TYSAN HOLDINGS LIMITED
泰 昇 集 團 控 股 有 限 公 司
(Incorporated in Bermuda with limited liability) (Stock Code : 687)
Environmental, Social
and Governance Report
2024
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
Table of Contents
Pages | |||
1. | Company Profile | 2 | |
2. | About this Report | 2 | |
2.1. Reporting Standard, Period and Scope | 2 | ||
2.2. Access and Response to this Report | 3 | ||
3. | Board's Statement | 3 | |
4. | Ongoing Communication with Stakeholders | 4 | |
5. | Supporting the United Nations Sustainable Development Goals | 6 | |
6. | Sustainability in Operations | 10 | |
6.1. | Responsible Sourcing | 11 | |
6.2. | Energy Efficiency | 11 | |
6.3. | Water Conservation | 16 | |
6.4. | Waste Management | 17 | |
6.5. Mitigation of Environmental Impacts | 19 | ||
6.6. Implementing Good Environmental Mitigation Measures at | 21 | ||
Construction Sites | |||
6.7. Climate Change and Climate-related Disclosures | 22 | ||
7. | Value Creation for People | 27 | |
7.1. Developing a Workplace Safety Culture | 28 | ||
7.2. Recruiting and Retaining Talents | 29 | ||
7.3. Adhering to Business Ethics | 31 | ||
7.4. Building a Harmonious Workplace | 32 | ||
8. | Striving for Operational Excellence | 33 | |
8.1. | Quality Assurance | 34 | |
8.2. | Sustainable Site Management | 34 | |
8.3. | Innovative Technology | 37 | |
8.4. | Complaint Handling Mechanism | 38 | |
9. | Caring for Community | 39 | |
10. | Way Forward | 39 | |
11. | ESG Content Index | 40 |
Environmental, Social and Governance (ESG) Report 2024 | 1 |
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
1. Company Profile
Tysan Holdings Limited (the "Company", together with its subsidiaries the "Group") has been listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 1991 (Stock Code: 687). The principal businesses of the Group include foundation piling and site investigation, property development and investment, and investment businesses. The Group believes that sustainable development is the foundation to high- quality property development and foundation works.
2. About this Report
2.1. Reporting Standard, Period and Scope
This report was prepared in accordance with the Environmental, Social and Governance ("ESG") Reporting Code set out in Appendix C2 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). Information regarding corporate governance is included in the section of the corporate governance report in the annual report of the Company prepared according to Appendix C1 of the Listing Rules.
This report covers the Group's ESG-related from 1 January 2024 to 31 December 2024 (the "Reporting Period"). The Group strictly adheres to the principles of materiality, quantitative, balance and consistency to report on the relevant measures and performances during the Reporting Period.
REPORTING PRINCIPLES
Materiality
Quantitative
Balance
Consistency
APPLICATION
To identify the material ESG-related issues related to the Group, we conducted stakeholder engagement surveys to collect opinions from management, general staff and stakeholders like suppliers. We incorporated the material ESG issues into the Group's core business strategy.
The Group discloses its ESG performances in a quantitative manner to allow assessment and comparison of performance over time. Definition and calculation formulae are clearly explained for better understanding by the stakeholders.
The Group prepares this report based on balanced and fair information and discloses the achievements and challenges of the ESG performance in a transparent manner.
This report is prepared in accordance with the Appendix C2 Environmental, Social and Governance Reporting Code issued by the Stock Exchange to provide consistent and comparable disclosures.
The reporting boundary and scope of this report covers the Group's operations involving foundation piling in Hong Kong only, including the head office and 22 construction sites.
The Group has appointed Allied Sustainability and Environmental Consultants Group Limited (Stock Code: 8320) as an independent consultant (the "Consultant") to provide ESG consultancy and reporting services.
2 Environmental, Social and Governance (ESG) Report 2024
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
2.2. Access and Response to this Report
The electronic versions of this report (in both English and Chinese versions) are available on the websites of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and the Company (www.tysan.com), under the section "Investor Relations". If there is any conflict or inconsistency, the English version shall prevail.
To continue to improve the Group's sustainability strategies, we welcome any feedback and suggestions from our stakeholders. If you have any comments or enquiries, please contact the Group at:
Tysan Holdings Limited
20/F, One Island South
2 Heung Yip Road, Wong Chuk Hang
Hong Kong
Tel: (852) 2882 3632
E-mail: info@tysan.com
3. Board's Statement
The board of directors of the Company (the "Board") is fully responsible for the oversight and decision-making of the Group's ESG governance and is committed to integrating ESG considerations into the business operations and improving sustainability performance through resource optimisation.
