Carbon Neutrality_Carbon Neutrality_Environmental_ESG

Carbon Neutrality

Build resilience to peak carbon emissions and achieve carbon neutrality.

Strive to peak carbon emissions by 2028 and achieve carbon neutrality by 2050

The Group’s Performance

The Group carried out comprehensive analysis and assessment of climate-related risks and opportunities based on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) to identify those considered critical and map out response measures. Moreover, the Group further improved the management of metrics and targets accordingly to ultimately cultivate a capability to address climate issues in the long term and enhance climate resilience.

The Group has been actively monitoring and recording greenhouse gas (GHG) emissions of each member company for continuous improvement.

Total GHG emissions (Scope 1 and Scope 2) in 2023 were approximately
1.546million tons,
a decrease of approximately 3.2% compared to 2022.
GHG emissions intensity (Scope 1 and Scope 2) in 2023 was
9.6tons/RMB million of revenue,
a decrease of approximately 7.8% compared to 2022.
The Group’s total energy consumption
in 2023 was approximately
3.678million MWh

Renewable energy consumption, consumed by Fosun Tourism Group (“FTG”), Forte, Fosun Pharma, and Hainan Mining, was approximately
39,406.1MWh
Energy consumption intensity in 2023 was
22.8MWh/RMB million of revenue,
a decrease of 5.9% compared to 2022.

Relevant Measures

Actively adopted energy-saving measures such as energy conservation & transformation, energy management, and optimized operation of energy equipment to reduce energy use, so as to reduce greenhouse gas emissions
Developed green and low-carbon products to reduce GHG emissions throughout the product life cycle, thereby reducing the cost of product exports and improving product competitiveness
Actively reduced stationary source GHG emissions through the electrification of energy equipment and the national power reform
Increased afforestation efforts to offset GHG emissions or develop carbon sink assets to increase company revenue
Actively used clean energy through electricity trading, photovoltaic roofs, fossil raw materials and fuel replacement to reduce indirect energy consumption and GHG emissions
Actively participated in carbon trading to increase income from energy conservation and carbon reduction, and reduce the cost of meeting emission standards for emission-controlled enterprises
Actively carried out green building design and operation to reduce building energy consumption and GHG emissions, reduce operating costs, and increase asset value
Actively developed carbon capture, usage and storage (CCUS) technology, exploring new sector for revenue growth

Carbon Neutrality Management

Carbon Neutrality Committee	The Carbon Neutrality Committee, composed of directors of the Group and member companies, is responsible for supervising and promoting the overall carbon neutrality strategy, and regulating and monitoring climate-related risks and opportunities.
Carbon Neutrality Working Group	The Carbon Neutrality Working Group, led by senior management of the Company's key departments involving carbon neutrality and responsible personnel of environmental protection department from Pilot Companies of Carbon Neutrality, is responsible for implementing and driving carbon neutrality tasks, and regularly reporting achievements to the Carbon Neutrality Committee.
Pilot Companies of Carbon Neutrality	Pilot Companies of Carbon Neutrality include Fosun Pharma, Yuyuan, FTG, Fosun Hive, Fosun Insurance Portugal, Peak Reinsurance, and Hainan Mining. Pilot Companies of Carbon Neutrality are required to incorporate the strategy of carbon neutrality into their daily operation and management, and to actively carry out carbon reduction work based on the selection of pathways and specific implementation measures applicable to their business sectors. Pilot Companies of Carbon Neutrality are required to specify the organizational structure, objectives, measures, timeframe, and responsible departments for managing carbon neutrality issues, and to establish a reward and punishment incentive mechanism, which is regularly evaluated and assessed by the Environment, Health, Safety & Quality (EHSQ) Department.