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COSCO SHIPPING Holdings Co., Ltd. Sustainability Report 2019 About the Report Contents About the Report About the Report About the Report Contents

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COSCO SHIPPING Holdings Co., Ltd. Sustainability Report 2019 About the Report Contents About the Report About the Report About the Report Contents COSCO SHIPPING Holdings Co., Ltd. Sustainability Report 2019 About the report Contents About the report About the Report About the report Contents Overview Time frame: January 1, 2019 to December 31, 2019 Organization Name: COSCO SHIPPING Holdings Co., Ltd. About the report 2 Release cycle: The Social Responsibility Report is released annually. The previous version was issued in March 2019, and the Statement of Chairman 3 issue date of this Report is March 2020. Outline of report disclosure 7 Guidance: This report is in line with the Environmental, Social and Governance Reporting Guide of the Hong Kong Stock Exchange About COSCO SHIPPING Holdings 11 (released in July 2015) and is based on the Global Reporting Initiative (GRI) Sustainability Reporting Standards 2016 and prepared by referencing the Core option. ：The entity disclosed in this report is carefully selected based on the selection criteria of “whether there is actual business Scope Sustainability governance operation” and the overall impact of the entity on COSCO’s environment, society and governance. The production units / companies Governance mechanism 17 with no actual business operation or with little or no impact despite actual operation are filtered out. According to our selection process, the report covers three first-tier subsidiaries (COSCO SHIPPING Lines, COSCO SHIPPING Ports and Orient Overseas (International) Stakeholders and material topics 18 Limited) as well as their affiliates in the financial statements. Should there be any exceptions, there will be description of specific sta- tistical methods and data dimensions in the corresponding chapters. For the list of specific companies, please refer to the report scope Economic topics in Appendix part. Reporting principles: the Report is prepared based on the following basic principles: Economic performance 23 Materiality – The Company believes ESG exerts significant influence on the investors and stakeholders, thus the Report should dis- close any important and significant ESG matter. Dual-brand effects and synergies 25 Response: We disclosed the process of identifying important environmental, social and governance factors in the report, including the Indirect economic impacts 26 identification of stakeholders, and the use of the importance matrix for the assessment of material issues. Based on the communica- Supplier Management 31 tion mechanism with stakeholders and the principle of materiality, we identified important ESG-related factors, focused on them, and Serving the customers 33 disclosed corresponding measures in the report. Quantitative – KPIs need to be measurable so that the effectiveness of ESG policies and management systems can be evaluated and Safe production 35 validated. Quantitative information should be accompanied by a narrative explaining its purpose and impacts with comparative data Compliance 37 where applicable. Response: We disclosed the environmental and social data in accordance with the requirements of the THE ENVIRONMENTAL, SO- CIAL AND GOVERNANCE REPORTING GUIDE and referred to the GRI2016 standard, then disclosed the calculation methods and Environmental topics assumptions of the data in the report. Energy conservation and emission reduction 45 Balance – The Report should provide an unbiased picture of the Company’s performance on ESG, and should avoid any selections, omissions, or misleading presentation that may inappropriately influence the readers on their decision making. Effluent and waste treatment 49 Response: We promise that the information disclosed in this report is true, objective, and not exaggerated or fictitious, which is to Environmental protection 49 maximize the information that can help investors make fair and effective decisions. Consistency – The Company should use consistent methodologies to allow for meaningful comparisons of ESG data over time. The Social Topics Company should disclose in the ESG report any changes to the methods used or any other relevant factors affecting a meaningful comparison. Employment and Diversity 53 Response: We used the same disclosure statistics method as in 2018 and compared the data in the report. Employee training and growth 54 Definitions: For the sake of readability, in this report, COSCO SHIPPING Holdings Co., Ltd. is referred to as “COSCO SHIPPING Holdings”, the “Company” or “We”, China COSCO SHIPPING Corporation Limited is referred to as “COSCO SHIPPING Group” or the Ensuring employees' occupational health and safety 56 “Group”, COSCO SHIPPING Lines Co., Ltd. is referred to as “COSCO SHIPPING Lines” or “CSL”, “COSCO SHIPPING