Grand Ocean Advanced Resources Company Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:9,159.3 tCO2e/year
Scope 1 Emissions:835.6 tCO2e/year
Scope 2 Emissions:8,265.7 tCO2e/year
Scope 3 Emissions:58.0 tCO2e/year
Total Energy Consumption:16,806,000 kWh/year
Water Consumption:102,090 m3/year
Waste Generated:107.4 tons/year
Carbon Intensity:20.0 tonnes/employee
ESG Focus Areas
- Environmental Protection
- Social Responsibility
- Operating Practices
- Sustainability
- Climate Change
- Intellectual Property
- Employee Health and Workplace Safety
- Energy Consumption
- Greenhouse Gas Emission
- Water Consumption
- Equal Opportunity
- Anti-child and Forced Labour
Environmental Achievements
- Upgraded energy sources, replacing LPG with methanol
- Implemented dust control measures (storage facility, road enhancements, water sprinkler system, dedicated facilities, covered trucks, speed limits)
- Met the requirement of the Integrated Emission Standard of Air Pollutants for SOx and TSP emission
- Greening in the managed mining area (trimming, cladding, seeding with Sea Buckthorn, watering)
- Achieved zero work-related fatalities in the past 3 years
Social Achievements
- Implemented management system reformation, resulting in higher working efficiency and a more positive work environment
- Conducted group-wide safety training on occupational hazards and safe work practices
- 85.9% of employees completed training in 2023
- Implemented "Ventilation and Three Preventions" measures to improve workplace safety
- Established a mine rescue team
Governance Achievements
- Established three Board Committees (Audit, Nomination, Remuneration)
- Complied with the Model Code for Securities Transactions by Directors
- Implemented measures to strengthen internal control procedures following a breach of Listing Rules (training, review of internal controls, consultation with legal advisors)
Climate Goals & Targets
Long-term Goals:
- Achieve 50% reduction in NOx emission by 2050
Medium-term Goals:
- Achieve 15% reduction of emission by 2030 from the base year of 2021 (scope 1 & 2)
Environmental Challenges
- Rising competition from renewable energies
- Tightening government regulations and industry practices
- Incident of subsidence and deformation of land adjacent to the Inner Mongolia Coal Mine 958
- High staff turnover (28.14% in 2023)
Mitigation Strategies
- Strengthening operation safety awareness among employees
- Exploring suitable business and investment opportunities in mining and energy sectors
- Diversifying business portfolio and increasing geographic diversity
- Implementing effective cost-saving measures and funding management
- Formulating water disasters emergency plan and on-site discharge plan
- Implementing flood control, lightning protection and drainage clearance safety measures
Supply Chain Management
Responsible Procurement
- Requires mining products with safety signs and work safety licenses; products must meet environmental requirements
Climate-Related Risks & Opportunities
Physical Risks
- Sudden increase in precipitation and thunderstorms
Reporting Standards
Frameworks Used: Appendix C2 to the Listing Rules of the Stock Exchange