SDGs

The United Nations adopted the Sustainable Development Goals (SDGs) in 2015 and established 17 issues and goals related to global sustainable development. Sustainable development goals can help companies evaluate whether product development and sustainable actions can correspond to world goals. In the spirit of P.R.I.MAX, Primax has formulated its sustainability strategy roadmap in 2022 and responded to the 7 United Nations Sustainable Development Goals(SDGs), expecting to launch the corresponding action plans under the roadmap. The sustainability strategy roadmap consists of three major standards, 8 strategic dimensions and 29 detailed goals. Based on the roadmap,we set the performance indicators of each responsible unit and defined the scope of each goal, in order to ensure that the implementation effectiveness can be evaluated more accurately, implement sustainability into corporate operations more thoroughly.

RE100

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 involve an alignment with SDGs to formulate goals, develop eco-designs and green manufacturing, and cooperate with supply chains to collectively tackle the climate change issues.

TCFD

While facing the issues of global warming, extreme climate, environmentalprotection and energy saving, safety and health as well asincreasing awareness on conservation, Primax monitors the globalclimate trends and international responses closely and also includesclimate change as one of the material issues and risks in relation tocorporate sustainability. Ongoing analysis and control are underwayto mitigate and adapt to greenhouse gas (GHG) emissions.

Since 2021, we have officially signed to become one of the TCFD Supporters. According to the TCFD framework, we identify risks and opportunities that may cause impact on the business operation, and to propose relevant response strategies, which have been published in the“Task Force on Climate-related Financial Disclosures (TCFD) Report”for the first time in 2022. 

In 2023, Primax continued to prepare the TCFD Report according tothe TCFD disclosure framework and with references to the InternationalFinancial Reporting Standards S2 (IFRS S2) announced by theInternational Sustainability Standards Board (ISSB). This report is PrimaxGroup’s third edition of TCFD Report.

SBTi and 2050 Primax Group's path to net-zero.

Primax is active in connecting to the international initiatives and internationally recognized methods, and also uses the method specified in the Science Based Targets initiative (SBTi) as the basis for Primax’s climate change-related indicator and goal assessments. In addition, Primax also convenes goal meetings in order to perform follow-up, review and establish necessary measures for the“Plant Site’s GHG Emissions Intensity Performance and Goal Difference”.

In 2023, the Company has set up the goal of complying with the 1.5° C emissions reduction pathway for the main production locations of Primax Kunshan and Primax Chongqing according to the method specified by SBTi, and the plant sites also officially qualified the SBTi certification in the same year. Furthermore, the Company also submitted the SBT 1.5℃ long-term net zero commitment in January 2024 and qualified the review. The goal is expected to be submitted at the end of 2024. GHG emissions reduction will be implemented for the Primax Group according to the net-zero goal qualifying the SBTi review, in order to head toward the goal of net-zero emissions by 2050.

Other International Initiative

Public Associations

In response to climate change, Primax actively participates in international initiatives and engages in corporate sustainability and climate change activities. Additionally, to enhance our operations, expand focus areas, and comply with regulations, as well as to foster collaboration with business partners and talent development, we have joined various industry associations related to these issues. We maintain political neutrality, refraining from supporting any political party, movement, organization, or candidate. We do not participate in, encourage, or fund lobbying activities; all expenditures are dedicated solely to association membership fees or donations to tax-exempt organizations.