Risk Assessment and ESG Enhancement
Risk Assessment and ESG Enhancement
In 2020, we strengthened the field work safety and the on-site inspection of sales agency, in order to encourage suppliers to fulfill their corporate social responsibilities in protecting labor, consumers, and communities.
Sinyi Realty has been aware of issues in supply chain management such as forced labor, working environment safety, and corruption for a long time. For example: security or cleaning operations suppliers have a higher probability of forced labor. They should pay attention not to violate an upper limit of working hours in Labor Standards Act. For suppliers with large purchases and large amounts of money transaction have a greater risk of corruption. For the consignment suppliers, due to a large number of sign-posting staff, they have greater risk caused by the working environment. For example, staff must not continue to work at a high temperature of more than 32 degrees, and a relative humidity of more than 80%, or when a natural disaster occurs, and not stand in an important hub of dangerous traffic. For home suppliers provide decoration services, they must not work without safety protection equipment, and not work in dust, toxic gases environment.
In 2020, we fully adopted the Sustainability terms which incorporating environmental, social, and governance aspects. We conducted risk assessment of all suppliers in the supply chain system as showed in the following table, and required all suppliers to sign the Sustainability terms, and implemented irregular on-site inspections to encourage suppliers to follow business ethics and fulfill corporate social responsibilities.
ESG Enhancement with Suppliers
Environmental – GHG emissions of energy survey to key suppliers, go green procurement together!
In 2020, we conducted a GHG emissions of energy survey, started from our upstream and downstream key suppliers, such as Land identification agency, Property right registration agency, and Real Estate Escrow services. We invite them to join in our journey to “Net Zero”.
Our green procurement exceeded NTD30 million for both 2019 and 2020, and we were recognized for consecutive 13 years by Taipei city government.
Annual Green Procurement Amount
Social – through cooperation to go co-prosperity
With its ability to coordinate real estate resources, capital, architectural design, property management and sales services, etc., An-sin assists in the reconstruction of dangerous and old houses, urban reorganization, and to improve living safety.
Adhering to Sinyi’s spirit of “righteousness first and profit later”, An-sin’s general manager led his colleagues to volunteer in the 2020 charity bazaar, held by Sinyi Charity Foundation. The purpose of the bazaar is to encourage seniors interacting with the society more, and show their talents to the society. Volunteers helped to organize the venue, and cleaning after the event. They truly felt the energy from seniors during the event.
An-sin volunteers gained more understanding about active ageing, and seniors needs both mentally and physically. They will be able to further link resources with the foundation, and share resources with the communities they work with. In the future they will be the good partners to the communities and move toward to mutual benefit and common prosperity!
Governance – to conduct suppliers on-site check
In 2020, we conducted 1,093 on-site visits to 279 key suppliers, and from the 44 CSR self-evaluation forms received, we have a clearer understanding of suppliers’ awareness of sustainability-related issues and the implementation and links to ESG.
Brief findings are shared below:
|Environmental||Environmental sustainability, Sustainable consumption and production|
|Consumers concerns||Consumers’ health and safety|
|Community Engagement||Community investment and engagement|
2020 Sinyi fought against Covid-19 together with suppliers. We not only took necessary protection but also offer financial negotiation mechanism to suppliers in need. Community health promotion and care activities were be able to conduct due to our joint efforts with suppliers.
|Governance||Corporate culture and governance|
|Human Rights||Forced labor, occupational health and safety|
|Fair Trade||Corruption related matters、Fair Trade|
“Wearing mask” is a must in 2020. Regarding supplier occupational health and safety, in addition to choosing legal suppliers, the workplace and the contractor’s site decoration hazard notification need to be provided before the start of work. To increase due attention and awareness will help avoid possible harm to workers.