We value our stakeholders including customers, investors, the government, partners, employees, communities, and the environment. Following the CSR philosophy of Integrated Capacity and Infinite Capability, we listen and respond to the demands of stakeholders and work with them in taking practical and effective CSR actions to contribute to sustainable development.
COSCO SHIPPING Energy continues to improve its ESG management structure to see that ESG management is fully integrated into corporate governance.
Board of Directors
As the highest decision-making body responsible for the Company's ESG matters, the Board of Directors assumes full responsibility for ESG strategies and reporting. It makes overall arrangements, advances ESG management, and reviews relevant performance.
Assist the Board of Directors in overseeing key ESG issues, responsible for conducting research on the Company's sustainable development, environmental, social, and governance strategies, setting goals, establishing evaluation mechanisms, and providing recommendations, and carrying out ESG governance supervision.
Responsible for organizing and promoting ESG management, ensuring the integration of ESG concepts with company strategies.
Compliance Management Committee
Composed of the Chairman, general manager, and other executives. It is responsible for organizing and coordinating compliance management, fostering a compliance culture, and establishing business systems to integrate compliance management into business processes.
Safety Management Committee
Consists of the President, senior executives, and heads of relevant departments and subsidiaries. It is a critical component of the Company's work safety decision-making and safety and environmental management. It ensures the implementation of the resolutions of the Board on safety and environmental protection.
Cyber Security Committee
Composed of the President, relevant senior executives, and heads of departments. It is the highest decision-making body for the Company's network and information security management.
ESG Working Group
Implements and promotes the Company's specific ESG matters and regularly communicates and reports progress to the management.
In accordance with the Environmental, Social and Governance Reporting Guide released by the Stock Exchange of Hong Kong Limited on how to define materialtopics, in 2021, the Company conducted a materiality survey on internal and external stakeholders, which were then confirmed by the Board of Directors. In 2022, given both internal and external changes, we re-evaluated these topics and their ranking based on their significance to the economy, society, and environment,as well as their impact on the decision-making of stakeholders. This allowed us to better prioritize our ESG management and information disclosure efforts andaddress stakeholder concerns.
The Company fully interacts with customers, government and regulatory agencies, shareholders, employees, communities, suppliers, peers, industry organizations, media, and other stakeholders online and offline, in a bid to track the concerns and requirements of stakeholders and integrate them into the scope of corporate social responsibility management. We will also respond with practical actions.