China Overseas Land & Investment

COLI engages with the clients of its property management business including using a low-carbon points system to reward clients that implement green standards. However, the scope and details of this scheme are not disclosed. The company can improve by building on this engagement and implementing a client-engagement strategy, governed by a clear policy and integrated into business decision-making.

COLI has set a target to reduce its scope 1 and 2 emissions from commercial and “innovative” projects by 3% by 2023 compared to 2019. However, the company has not set a net-zero target or any targets for its scope 3 emissions. The company should develop a long-term target that covers all its operations to allow its progress to be measured and to encourage accountability. Furthermore, COLI should set regularly spaced intermediate targets to incentivise near-term action on longer-term goals. Additionally, the company should clearly report its base year emissions and disclose any use of offsets, to allow for a complete analysis of its targets and progress against them. 

COLI does not disclose the expected in-use emissions intensity data or sufficient floor area and in-use absolute emissions data, for the buildings it developed in 2021 or previous years. As a result, it is not possible to provide a meaningful assessment of the company’s past emissions trend or projected future performance. COLI also does not quantify its commitments to perform renovations for its clients to significantly reduce the emissions intensity of existing buildings. 

COLI has set a target to reduce emissions from its commercial operations by 3% by 2023. However, the company has not set any long-term targets. The company has not developed a vision of what its business will look like in a low-carbon future. 

The company does not have a low-carbon transition plan. However, the company has stated that it intends to develop a plan to align with the Chinese government’s targets of carbon peaking in 2030 and carbon neutrality in 2060. 

The company has committed that 100% of newly built residential projects will meet a minimum of 1-star green building standard under the Chinese Green Building Standard for the period 2020-2023. In 2021, the company certified 46% of its suppliers in line with its green standards  

COLI has formulated its green finance framework and established its green procurement policy and strategies. The company also obtained 64 new patents in 2021 relevant to “green buildings”. The company does not report sufficient data to establish whether these initiatives have led to reductions in the company’s emissions. 

COLI has started to change its business model in response to climate change by establishing standards and setting short–term targets. However, the company has not detailed how it plans to achieve its transition and there is little evidence of the company taking significant action to reduce its emissions. 

No evidence was found that COLI commits to social dialogue or engages with the categories of stakeholders 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 that COLI undertakes 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 was found stating COLI intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found that the company has action 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.  

No public commitment by the company was available stating its intention to re- and up-skill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company re- and up-skills workers in a way that ensures gender balance and inclusion of vulnerable groups. 

No relevant disclosure was found to show if COLI 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.  

No relevant disclosure was found to show how COLI 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. 

No policies or commitments of COLI related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain. 

COLI commits to respecting the health and safety of its workers and expects the same commitment of its business relationships. However, no evidence was found of a time-bound target for paying all workers a living wage. While the company discloses the proportion of its direct workforce covered by collective bargaining agreements, no relevant disclosure was found of the company’s required working hours. COLI discloses some indicators of workforce diversity, including the age and gender of its workforce by employee category. However, no relevant disclosure was found of additional indicators of workforce diversity. While the company sets time-bound targets on gender equality, no evidence was found that the company commits to women’s empowerment. 

While COLI commits to protecting personal data, no evidence was found that it discloses a privacy statement regarding use of personal data. No evidence was found that the company discloses its global tax strategy and the corporate income tax paid for each relevant jurisdiction. The company does have a policy prohibiting bribery and corruption, and it includes corresponding clauses in its contracts with business relationships. However, no relevant disclosure was found of the company’s lobbying and political engagement policy as well as expenditure on lobbying activities.