The United Nations initiated Sustainable Development Goals (SDGs) in 2015 and established 17 issues and goals related to global sustainable development. The SDGs help corporates assess whether its product development is in line with global needs. In 2022, in the spirit of P.R.I.MAX, we will first formulate an ESG strategy blueprint of Primax to correspond to seven United Nations Sustainable Development Goals (SDGs) and plan to carry out corresponding action plans under this blueprint, while setting performance indicators for each responsible unit based on the blueprint, to allow ESG to be part the Company’s operations, thereby achieving sustainable development. Setting 2022 as the base year to 2030 , we have divided our sustainability strategy into three main dimensions and eight strategic perspectives. Under these eight facets, we have formulated 29 specific sub-goals, with each goal clearly defining its scope to ensure accurate evaluation of implementation effectiveness.
Primax joins (April 29, 2022) RE100 with aims of using 100% renewable energy for its global operations by 2040. In addition, Primax has pledged to achieve carbon neutrality by 2040, a decade earlier than called for in the Paris Climate Agreement, and is fully committed to emissions reduction consistent with limiting global warming to 1.5°C.For years, Primax has been eco-conscious and an active participant of environmental affairs, as various measures have been implemented in its business operations to promote sustainability. In efforts to reduce its environmental footprint, Primax has laid out stringent targets and deadlines for production and operations, as all seven manufacturing sites are certified by ISO14001 for environment management, ISO5001 for energy management, ISO14046 for water footprint and ISO14064-1 for greenhouse gas emissions and removal. Climate change is the defining crisis of our time, and we must accelerate planning and targets needed to address it. Joining RE100 is a milestone and declaration of Primax’s commitment to achieve carbon neutrality. The next phase would develop eco-designs and green manufacturing, and cooperate with supply chains to collectively tackle the climate change issues.
In the face of global warming, extreme climates and in response to rising awareness. In the face of global warming, extreme climates and in response to rising awareness of environmental protection, energy efficiency, health and safety and conservation, the Company refers to the Task Force on Climate-Related Financial Disclosures (TCFD)framework published by the Financial Stability Board (FSB) in order to establish a risk framework according to the four core elements for TCFD reporting (i.e., "Governance" ,"Strategy", "Risk management", and "Metrics and targets"), identify material risks and opportunities for operation and develop corresponding strategies. We periodically publish independent TCFD report, releasing both Chinese and English versions.
2050 Net-Zero Pathway
Since 2016, Primax Group has been actively setting greenhouse gas reduction targets to mitigate the impacts of climate change. Going a step further, we've adopted the Science-Based Targets (SBT) approach, aligned with the global 1.5°C warming control, to establish the next phase of carbon reduction goals for the Group. Specifically, for Scope 1 and Scope 2 emissions, using 2019 as the baseline year, we aim to reduce GHG emissions (CO2e) by 30% by 2025. Moreover, our commitment to using renewable energy will continue, with a target of renewable energy constituting 60% of the total electricity consumption by 2030. Ultimately, our long-term aspiration is to achieve net-zero emissions by 2050.
Other International Initiative
Engagement in Public Associations
Primax actively participates in international initiatives, corporate sustainability, and climate change activities in response to climate change issues. Additionally, in pursuit of operational-related businesses, expanding areas of interest, compliance with regulations, fostering partnerships, and talent development, we join public associations relevant to these issues.
Primax maintains political neutrality, not endorsing any political party, political movements, organizations, or candidates. We neither engage in nor encourage lobbying activities and do not provide funds for such purposes. All expenditures are directed towards association dues or donations to tax-exempt organizations.