COFCO Corporation
Climate Impact & Sustainability Data (2016)
Reporting Period: 2016
Environmental Metrics
ESG Focus Areas
- Food Security
- Agricultural Modernization
- Food Safety
- Green Practices
- Industry Development
- Employee Development
- Community Service
Environmental Achievements
- Reduced comprehensive energy consumption by 296256 tons of standard coal; SO2 emissions decreased by 2714 tons; ammonia nitrogen emissions decreased by 71 tons; COD emissions decreased by 1424 tons.
- COFCO Plaza project achieved LEED Gold pre-certification after upgrades.
- Improved waste recycling and reuse across various business units.
- WOMAI.COM recycled 1,444,367 cartons and 51,798 other consumables; used electric forklifts for zero emissions.
Social Achievements
- Launched various employee training programs, including leadership training and benchmark management, training over 3300 employees directly and over 10,000 indirectly.
- Improved compensation system to motivate staff growth.
- Implemented various employee welfare programs, including supplementary medical insurance, personal accident insurance, and family property insurance.
- Organized various cultural activities to improve corporate cohesion.
- Implemented precision poverty alleviation programs in 9 counties, investing over 4.3 million yuan and creating over 1.3 million yuan in sales from supported projects.
- Donated 3 million yuan to poor families in Tibetan areas and nearly 9 tons of clothing to impoverished communities.
- Organized the first “Joy City Run” event, with over 91,993 online participants and a 1 million yuan donation to UNICEF.
Governance Achievements
- Revised the Party Group Working Rules, Board of Directors Working Rules, and President’s Office Working Rules to optimize decision-making mechanisms and corporate governance structure.
- Established a comprehensive supervisory system with four supervision lines: discipline inspection, straight pipeline audit, financial clarity, and full-time equity director.
- Improved legal compliance system to reduce legal risks.
- Strengthened food quality and safety system, streamlining quality and safety regulations to 86 items.
- Improved traceability system for products, achieving bottle-level traceability for Great Wall wines and online traceability for Mengniu imported liquid milk.
Climate Goals & Targets
Environmental Challenges
- Oversupply in the corn industry, increasing market and customer risks.
- Difficulties in managing odor issues in woven bags used for sugar products.
Mitigation Strategies
- Implemented a clear acquisition strategy and explored new cooperation models with large customers to address corn oversupply.
- Improved woven bag formula to eliminate odor issues, ensuring product quality.
Supply Chain Management
Responsible Procurement
- Strategic supplier management; collaboration with suppliers to improve product quality and safety; implementation of technical agreements with suppliers including food safety clauses.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI G4, CASS-CSR3.0, Guidance on Fulfillment of Corporate Social Responsibility of Central Enterprises issued by the SASAC of the State Council
Sustainable Products & Innovation
- Low-trans fatty acid oils
- Phytosterol-enriched corn oil
- Nutrition balanced Rice Mate
- Whole wheat flour
Awards & Recognition
- Most Influential Enterprise in China (2015)
- Golden Tripod Award (2015)
- Most Socially Responsible Employer (2016)
- Fortune Global 500 (23 consecutive years)
- Excellent energy-saving emission reduction enterprise (2016)