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USI Ranks Highest in TCFD Among Participating Chinese-Listed Companies
The 2022 Task Force on Climate-Related Financial Disclosures (TCFD) Analysis Report is the industry’s first official assessment of TCFD in China. Only the top 11 out of the 92 participating companies were rated BBB, and USI was one of them with the highest rating.
At the seminar, JP Shi, SVP and secretary of the Board of Directors of USI, shared the company’s practices and experience in TCFD. USI follows a “Low Carbon, Circular, Inclusive, and Collaborative” sustainable strategy and takes comprehensive actions in response to the United Nations Sustainable Development Goals (SDGs). The company carries out TCFD-related activities based on its “low carbon” strategy and builds its climate-related management approach on the four pillars of the TCFD framework, including governance, strategy, risk management and metrics and targets, assesses relevant risks and opportunities accordingly, and formulates a complementary plan. JP said, “proper carbon disclosure helps the board of directors and management to assess the potential impacts of climate-related risks and opportunities and develop strategies to deal with them, and therefore enhances stakeholder and investor confidence in the sustainable development of our company.”
USI’s vision is to be the “most reliable provider” of manufacturing services. Since its first corporate social responsibility (CSR) report was released in 2010, USI has continued its CSR and ESG for over 13 years. To implement its “low carbon” strategy, the company formulated net zero-carbon emission targets in 2021, aiming to adopt internal carbon pricing in 2030, use 100% renewable energy in manufacturing plants in 2035, and ultimately achieve the goal of net-zero carbon emissions in 2050.
Jeffrey Chen, chairman of the company, shared his views on the ESG agenda internally, “We strive to Think Responsibly, Learn Deeply and Work Productively with sustainable development in mind.” USI will stay true to its original aspiration, implement its “low-carbon” strategy, and achieve high-quality growth and sustainable development