Greentown China Holdings

Greentown China Holdings has not set any emissions reduction targets. The company should introduce targets to cover emissions from its operations and value chain. The company should ensure that this target aligns with its 1.5°C pathway. Furthermore, the company should set regularly spaced intermediate targets at no more than five years gaps to incentivise near-term action.

The company reports in its annual report the use of techniques for energy conservation and green construction management, however there is a lack of details on these initiatives. The company can improve by developing each of these measures into new business models and reporting on their profitability, growth potential and deployment schedule across the different segments of the company’s operations.

Greentown China does not disclose the expected in-use emissions intensity data or sufficient floor area 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. Greentown China does not quantify commitments to perform renovations for clients to significantly reduce the emissions intensity of existing buildings.

There is no evidence that Greentown China has a strategy or initiatives to drive emissions reduction in its supply chain. Its supplier engagement is limited to meeting government environmental standards. There is no evidence that the company has integrated emissions reduction into their engagement with suppliers. Suppliers are not required to publicly report their GHG emissions and GHG emissions reduction is not included in the selection criteria for new suppliers or contract renewal of existing suppliers.

Greentown China Holdings has not set emissions reduction targets, nor any other quantified measures of success. The company has not developed a vision of what its business will look like in a low-carbon future beyond small-scale actions.

The company does not have a transition plan, however, the company has stated that it intends to develop one shortly. It has conducted a climate scenario analysis that has considered the implications of a 1.5°C scenario to inform the transition plan.

To date, the company’s low-carbon actions are limited to the use of pre-fabricated structures in some buildings and a small number of low-carbon projects funded from green bonds in alignment with the company’s green financing framework. Some examples include energy efficiency measures to achieve international and national energy certifications.

The company does not disclose emissions intensity or future renovation data. There is limited evidence that the company is investing in research and development of low-carbon technologies and it is restricted to energy efficiency technologies.

Greentown China does not have an environmental strategy that is aligned with a low-carbon transition. The company has not published a transition plan or has set emissions reduction targets. There is little evidence that the company has integrated climate change into its business model.

No evidence was found that Greentown China Holdings 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 the company 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 by Greentown China 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 that the company 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 training opportunities for workers and affected stakeholders. For instance, it organizes learning programmes for employees at different career development stages and provides educational grants to students in remote areas. However, no relevant disclosure was found that the company embeds equality of opportunity for women and vulnerable groups in these actions. Furthermore, no evidence was found that Greentown China has a process for identifying skills gaps for workers and affected stakeholders or a public commitment to help workers displaced by the transition to re- or up-skill.

No relevant disclosure was found to show if Greentown China 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 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.

No policies or commitments are available to display if Greentown China relates to respecting human rights was 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.

Greentown China 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. Moreover, no evidence that the company’s policies or commitments relate to other key decent work issues were found in the public domain. These issues include the provision of secure, safe and healthy workplaces, where workers are fairly renumerated and have a meaningful say in decision-making.

Greentown China commits to protecting personal data. However, no evidence was found of a privacy statement regarding the collection, sharing and access to personal data. Moreover, no policies or commitments of the company related to other key ethical business topics – tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its relationships with business partners.