To address ESG issues, the Group takes a top-down management approach. The Board is responsible for developing strategic plans and action plans for ESG issues, as well as reviewing and discussing target-setting, performance, ESG-related risks and opportunities. Through an internal Integrated Management System ("IMS"), the Group has established several environmental and social policies that integrate sustainability principles into its daily operations. These policies and IMS aim to protect the environment, promote the well-being of the staff and the community, manage risks in relation to quality, environmental, occupational health and safety, and energy aspects. To ensure that appropriate and effective policies and measures are in place, the management, under the leadership of the Board, is responsible for reviewing the Group's ESG practices, coordinating with different departments to implement the ESG approaches, policies and action plans of the Group, and making recommendations to the Board for decision-making. The audit committee of the Board (the "Audit Committee") reviews the risk exposure of the Group, including ESG risks, assesses the corresponding risk response and mitigation strategies, and reports its recommendations to the Board. The Company has also invited the management, general staff and stakeholders like suppliers to take part in an annual stakeholder survey, which aims to gather their perspectives on various ESG topics. With their valuable insights, the Company is better positioned to make informed decisions on allocating resources on major material ESG matters and ensure that appropriate and effective policies and measures are in place. In addition, to enhance operational efficiency and minimise environmental impacts, the performance and progress against relevant targets are regularly reviewed by the Board and disclosed in the ESG report annually.
As a foundation contractor, the Group recognises that its operations can have inevitable impacts on the environment. However, the Group is dedicated to protecting the environment and contributing to the society. The Hong Kong Council of Social Service has honoured the Group with the renowned "10 Years+ Caring Company" award, recognizing the Group's continuous efforts in creating a positive impact on the society and environment. Besides, as a demonstration of the Group's ongoing dedication to promoting long-term sustainability and its proactive efforts in addressing global environmental and social issues, the Group has mapped relevant United Nations Sustainable Development Goals ("SDGs") to its business strategy and operation during the Reporting Period.
With the support and trust of the stakeholders, including customers, suppliers, employees, shareholders, investors, business partners and the local community, the Group will continue to make progress in achieving ESG-related targets and creating sustainable value for its stakeholders.
Environmental, Social and Governance (ESG) Report 2024 | 3 |
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
4. Ongoing Communication with Stakeholders
The Group recognises the importance of stakeholders' participation for the continuous improvement of its sustainability performance. To understand the opinion of its stakeholders on its operations and ESG-related issues, the Group maintains close communication with different stakeholders which benefits the Group's business development by addressing and prioritising the issues that stakeholders are more concerned about. By incorporating stakeholders' perspectives, the Group has optimized its resource allocation, enabling it to effectively tackle the identified critical issues.
The Group appointed the Consultant to identify and review various ESG issues and the following major issues were identified:
Construction waste
management
Construction material
Wastewatermanagement and
managementselection
Quality assurance
SOCIAL ASPECT
Community | Labour standard |
involvement |
Water consumption | Construction | Occupational | Diversity and equal | Development | |||||
and conservation | noise | health and | opportunity | and training | |||||
safety | |||||||||
Compliance with | |||||||||
Responding to | relevant socioeconomic | Employment | Supply chain | ||||||
climate change | laws and regulations | management | |||||||
ENVIRONMENTAL | |||||||||
ASPECT | |||||||||
Air quality | Energy usage and | Anti-corruption | Protecting intellectual | Protecting customer | |||||
property rights | privacy | ||||||||
control | conservation | ||||||||
Compliance with | On-going | ||||||||
Hazardous waste | relevant environmental | General waste recycling | communication | Sustainable development | |||||
management | laws and regulations | and management | channels with the | ||||||
stakeholders | framework |
Greenhouse gas | Disclosure on |
stakeholders' opinions | |
("GHG") | |
and the Group's | |
emission | |
responses | |
SUSTAINABILITY
GOVERNANCE
Setting up a
Sustainability
Committee
Sustainability
targets
4 Environmental, Social and Governance (ESG) Report 2024
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
The Group consolidated views on the importance of ESG-related topics to the Group's business operations through an online stakeholder survey in the Reporting Period. A comprehensive internal ranking of the ESG-related topics resulting from the surveys was identified as follows:
ENVIRONMENTAL
Compliance with relevant | Air quality control | Construction noise |
environmental laws and | ||
regulations |
SOCIAL
Occupational health | Anti-corruption | Protecting customer privacy |
and safety |
SUSTAINABILITY
GOVERNANCE
Responding to climate change | Sustainability targets | Sustainable |
development | ||
framework |
The Group has incorporated these ESG-related issues and the internal ranking of the ESG-related topics into its core business strategy, as well as addressing them in this report. To strive for improvements in sustainable development, the Group will maintain continuous engagement and communication with its stakeholders.
