Good company behavior guide —— Youfa Group promotes sustainable development (ESG) work solid development
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- Issue Time
- May 29,2024
Summary
Youfa Group resolutely integrates the concept of sustainable development into the company's development strategy and business management activities, continuously strengthens ecological environment protection, fulfills social responsibilities, and improves corporate governance.
On May 27th, Youfa Group held the 2024 Sustainable Development (ESG) Work Promotion Conference. Jin Donghu, Secretary of the Party Committee of the Group, Guo Rui, Secretary of the Board of Directors, and leaders of various management centers and Youfa Supply Chain attended the meeting. Before the meeting, Chairman Li Maojin, General Manager Chen Guangling, Party Secretary Jin Donghu, Deputy General Manager Liu Zhendong and other group leaders listened to the report on the plan to implement the concept of sustainable development (ESG), and clearly instructed to deepen the relevant work and carry out it solidly in 2024.
Guo Rui emphasized at the ESG promotion meeting that "ESG reports are a behavioral guide for good companies and a more comprehensive display of value." He carefully interpreted the key points of the Shanghai Stock Exchange's Self Regulatory Guidelines for Listed Companies No. 14- Sustainable Development Reports (Trial) (hereinafter referred to as the "Guidelines") released on April 12, 2024, and briefly compared and analyzed the ESG report disclosure rules system at home and abroad. As a listed company on the main board of the Shanghai Stock Exchange, Youfa Group resolutely implements the requirements of the Guidelines, integrates the concept of sustainable development into the company's development strategy and business management activities, continuously strengthens ecological environment protection, fulfills social responsibilities, and improves corporate governance. It continuously enhances its corporate governance ability, competitiveness, innovation ability, risk resistance ability, and return ability, promotes its own and economic and social sustainable development, and gradually strengthens its positive impact on the economy, society, and environment.
According to the work requirements of the Guidelines and in combination with the actual situation of the enterprise, Youfa Group has established and improved the organizational structure of sustainable development (ESG) work. Firstly, a "Board Strategy and ESG Committee" has been established at the board level, responsible for the top-level design of ESG management for Youfa Group; Secondly, a leadership group for sustainable development (ESG) has been established at the operational management level, with the chairman serving as the group leader, the general manager and party secretary serving as deputy group leaders, and the deputy general manager and board secretary serving as team members, responsible for organizing and promoting ESG management; Thirdly, at the specific implementation level, an environmental management working group, a social responsibility working group, and a standardized governance working group have been established. Each management center of the group has assigned tasks and collaborated on 21 issues in accordance with the three dimensions specified in the Guidelines, as well as independently set characteristic issues. Each subsidiary company has cooperated and improved various ESG work contents in accordance with the group's deployment. In daily work, the Party Secretary takes the lead in overseeing the overall situation, while the Group Secretary's Office coordinates work and organizes business training. Each management center formulates measures and plans according to professional division of labor and promotes them in detail. Each subsidiary company is responsible for implementing them on the front line of operation. The whole group takes unified action and solidly works, actively conveying positive social value orientation.
Finally, Jin Donghu gave instructions to Youfa Group to solidly carry out sustainable development (ESG) work: firstly, attach great importance to it, The work requirements and letter reports of ESG are the "behavioral guidelines for good companies". Youfa Group should be a "good company" and a "respected and happy enterprise". Each management center and subsidiary company should effectively carry out and improve their work in accordance with the ESG concept; Secondly, study diligently and truly understand the work philosophy and policy rules of ESG. The Secretary General's Office should continue to organize training and strengthen communication and coordination; Thirdly, we must work solidly, correctly apply ESG concepts to guide our work and improve our capabilities, and promote the achievement of practical results in various businesses in accordance with the requirements of high-quality and sustainable development.
On April 19, 2024, Youfa Group disclosed its first "Youfa Group 2023 Sustainable Development Report" along with its annual report, opening a new chapter in sustainable development (ESG) information disclosure related to environmental protection, social responsibility, and normative governance. On this basis, Youfa Group will actively follow the latest guidance requirements of regulatory authorities, continue to strengthen the foundation of ESG management, increase efforts to identify gaps and make improvements, actively improve work measures, and strive to improve ESG level and information quality.
With the mission of “promoting the healthy development of the industry and promoting the happy growth of employees”, Youfa Group is determined to become a "global pipeline system expert" and is striving to move forward along the new ten-year strategy of "moving from millions of tons to billions of yuan, becoming the world's strongest lion in the pipeline industry". It is in a critical stage of achieving new results in national layout and actively exploring overseas layout, The solid implementation of ESG work will continue to inject surging momentum into the implementation of Youfa Group's strategy, showcase its advantages, and consolidate its leading position in the industry!