Poly Developments and Holdings: Environmental Initiatives Weigh on ESG Progress

4.74
27 ratings

Poly Developments and Holdings Group is a property development and distribution company, with development properties consisting of residential, office buildings, and shopping malls, among others in China. An analysis of the company's environmental, social, and governance policies are as follows:


Environment


From an environmental perspective, the company scores unfavorably, outperforming on the Resource Use Score front, but underperforming on the Environmental Innovation Score front.


For instance, it has implemented a resource reduction policy, which compares to the presence of a clear policy in the prior year. The company has implemented a water efficiency policy, with an energy efficiency policy implemented as well. This compares to the presence of a similar policy in the prior year.


Environmental policy areas where the company is currently lacking include Resource Reduction Targets and Environment Management Training, while areas the company has addressed include Environmental Supply Chain Policy.


The company has also not implemented renewable energy use, which compares to the lack of a clear policy in the prior year. The company has also notably implemented green buildings as well, which compares to the presence of a defined policy in this regard in the prior year.


In terms of its carbon footprint, the company's Estimated CO2 Equivalents Emission Total stands at 1,125,720 in the latest fiscal year, which compares to 961,850 in the prior year and 826,464 in the year before based on a Median CO2 Estimation Method.


Social


From a social standpoint, the company scores reasonably, outperforming on the Workforce Score front, but underperforming on the Human Rights Score front.


For instance, it has implemented a health and safety policy, which compares to the presence of a clear policy in the prior year. The company has also implemented an Employee Health & Safety Policy, with a Supply Chain Health & Safety Policy not implemented as well. This compares to the lack of a similar policy in the prior year. The company has produced a rise in Net Employment Creation.


As of the latest fiscal year, there have not been Management Departures, while the prior year saw no departures. Meanwhile, the company experienced no strikes this year, which compares to no strikes in the prior year.


Governance


From a governance standpoint, the company scores reasonably, outperforming on the Management Score front, but underperforming on the CSR Strategy Score front.


The company does not have a Corporate Governance Board Committee, a Nomination Board Committee, an Audit Board Committee, and a Compensation Board Committee. The company does have a Board Structure Policy and does have a Policy for Board Independence in place. The Board has held 21 meetings in the last fiscal year, which compares to 23 in the prior year. The Board size currently stands at nine members based on the latest annual/ESG report.


The Board has an average tenure of 3.4 years, which compares to 3.4 in the prior year. Board diversity stands at 22.2% for gender diversity.


The company has implemented a Policy Executive Compensation Performance and has not implemented a Policy Executive Compensation ESG Performance. The company has implemented a Policy Executive Retention, and has implemented a Succession Plan, and has implemented an External Consultants policy.


The company has not implemented CEO-Chairman Separation and does have its CEO as a Board member. Its chairman is not an ex-CEO. Board member term duration stands at three years. In total, senior executives' compensation rose in the latest fiscal year. Notably, the CEO compensation is not linked to total shareholder return. Meanwhile, executive compensation is not linked to long-term objectives. Sustainability compensation incentives have not been implemented. There have not been any executive compensation controversies thus far.


Sources:


http://www.polyhongkong.com/en/about/socialResponsibility.html


https://www.csrhub.com/CSR_and_sustainability_information/Poly-Real-Estate-Group-Co-Ltd

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