Environmental, Social and Governance (ESG) Report 2024 | 5 |
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
5. Supporting the United Nations Sustainable Development Goals
During the Reporting Period, the Group aligned its sustainability efforts with the SDGs and reinforced its commitment to sustainable practices, contributing to global sustainability targets.
By integrating SDGs into its business, the Group aims to drive positive change and reduce negative impacts by promoting health and well-being in the workplace, increasing the use of renewable energy, upholding labour rights and equal opportunities, fostering innovation, maximising material efficiency and combating climate change.
The Group has mapped and identified 10 SDGs and 12 related targets that are most relevant to its business nature and impact areas. The following table summarises these identified targets, objectives, practices and actions of the Group:
Mapped SDGs | Targets of the SDGs | The Group's | The Group's |
Objectives | Practices and Actions | ||
Goal 3: Good | 3.8: Achieve universal | Provide employees | In the case of any work-related |
Health and | health coverage, | access to effective | accidents causing injuries to employees, |
Well-being | including financial | and high-quality | the Group arranges timely private |
risk protection, access | medical care, | medical care (when appropriate) and | |
to quality essential | including all relevant | covers all relevant medical expenses | |
health-care services to | medical expenses (if | under the Group's rehabilitation | |
employees. | applicable). | scheme to assist recovery. The medical | |
care includes X-ray service, MRI | |||
examination and physiotherapy. | |||
3.9: Reduce the | Reduce and properly | To mitigate the risk of illnesses caused | |
number of deaths and | handle emissions | by air pollutants, the Group has taken | |
illnesses caused by | to mitigate adverse | measures to install sensors to monitor | |
hazardous chemicals | impacts on human | air quality at all construction sites. | |
and air, water and | health and the | Additionally, chemical waste has also | |
soil pollution and | environment. | properly collected and stored to prevent | |
contamination. | any contamination or environmental | ||
pollution caused by leakage. During the | |||
Reporting Period, no deaths or illnesses | |||
attributed to environmental pollution | |||
were reported. |
6 Environmental, Social and Governance (ESG) Report 2024
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
Mapped SDGs | Targets of the SDGs | The Group's | The Group's |
Objectives | Practices and Actions | ||
Goal 6: Clean | 6.4: Increase water- | Increase water-use | To increase water-use efficiency, the |
Water and | use efficiency and | efficiency by reducing | Group has embedded ISO 14001:2015 |
Sanitation | ensure sustainable | unnecessary water | Environmental Management Systems |
withdrawals and | consumption. | into its IMS framework to reduce water | |
supply of freshwater to | consumption. For instance, the Group | ||
address water scarcity | has installed on-site water storage tanks | ||
and substantially | equipped with water meters to regularly | ||
reduce the number of | monitor water withdrawal. The Group | ||
people suffering from | also conducts regular toolbox talks | ||
water scarcity. | and training programmes for frontline | ||
workers to raise their awareness of | |||
water conservation. |
Goal 7: Affordable | 7.2: Increase | |
and Clean Energy | substantially the share | |
of renewable energy in | ||
the energy mix. | ||
Increase the utilisation of renewable energy to reduce dependence on fossil fuels.
The Group is committed to exploring clean energy sources. During the Reporting Period, the Group installed solar panels at 9 site offices to power the lighting systems by solar energy.
