Climate Change Data

China Vered Financial Holding Corporation Limited

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Climate Goals & Targets

Long-term Goals:
  • Setting a Foothold in Hong Kong, Covering Asia, Focusing on the Future Globalisation Process

Environmental Challenges

  • Sluggish Hong Kong financial market conditions due to global financial instability, including the "triple kill" in the stock, bond, and foreign exchange markets.
  • Downward trend in the real estate industry.
  • Suspension of trading due to late release of 2021 audited results.
Mitigation Strategies
  • Focus on risk prevention and control, liquidity management, and enhanced asset allocation.
  • Adherence to a "double reduction" strategy (cutting fixed-income asset proportion and lowering concentration risk in real estate).
  • Strategic disposal of assets with potential risk.
  • Efforts to resume trading in accordance with Stock Exchange requirements.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:124.49 tCO2e/year
Scope 1 Emissions:1.18 tCO2e/year
Scope 2 Emissions:111.99 tCO2e/year
Scope 3 Emissions:12.32 tCO2e/year
Total Energy Consumption:197.64 MWh/year
Waste Generated:0.6548 tonnes/year
Carbon Intensity:2.88 tCO2e/m2

ESG Focus Areas

  • Product and service quality
  • Customer service and level of satisfaction
  • Anti-corruption

Environmental Achievements

  • Implemented energy-saving measures (LED lighting, T5 fluorescent tubes, maintaining indoor temperature at 25°C), resulting in a reduction of greenhouse gas emissions.
  • Implemented a continuous internal recycling program for consumable goods.

Social Achievements

  • No strikes or workplace fatalities.
  • Provided comprehensive benefit packages, career development opportunities, and internal training.
  • Implemented health and safety measures (clear passages, fire drills, first-aid boxes, etc.).
  • Provided anti-corruption training to directors and employees.

Governance Achievements

  • Compliance with the Code Provisions of the CG Code.
  • Established an Audit Committee, Nomination Committee, and Remuneration Committee.
  • Adopted a Board Diversity Policy.
  • Adopted the Model Code for Securities Transactions by Directors of Listed Issuers.

Climate Goals & Targets

Medium-term Goals:
  • Reduce greenhouse gas emission intensity by 10% (in tCO2e/m2) within 10 years starting from 2022.
  • Reduce waste generation intensity by 20% (in kg/m2) within 10 years starting from 2022.
  • Reduce total energy consumption intensity by 20% (in MWh/m2) within 10 years starting from 2022.

Environmental Challenges

  • Volatility and uncertainty of macroeconomic conditions.
  • Financial volatility.
  • Uncertain economic outlook and political conditions.
  • Potential impact on economic activities and asset prices.
  • Impact of local and international regulations.
  • Third-party risks.
Mitigation Strategies
  • Maintained prudence and temperance in management.
  • Optimized internal management, strengthened risk prevention and control, and improved corporate governance.
  • Launched private credit, special opportunity investment, and cross-border wealth management businesses.
  • Implemented a “double reduction” strategy to minimize the negative impact of real estate and risky assets.
  • Actively revitalized existing assets and accelerated cash realization.
  • Focused on high-quality, high-growth areas.
  • Explored special opportunities for non-performing assets.
  • Implemented cost control measures.
  • Engaged only reputable third-party providers and closely monitored their performance.

Supply Chain Management

Responsible Procurement
  • Transparent and fair procurement process considering environmental and social risks, integrity, competence, quality, and price.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (typhoons, storm surges, heavy rains) causing employee injuries, power outages, supply chain disruptions, and damage to assets.
Transition Risks
  • Tightening of climate-related policies incurring costs and rising operating costs.
Opportunities
  • Development of energy-efficient products and promotion of green financial services.

Reporting Standards

Frameworks Used: Hong Kong Stock Exchange ESG Reporting Guide

UN Sustainable Development Goals

  • SDG 3
  • SDG 4
  • SDG 7
  • SDG 8
  • SDG 10
  • SDG 12
  • SDG 13
  • SDG 16

The Group has established eight SDGs most relevant to its business and sustainable development strategy.