Solartech International Holdings Limited
Climate Impact & Sustainability Data (2021-07 to 2022-06, 2022-07 to 2023-06)
Reporting Period: 2021-07 to 2022-06
Environmental Metrics
Total Carbon Emissions:1,837.59 tCO2e (indirect)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:1,837.59 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:4,114,625 kWh
Water Consumption:3,066 m3
Waste Generated:Insignificant hazardous waste; Insignificant non-hazardous waste
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental Protection
- Climatic Change
- Employment Fairness
- Working Condition and Safety
- Raw Materials Supply and Procurement
- Quality of Products and Services
- Ethical Management and Anti-corruption
- Community Support
Environmental Achievements
- Reduced indirect CO2 emission by approximately 77.81% in the 2022 Reporting Period due to decreased electricity consumption.
- Reduced water consumption by 57.97% in the 2022 Reporting Period compared to the 2021 Reporting Period due to outsourcing of a production process and rehabilitation of water mains.
- Zero violation related to hazardous or non-hazardous wastes.
Social Achievements
- Complied with all employment laws, rules and regulations of the PRC and Hong Kong, and honored all obligations to employees.
- Zero work-related fatalities in the past three years.
- Zero lost days due to work-related injuries in the 2022 Reporting Period.
- Provided 375 jobs, mostly to low-skilled workers.
Governance Achievements
- Adopted an anti-corruption policy.
- Established a whistleblowing policy and committee.
- Adopted a board independence evaluation mechanism.
- Adopted a new share option scheme.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Reduce indirect CO2 emission by 1–2% in the Dongguan Factory Offices.
- Reduce fresh water consumption by 1–2% under normal operating conditions.
Environmental Challenges
- Decrease in copper price from approximately US$9,400 per ton at the beginning of the year to approximately US$8,200 per ton at the end of the year.
- Lockdown policy imposed in Mongolia delaying mining plans.
- Recurrences of COVID-19 outbreaks in China increasing shipping and production delays.
- Uncertainty and volatility in the local property market due to the persistence of COVID-19 and the contemplation of an increase in interest rates in Hong Kong.
Mitigation Strategies
- Adjusted investment plan in Mongolia in a more prudent manner.
- Closely monitoring the development of the pandemic and taking quick response measures to mitigate uncertainties brought about by stringent quarantine measures.
- Realising investment in properties and enhancing liquidity to partially repay loans, thereby reducing future interest expenses and lowering the gearing ratio.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Selecting suppliers based on criteria including ability to meet specifications, product quality, pricing, delivery reliability, green specifications, and track records.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ESG Reporting Guide of the Listing Rules
Certifications: ISO 9001:2015
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2022-07 to 2023-06
Environmental Metrics
Total Carbon Emissions:1775.91 tCO2e/year
Scope 1 Emissions:29.02 tCO2e/year
Scope 2 Emissions:1746.89 tCO2e/year
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:3170445 kWh/year
Water Consumption:24836 m3/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental Protection
- Climatic Change
- Employment Fairness
- Working Condition and Safety
- Raw Materials Supply and Procurement
- Quality of Products and Services
- Ethical Management and Anti-corruption
- Community Support
Environmental Achievements
- Reduced electricity consumption by 25.52% compared to the 2022 Reporting Period.
- Reduced water consumption by 24.89% compared to the 2022 Reporting Period.
- Reduced paper consumption by 31% compared to the 2022 Reporting Period.
- Reduced total CO2e emissions by 4.81% compared to the 2022 Reporting Period.
Social Achievements
- Maintained a stable workforce with low turnover.
- Achieved zero work-related fatalities and zero lost days due to work-related injuries.
- Provided regular training programs for employees.
- Complied with all employment laws and regulations.
Governance Achievements
- Adopted a new share option scheme.
- Maintained a robust anti-corruption policy.
- Implemented a detailed supply and purchase management system.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Reduce air pollutants and CO2e emissions by 1-2% in Dongguan Factory Offices.
- Reduce water consumption by 1-2% in Dongguan Factory Offices.
- Lower energy consumption by 2-3% in Dongguan Factory Offices.
Environmental Challenges
- Decreased demand for home appliances due to China's economic slowdown and the Russo-Ukrainian war.
- Uncertainty and volatility in the local property market.
- High maintenance costs for aging Factory Complex in Shanghai.
- Uncertainty in Mongolia's mining policy environment.
Mitigation Strategies
- Reviewing strategies for allocation and development of land resources.
- Making timely changes to sales strategy and redirecting resources to other operations.
- Consolidating resources to manage existing properties in Dongguan.
- Adopting a more prudent investment strategy in Mongolia.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Selection of suppliers based on criteria including quality, pricing, delivery reliability, green specifications, and track records.
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: ESG Reporting Guide of the Listing Rules
Certifications: ISO 9001:2015
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed