Climate Change Data

Environmental Metrics

ESG Focus Areas

• Emissions
• Use of Resources
• Environment and Natural Resources
• Employment
• Health and Safety
• Development and Training
• Labour Standards
• Supply Chain Management
• Product Responsibility
• Anti-corruption
• Community Investment

Environmental Achievements

• Carried out nine wastewater and exhaust treatment upgrade programs.
• Reduced overall energy consumption by approximately 30% (due to energy saving and emission reduction efforts and the impact of COVID-19).
• Hangzhou Joy City Shopping Mall achieved a 13.19% overall energy-saving rate after renovation and was awarded the honorary title of “Zhejiang Green Shopping Mall”.
• Beijing COFCO Landmark Tower won the Award of the Year for Asia Pacific in BREEAM AWARDS 2020.

Social Achievements

• Revised and issued the “Management Measures for Recruitment of Joy City (Revised)” and “Management Measures for Employment Contracts of Joy City (Revised)”.
• Launched about 180 online training courses, with total online learning time exceeding 13,000 hours.
• Implemented relevant national and local instructions on epidemic prevention and control, adopting a contactless approach for talent recruitment.
• Provided comprehensive employee benefits, including pension insurance, medical insurance, and more.
• No work-related injuries or fatalities in the past three years, including the reporting period.
• Implemented rent reduction and exemption policies for merchants during the COVID-19 pandemic.
• Updated the relevant systems on commercial real estate information security.

Governance Achievements

• Established an interlinked ESG management mechanism.
• Formulated internal systems such as the “Code of Integrity Practice” and “Implementation Measures of the Company’s Party Committee on the Supervision of the “Four Forms” of Discipline Enforcement”.
• Conducted 11 anti-corruption and integrity trainings.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacted business operations and energy consumption.
• Managing environmental risks from suppliers.

Mitigation Strategies

• Implemented contactless recruitment methods during the pandemic.
• Provided rent relief and support to merchants.
• Strengthened supplier management through online systems and third-party inspections.
• Implemented various ecological and environmental protection campaigns, including the “Ecological Sustainability System Development Plan of Joy City (2020-2022)”.

Supply Chain Management

Responsible Procurement

• Open tenders based on fair procurement
• Third-party inspections on tender and procurement

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, Environmental, Social and Governance Reporting Guide (ESG Guide)

Awards & Recognition

• Gold Award in Marketing Innovation in ECI Awards 2020
• China Business Brand of the Year 2019-2020
• Top 50 Commercial Property Developers in China by Overall Strength (ranked first for two consecutive years)

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Completed upgrading and transformation of wastewater projects in Chaoyang Joy City, Beijing COFCO Plaza, and Tianjin Joy City, reducing emissions.
• Upgraded two exhaust treatment projects (Chengdu Joy City boilers and Chaoyang Joy City catering businesses).
• Promoted paperless office to reduce paper use.
• Xidan Joy City passed the acceptance of the Energy Efficiency Improvements in Public Buildings of China, achieving energy saving and carbon emission reduction targets.
• Wuhan Joy City and COFCO Ruihong Ocean One obtained two-star green building certifications; Fengtai Joy Breeze received LEED gold pre-certification.

Social Achievements

• Established a scientific, transparent incentive system with competitive compensation and comprehensive benefits for employees.
• Organized various cultural and sports activities for employees (Green Run Event, vocational skills competitions, etc.).
• Implemented equal employment practices.
• Revised the “Infectious Disease Emergency Response Plan (Trial)” to improve infectious disease management.
• Organized over 1,530 safety and environmental protection training sessions with 43,508 participants.

Governance Achievements

• Improved ESG governance system by developing an ESG governance structure and defining responsibilities.
• Established an ESG management team.
• Revised the “Supplier System of Joy City” and the “Centralised Procurement System of Joy City” to clarify standards and processes for supplier management.
• Revised the Opinions of Joy City on Further Strengthening the Construction of Discipline Inspection Cadres Team, the Measures of Joy City on Strengthening Daily Supervision and Management, and internal audit specifications.

Climate Goals & Targets

Environmental Challenges

• Potential impact of extreme weather on projects (typhoons, rainstorms, etc.).
• Potential supply chain risks.

Mitigation Strategies

• Issued Guidelines for Monitoring, Early Warning and Handling of Natural Disasters to standardize procedures for managing natural disasters.
• Dispatched early warnings to relevant regional companies and projects.
• Improved tendering and procurement system and conducted training to enhance awareness and understanding.
• Revised the “Supplier System of Joy City” and the “Centralised Procurement System of Joy City” to clarify standards and processes for supplier management.

Supply Chain Management

Supplier Audits: 4,952 total suppliers

Responsible Procurement

• Inclusion of environmental protection qualifications (emission permits, energy management system certification, green product certification) in supplier review.
• Requirement for ISO 9001, ISO 14001, and OHSAS 18001 certifications for headquarters suppliers.
• Participation in the Green Supply Chain Initiative for China’s Real Estate Industry.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather (typhoons, rainstorms, cold waves, high temperatures)

Reporting Standards

Frameworks Used: ESG Guide (Appendix 27 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited), GRI Standards (GSSB)

Awards & Recognition

• Hong Kong Green and Sustainable Finance Award
• Nearly 140 heavyweight industry awards in 2021 (specific awards listed in the report)