Risk and Impact Assessment

Risk and Impact Assessment

Identify and Assess Risks

In addition to GRI414 – supplier social assessment, we introduced ISO 20400 to help identify key suppliers who fall in high ESG risks, and need to improve through our management mechanism.

ISO 20400 is aligned with the 7 core subjects and 37 issues identified in ISO 26000 (Social Responsibility-Guidance). And with ESG impacts in mind, we identified the major issues faced by real estate service Supply Chain.

Impacts on Sustainable issues

E

Environmental protection Although we are not energy-intensive or manufacturing kind, we still have waste management issue, and have to face the journey to Net Zero, too. We have to work together with our suppliers to achieve a low-carbon supply chain.
Waste management

S

Human rights As a people-oriented happy enterprise, we hold ourselves accountable to standards that go beyond regulations. Driven by increasingly stringent regulations and our management, suppliers have better understanding and implementation of the protection on employees' human rights, occupational safety and health, etc. Renovation and furniture suppliers face higher job safety risks.
Occupational safety and health

G

Fair trade and anti-corruption Corporate sustainability depends on good governance – with ethics and anti-corruption governance.
E governance Digital transformation is already a necessary change. Supply chains also need to adopt new operating models and face emerging risks. For example, information security/fraud risks may arise from digital services, or interruption of network services.

Risk Assessment

In order to properly manage and control risks and enhance the sustainability of our suppliers, the management and evaluation mechanisms we adopt include:

Supplier qualification preview
  • Basic information sheet
  • ESG self-assessment form
  • ESG compliance due diligence check
  • Procurement team review
During Contract Period
  • Suppliers Code of Conduct and Sustainability Terms
  • Engagement with suppliers
  • Annual ESG self-assessment form
  • On site check and visit
  • User Satisfaction Survey
  • Suppliers evaluation
Enhance sustainability with suppliers
  • To share ESG resources with suppliers
  • To celebrate “supplier of the Year”
  • Corporate Ethics Office hotline for grievance mechanism
  • To digitalize our qualified suppliers database
  • To innovate together for better ESG performance

Conduct ESG audit to confirm suppliers compliance with human rights and occupational health and safety

Sinyi has incorporated human rights and ESG-related commitments into contracts with suppliers over years. Not only suppliers’ awareness being raised, but also their commitment(signed on paper) increased from 84% in 2012 to now 100%. We also checked our key suppliers(total of 342 people) at headquarter building about their staff turnover rate and work injury rate over these 3 years. Key suppliers include 306 staff from Property right registration and Real estate escrow service agency, and 36 staff from Property management agency, which offers customer service, security, cleaning and maintenance. No significant change for the recent 3 years.

Turnover Rate

Innovate with suppliers to promote a sustainable and better life for all

To demonstrate the spirit of corporate governance, "Sinyiliving" acquired ISO 9001 certification again in 2022, and continue works with many life service providers, who recognize sustainable value and have qualified certifications. We assist suppliers to maintain the consistency of product and service quality. The ESG self-evaluation help disclose the transparent and operating information of suppliers. Some regularly announce the company's policies, showing the spirit of corporate governance.

In 2022, the total number in the list of qualified partner suppliers is 85, with a pass rate of 94%.


Conduct GHG emissions of energy survey to our key suppliers, and invite them to join in Sinyi’s carbon reduction path together.

Sinyi Realty joined in the Net Zero 2030/2050 Initiative, and all of our key suppliers are invited to begin the journey with awareness, commitment, and take action.

We have been conducting GHG emissions of energy survey to our upstream and downstream key suppliers(Land identification agency, Property right registration agency, and Real Estate Escrow services). This is the 3rd year inventory survey and the goal for 2030 was set to reduce 12.5% from the baseline year 2020. We are happy to go green together with our suppliers, and we are resources providers, through partnership we promote ESG and sustainable development.

Go Green Together - Green Procurement

Our green procurement exceeded NTD30 million every year from 2019 to 2022. And Sinyi is recognized for consecutive 15 years by Taipei city government.
Annual Green Procurement Amount
(Unit:ten thousand yuan)

Drive the supply chain to deepen sustainability momentum