Environmental, Social and Governance (ESG) Report 2024 | 7 |
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
Mapped SDGs | Targets of the SDGs | The Group's | The Group's | |
Objectives | Practices and Actions | |||
Goal 8: Decent | 8.5: Achieve full | Ensure all employees | The Group has strictly complied with | |
Work and | and productive | receive fair | the Minimum Wage Ordinance, | |
Economic Growth | employment and | remuneration, safe | Employees' Compensation Ordinance, | |
decent work for all | working environment | Mandatory Provident Fund Schemes | ||
women and men, | and opportunities for | Ordinance, anti-discrimination | ||
including for young | development based | ordinances and other relevant | ||
people, and equal | on their qualification, | regulations protecting employees in | ||
pay for work of equal | experiences and | terms of remuneration, compensation | ||
value. | capability, avoiding | and social security. The Group has | ||
any discrimination | ensured that all employees receive fair | |||
related to factors such | remuneration. | |||
as race, gender, age | ||||
and religion. | ||||
8.8: Protect labour | Pursue zero | The Group considers work safety as | ||
rights and promote | fatality and work- | its first priority and has obtained ISO | ||
safe and secure | related injury while | 45001:2018 Occupational Health | ||
working environments | eliminating all forms | and Safety Management Systems | ||
for all workers. | of forced and child | certification to ensure safe working | ||
labour. | environments. Upholding the principle | |||
of safeguarding labour rights, no | ||||
instances of illegal labour practices were | ||||
identified during the Reporting Period. | ||||
The Group takes all necessary measures | ||||
to prevent the use of forced labour and | ||||
child labour. The Human Resources | ||||
and Administration Department (the | ||||
"HR Department") is responsible for | ||||
verifying candidates' identification | ||||
documents prior to official employment | ||||
to comply with the applicable rules | ||||
and regulations, and to prevent the | ||||
engagement of child and forced | ||||
labour. With regard to any illegal | ||||
labour practices, the HR Department | ||||
shall terminate the employment and | ||||
take appropriate follow-up actions | ||||
immediately. | ||||
Ensuring a safe and healthy working | ||||
environment is a top priority for the | ||||
Group. The Group achieves this by | ||||
enforcing stringent safety protocols | ||||
and providing appropriate personal | ||||
protective equipment to workers | ||||
when appropriate. Safety officers are | ||||
appointed to monitor the safety issues | ||||
of the construction sites and ensure | ||||
preventive measures in the safety plan | ||||
are well implemented. Regular safety | ||||
activities including site safety meetings, | ||||
safety inspections and safety trainings | ||||
also help employees understand the | ||||
importance of workplace safety and | ||||
their roles in upholding it. |
8 Environmental, Social and Governance (ESG) Report 2024
Tysan Holdings Limited
Environmental, Social and Governance (ESG) Report
Mapped SDGs | Targets of the SDGs | The Group's | The Group's | |
Objectives | Practices and Actions | |||
Goal 9: Industry, | 9.5: Enhance scientific | Enhance efficiency in | Innovative strategy is a key part of the | |
Innovation and | research, upgrade | project management | Group's daily operations. During the | |
Infrastructure | the technological | and delivery by | Reporting Period, the Group integrated | |
capabilities. | implementing | various innovative technologies, such | ||
innovation and | as Building Information Modelling | |||
technology. | (BIM) (in over approximately 45% of | |||
its projects), 360 Camera and Alerting | ||||
System on Mobile Plant. | ||||
Goal 10: Reduce | 10.3: Ensure equal | Enforce equal | The Group prioritises fairness in | |
Inequalities | opportunity and | opportunities for | the workplace and strives to provide | |
reduce inequalities | employees and foster | equal opportunities while preventing | ||
of outcome, | anti-discrimination | discrimination by adhering to relevant | ||
including eliminating | culture in the | rules and regulations. During the | ||
discriminatory laws, | workplace. | recruitment process, the Group | ||
policies and practices | assesses the potential candidates by | |||
and promoting | their qualification, experiences and | |||
appropriate legislation, | capability, regardless of their race, | |||
policies and action in | gender, age, religion or any other | |||
this regard. | irrelevant factors to the job positions. | |||
The Group firmly upholds a zero- | ||||
tolerance policy towards any form of | ||||
discrimination within the workplace. | ||||
Goal 11: | 11.6: By 2030, reduce | Reduce waste | The Group is committed to promoting | |
Sustainable Cities | the adverse per capita | generation through | resource utilisation and reducing | |
and Communities | environmental impact | waste management | waste generation through sound waste | |
of cities, including | strategies. | management practices. | ||
by paying special | ||||
attention to air | ||||
quality and municipal | ||||
and other waste | ||||
management. | ||||
Goal 12: | 12.5: Reduce waste | Divert waste away | The Group's waste management | |
Responsible | generation through | from landfill to | approach is based on the 4R principles: | |
Consumption and | prevention, reduction, | minimise the wastage | reduce, reuse, recycle and replace. | |
Production | recycling and reuse. | of resources. | During the Reporting Period, the | |
Group disclosed the quantities of | ||||
recycled paper, plastic, and metals | ||||
separately to enhance the efficiency of | ||||
the waste stream monitoring. | ||||
Environmental, Social and Governance (ESG) Report 2024 | 9 |
