On June 13, 2019, the 14th GoldenBee International CSR Forum was held in Beijing. Sinochem International (600500.SH) announced that it has joined the "GoldenBee Global CSR 2030 Initiative" and released "FINE 2030 Action" initiative on the forum.
This is an active commitment of Sinochem International to extensively practice corporate social responsibility and it will join hands with other enterprises to contribute to the realization of SDGs of the United Nations.
(Sinochem International joins “GoldenBee Global CSR2030 Initiative”)
Sinochem International "FINE 2030 Action" launches actions on the basis of "responsible consumption and production" and "climate action" closely related to the company in the SDGs and contributes to the realization of SDGs through innovation and responsibilities. As to initiative goals, Sinochem International is committed to enhancing the output of sustainable products by 50%, ensuring 80% subsidiaries are certified by third-party on sustainability, achieving continuous decline of carbon dioxide emission per ton of products on the basis of 2018 and comprehensively building sustainability network to achieve sustainable production and operations by 2030.
"Sustainable development is the gold key to solving the current global issue worldwide. To practice 'FINE 2030 Action', Sinochem International will center on the four action routes of 'solid foundation', 'technological innovation', 'partnership network', and 'environment-friendly production', adhere to the sustainability philosophy and join hands with all parties to open up a brand new sustainable development road," said Head of HSE Department Fang Guoyu.
In the title of the action, the "FINE" stands for both "Fine Chemistry" in English and "Happiness" in Chinese, manifesting the corporate vision of "Fine Chemistry, Green Life" of Sinochem International. "FINE" is also the acronym of "Foundation", "Innovation", "Network" and "Environment", representing "solid foundation", "technological innovation", "partnership network", and "environment-friendly production" respectively. Sinochem International, following Sinochem's core value of "In Science We Trust", functions as a catalyst in chemistry, utilizes its professional knowledge and advantage, releases the full potential of scientific and technological innovation, offers high-quality, green and healthy products and innovative solutions, and cooperates with stakeholders to seek sustainable ways to meet global challenges.
In terms of technological innovation, Sinochem International will continue to increase input, set up incentive funds to invest RMB 200 million in three years for innovation projects. Meanwhile, it will strengthen the R&D and application of green and low-carbon technology and process, vigorously develop clean technologies and reduce wastewater, waste gas and solid waste from the source. The company will actively develop green business, delve into R&D of green products, speed up innovation in the fields of new energy and new materials to provide sustainable and comprehensive products and solutions.
In the process of production, Sinochem International practice the high-quality development road, vigorously implement clean production, enhance the usage of green materials and green energy, promote comprehensive saving and cyclic utilization of resources and continue to reduce wastes. Meanwhile, it will strengthen full-cycle treatment of chemicals and hazardous wastes, to minimize the negative impact on human health and environment.
Sinochem International will join hands with partners to build a sustainable and win-win network. Apart from continuously improving sustainable supply chain management system, performing internal and external evaluation and review of the sustainable supply chain, and promoting affiliated enterprises to pass third party certification, Sinochem International will also strengthen evaluation and review on suppliers, promote social responsibility ability of suppliers, deepen information disclosure and communication of sustainable supply chain and co-build new sustainable development partnership network involving multiple parties.
Sinochem International has released sustainability reports for 15 consecutive years. In 2018, it integrated sustainability into corporate strategy and formulated a three-year action plan to speed up construction of sustainable management system.
Driven by technological innovation, green products including green pesticides, membrane materials, light-weight materials and lithium batteries continue to emerge. In May 2019, the company released the Supplier Code of Conduct to build consensus of upstream and downstream enterprises. Benefited from the remarkable results in environment-friendly production, two factories affiliated to Sinochem International were certified as "2018 Green Petrochemical Plant" by the Ministry of Industry and Information Technology.
GoldenBee International CSR Forum, co-sponsored by China Sustainability Tribune and GoldenBee Think Tank, has been successfully held for 14 sessions. "GoldenBee Global CSR2030 Initiative" is dedicated to making contributions to the national plans of China in implementing sustainable development agenda and contributing to the final achievement of SDGs. Currently, 27 enterprises and 2 institutions including Sinochem International have become the co-initiators of "GoldenBee Global CSR 2030 Initiative".