Reduce the production of solid wastes
- Promote recycling culture
- Encourage water conservation, and reduce average water consumption
Environmental Challenges
- Changes in environmental legislations and policies may place higher compliance risks on the Group
- Global asphalt shipping market faced challenges due to strict pandemic control measures in China and the Russia-Ukraine war
Mitigation Strategies
- Retrofitted ships for better energy efficiency and lower carbon emissions
- Worked closely with engineers, customers, shipyards, and international communities to explore the latest advancements in ship hardware and shipping systems
- Formulated corresponding risk response strategies for different levels of ESG risks
Supply Chain Management
Supplier Audits: 27 suppliers
Responsible Procurement
- Green Procurement Standard
- Environmental Load Material Management Standard
- Supplier Bidding Procedures
Climate-Related Risks & Opportunities
Transition Risks
- Changes in environmental legislations and policies
Opportunities
- Development of energy-efficient products and technologies
Reporting Standards
Frameworks Used: Appendix 27 to the Listing Rules
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Downturn in construction activity may reduce demand for asphalt, affecting charter rates and vessel utilization.
- Disruptions in the supply chain of crude oil or refining capacity can affect asphalt availability and prices.
- High volatility in bunker price can directly impact the profitability of asphalt chartering business.
- Global recession or slowdown in emerging markets could reduce the number of projects requiring asphalt.
- Tariffs, trade barriers, and geopolitical tensions can influence the flow of asphalt, potentially disrupting established trade routes and affecting chartering services.
Mitigation Strategies
- The Group will monitor these risks closely and be prepared to adopt strategies accordingly to navigate the challenges that arise in 2024 and beyond.