Ports” Limited Protecting employee rights 57 is referred to as “COSCO SHIPPING Ports” or “CSP”，Orient Overseas (International) Limited is referred to as “OOIL”, “Orient Over- seas Container Line Ltd.” is referred to as “OOCL”. Employee care and assistance 58 Data: The data employed in this Report are from open government outlets and internal statistical reports of COSCO SHIPPING Hold- Contribution to public welfare 60 ings, as well as third-party investigations, interviews and other sources. External assurance: We invited DNV GL as the assurer to ensure the accuracy, balance, comparability, timeliness, clarity, and reliability of the Report. Appendix Access: Chinese and English digital versions of the Report are available on www.hkex.com.hk or http://hold.coscoshipping.com Index table for ESG 65 Contact information: If you have any question about the Report, please email [email protected] or call +86-021-35124888-211550. Special note：The economic data involved in this report is consistent with the data published in 2018 COSCO SHIPPING Holdings’ Index table for GRI 67 Annual Report, which means the data here is based on COSCO SHIPPING Lines, COSCO SHIPPING Ports and OOIL. Other environ- Statistical Table 73 mental data and social data involved in the report will be listed separately by companies. If for any reason the information is restated, we will indicate it as a footnote in the report. Report Scope 87 During the reporting period, the company’s operating position, business form, ownership and organizational structure did not change Independent assurance statement 89 significantly. 1 COSCO SHIPPING Holdings Co., Ltd. Sustainability Report 2019 2 About the report About the report reflected in the customer satisfaction survey, studied and found the advanced energy-saving and emission reduction technologies, Statement of Chairman cause one by one, and implemented the improvement plan. At the and effectively reduced fuel consumption through management same time, with the help of OOCL’s leading IT system, COSCO measures such as optimizing fleet structure, optimizing shipping SHIPPING Lines improved its booking platform functions, trans- routes, and improving ship operation efficiency in ports, thereby shipment operations and schedule management, and therefore reduced the impact of business operations on environmental and Statement of Chairman Statement of Chairman greatly improved its service reliability. carbon emission. Dear shareholders, Realizing better-than-expected synergies with the implementation In response to the new regulation on limiting sulphur emission First of all, on behalf of the Board and of the dual-brand strategy implemented worldwide by International Maritime Organization the management of COSCO SHIP- In 2019, the Company took the advantages of the scale and syn- (IMO) in 2020, the Company proactively studied and compared PING Holdings, I would like to ex- ergies after the acquisition of OOIL, and further tapped potentials various solutions, and decided to use low-sulphur fuel that com- press my sincere gratitude to all our in route network optimization, container management, supplier plies with the standards and install scrubbers on a small number shareholders and customers around procurement, and IT system construction. The dual-brand strat- of vessels to meet the requirement of new regulation. As at the the world for their continuous attention egy achieved significant results, and the total synergies realized in end of 2019, a total of 7 vessels of the Company’s dual-brand fleet and support to COSCO SHIPPING 2019 exceeded the target set at the beginning of the year. were retrofitted with scrubbers and put into operation. In the fourth Holdings. Meanwhile, I would also quarter of 2019, the Company’s all other vessels in operation were During the year, COSCO SHIPPING Lines and OOCL strength- like to thank all of our staff, onshore scheduled for tank cleaning and first filling of low-sulphur fuel on a ened the overall arrangement of shipping capacity to optimize and offshore, for their diligence, tena- route by route, ship by ship and tank by tank basis so as to ensure vessel types deployed for each route. Through the exchange of ciousness and joint efforts in helping that all the vessels in operation satisfy with the new requirements several vessels of different types by chartering, the fleet resources COSCO SHIPPING Holdings achieve before 1 January 2020. very good results over the past year. were fully utilized. The Company achieved dual-brand comple- mentary advantages in route planning. The intra-regional routes in Since the beginning of 2020, facing the sudden outbreak of COV- In 2019, the global economic and Europe are managed and operated by COSCO SHIPPING Lines, ID-19, COSCO SHIPPING Holdings has actively fulfilled its social trade situation faced severe challeng- and the Transatlantic routes are managed and operated by OOCL. responsibilities and made every effort
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