Baowu

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.

Baowu aims to reduce carbon emissions by 30% by 2035 and achieve carbon neutrality by 2050. However, the company needs to disclose its baseline year and the reporting year for its emissions data to allow for an analysis of its progress against the targets. Baowu has not provided its total emissions and activity data necessary for emissions intensity calculations.

Baowu integrates green and low-carbon initiatives into its board of directors’ responsibilities and manages climate change issues through its Carbon Neutrality office. However, there is a lack of evidence regarding expertise within the board committee overseeing sustainability matters. The company has set goals to reduce carbon emissions by 30% by 2035 and achieve carbon neutrality by 2050. Its low-carbon strategy involves two primary paths: hydrogen-enriched carbonic oxide recycling oxygenate furnace (HyCROF) and hydrogen-based shaft furnace technology. When disclosing its total investment in energy conservation, the company does not provide financial viability assessments and the benefits associated with climate-related achievements. Additionally, the company has not conducted climate scenario analysis.

Baowu has publicly disclosed its research and development (R&D) expenditure for the past three years. However, no company activity has been observed related to patenting of low-carbon technologies. Additionally, there is a lack of quantitative data regarding the company’s investment in low-carbon technologies, in particular, a breakdown of its investments in both mature- and non-mature climate technologies.

Baowu does not publicly disclose a supplier engagement policy. There is no evidence that the company has recent and current activities in supplier engagement, and there is no disclosure available on the impact of such activities.

Baowu does not publicly disclose its emissions data. The company aims to reduce carbon emissions by 30% by 2035 and achieve carbon neutrality by 2050. Nevertheless, it needs to report the baseline year for its targets and the reporting year for its emissions data to allow for tracking its progress. The company has not developed a vision of what its business will look like in a low-carbon future.

The company has set goals to reduce carbon emissions by 30% by 2035 and achieve carbon neutrality by 2050. Its low-carbon strategy involves two primary paths: HyCROF and hydrogen-based shaft furnace technologies. However, the company does not report financial viability assessments and the benefits associated with its climate-related achievements. Additionally, it has not conducted climate scenario analysis. The company urgently needs to implement a low-carbon strategy that includes financial estimations and associated costs, as well as set out short- and long-term action plans.

Baowu does not disclose any emissions intensity or absolute emissions data to analyse its emissions performance to date. There is also no evidence that the company has a strategy to engage its clients and suppliers to reduce emissions.

Baowu does not provide information regarding its low-carbon capital expenditure and low-carbon mitigation R&D. The company also does not disclose whether it is creating or expanding low-carbon business models or implementing actions to decarbonise activities within its existing business models.

Baowu does not have a transition plan and there is no evidence it intends to develop one in the near future.

The company publicly discloses a commitment to engaging in social dialogue with workers and unions. However, no relevant disclosure was found regarding the categories of stakeholders it engages with on a just transition. Nor was there any evidence to show 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 relevant disclosure was found of the company’s assessment of employment dislocation risks. The company discloses its actions to provide reskilling, training and education opportunities for workers and affected stakeholders. For instance, it has launched an industry and education-integrated internship and training programme at its Echeng Iron & Steel and Wuhan Engineering facilities. Additionally, it has conducted extensive face-to-face and live broadcast training programmes on energy conservation and emissions reduction, involving 26 training initiatives with 3,580 participants, as well as facilitated skills training for less privileged people. 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 the impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to their 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 company policies or commitments 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.

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.   However, the company reports some indicators of workforce diversity, such as age.

No company policies or commitments related to key ethical business topics – personal data protection, 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 business relationships.