Geely Holding

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

Geely Holding has set a target to reduce its scope 1, 2 and 3 emissions by 25% by 2025 compared to 2020. However, it does not publicly disclose specific reduction targets for either of its scope 1, 2 or 3 emissions. The company’s scope 1 and 2 emissions intensity from its own operations more than doubled between 2019 and 2021, but decreased by 26% between 2021 and 2022. Despite the decrease, the company does not show alignment with the 1.5°C pathway.

Geely Holding does not have a comprehensive low-carbon transition plan that includes financial commitments or short- or long-term actions. Although the company has implemented board-level oversight of climate change, there is no evidence that its board has adequate climate expertise. The company also does not incentivise low-carbon performance through executive compensation. Geely should define specific actions and targets to bolster its transition plan, as well as establish a process to review, update and report progress against its plan.

Geely does not disclose the share of low-carbon capital expenditure (CapEx) or the proportion of its research and development (R&D) expenditure allocated to low-carbon technologies. While there is data on the company’s low-carbon vehicle sales, the company does not report the share of revenue from these products or other low-carbon services. Moreover, there is insufficient information to calculate the company’s trend for locked-in emissions intensity from sold products.

Although Geely Holding has implemented a supplier engagement strategy, it does not include quantified greenhouse gas (GHG) emissions reduction requirements. However, it routinely reviews suppliers and conducts supplier performance evaluation to check compliance. It is also one of the few assessed companies that intends to terminate relationships with non-compliant suppliers. While Geely Holding does not support associations or alliances that have negative climate positions, it can improve its policy engagement by having a process to review its membership in associations, as well as an action plan in case associations’ climate positions do not align with the low-carbon ambition.

No evidence was found of the company’s commitment to social dialogue or of the categories of stakeholders the company engages with on a just transition. Furthermore, no evidence was found to demonstrate the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s actions to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks. The company discloses the actions it takes to provide reskilling and upskilling opportunities for workers and affected stakeholders. However, no relevant disclosure was found of the company embedding equality of opportunity for women and vulnerable groups in these actions. Furthermore, no evidence was found of the company having a process for identifying skills gaps for workers and affected stakeholders or a public commitment to help workers displaced by the transition to reskill or upskill.

No relevant disclosure was found to show if the company identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders. Moreover, no relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

The company commits to respecting human rights and the ILO fundamental rights at work. The company has a grievance mechanism available to workers and external stakeholders. However, it can strengthen its disclosure on its human rights due diligence process and engagement with affected stakeholders.

Besides the company’s disclosure of the proportion of its workforce by gender, no evidence of the company’s policies or commitments related to key decent work issues was found in the public domain. These issues include the provision of safe, secure and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

The company has anti-bribery and anti-corruption policies. However, no evidence was found of company disclosure regarding personal data protection, responsible tax practices and responsible lobbying and political engagement. The company can strengthen its disclosure on these subjects.