Management Process and ESG integrated Guidelines

Management Process and ESG integrated Guidelines

More than ever, the world requires supply chains to be more sustainable and help achieve the UN Sustainable Development Goals by 2030. Sinyi Realty cannot stay out of the way. We first introduced ISO 20400 Sustainable Procurement, hoping to incorporate sustainable development into management practices and processes. We invite key suppliers to make positive impacts and reduce negative environmental, social, and governance impacts while making decisions.

Building on our ongoing supplier management efforts, we began quick ESG scans to our key suppliers, shared our renewed commitment to sustainability through “Sinyi Suppliers Business Code of Conduct and Sustainability Term”, which will be attached with their contract. This term emphasized business ethics, updating on new ESG-related requirements, and incorporating international trends and compliance. By signing this term, it will help increase mutual awareness on ethical and sustainable sourcing, human rights, etc., with all of our key suppliers.

1 Sustainable procurement policy and goals setting

We follow the UN Global Compact and international principles such as ISO 26000, ISO 9001, ISO 20121, and have developed standards such as procurement ethics, local and green sourcing policies. In 2021, we further refined our policies and practices with the introduction of ISO 20400.


2 Embed sustainability into suppliers selection

In addition to traditional quality, delivery, and cost considerations, we conduct ESG compliance due diligence on large-volume procurement suppliers. New suppliers are invited to fill out an ESG assessment form, and all key suppliers including new and existing need to sign “Sinyi Group Suppliers Business Code of Conduct and Sustainability Terms” at the same time when signing the contract.


3 ESG risks assessment and management

Through suppliers evaluation form, stakeholder satisfaction surveys, document reviews and site visits, we can understand suppliers operation mechanism and their performance on service quality, cost, delivery, and ESG issues. Also, suppliers are invited to fill out the annual ESG self-evaluation form to reflect their commitment and practice at year-end.


4 Evaluate major ESG issues and take action

We conduct ESG on-site audit, and understand their challenges. We provide market-related experience, latest regulatory trends, and discuss possible ways of improvement with suppliers. Our Corporate Ethics Office is the channel for complaints (grievance mechanism) and monitoring of ethical issues throughout the whole procurement management process.


5 To learn and grow together, or contract might be terminated

Through resources sharing and training, we grow with suppliers and create sustainable value. For those who fail to comply with our sustainable development principles, they are expected to file a written report and to improve with a deadline. Otherwise, the contract will be terminated and no future cooperation with the supplier.

Our ESG guidelines and commitment

are to integrate ESG related risks and impacts into consideration and we commit:

E to work with suppliers to promote a low-carbon environment and through low-carbon transformation to enhance competitiveness.
S to enhance a society that values human rights and occupational safety and health.
G to uphold corporate governance and to create sustainable value with suppliers.