2020 Noah Sustainability Report
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Report Parameters This is the seventh Sustainability Report of Noah Holdings Limited (hereinafter referred to as "Noah" or "we/ us"). Our purpose of releasing this annual sustainability report is to inform interested stakeholders of our efforts that have been made in pursuing sustainable economic, environmental, and social values. We also encourage more companies to engage in public dialogue, helping us to create a more harmonious environment along with us. Scope of Report This report covers the year of 2020 (from January 1 to December 31), and discloses Noah's management philosophy on corporate governance, society, and environment, as well as our performance and achievements related to those material topics. Only information and data related to Noah's headquarters have been released in this report. Nonetheless, we will gradually expand the scope of such information and data to fully cover those of our subsidiaries and our affiliated entities in the near future. To fully demonstrate Noah's achievements in corporate social responsibilities, we have laid out our specific actions and progress in detail, dating back to 2018 and up till 2021. Reporting Standards This report has been compiled in accordance with the Global Reporting Initiative (GRI) and AA1000 (2008) standards, and is consistent with the Core option of the GRI Standard. Reporting Period Our annual reports are published in both Chinese and English and an e-version will be available on our website for your consultation or downloads. The previous report was released in June 2020. The next report will be released in April 2022. Comments and Feedback Should you have any comments or suggestions regarding this report, please feel free to contact us: Contact: Zhou Bingxing Address: Building C, East Pier Park, Qinhuangdao Road, Yangpu District, Shanghai Email: [email protected] Website: www.noahgroup.com 1 2020 Noah Holdings Ltd. Sustainability Report Table of Contents TABLE OF Report Parameters 1 The Essential ESG Performance 12 CONTENTS Message from our Chairwoman 4 GRI Standards Index 124 6 About Noah 64 Professionalism Global Presence 10 Human Capital 65 Organizational Optimization & Talent Management 69 Corporate 14 Diversified Development, Governance Recruitment & Retention 71 Board of Directors 19 Competitive Compensation Scheme 73 Compensation Management 22 Professionalism - Comprehensive Training Strategies 75 Comprehensive Caring System 83 24 Integrity Anti-Bribery and Anti-Corruption 31 Fostering 92 Legal and Compliance 37 Innovation "Client Centric" 94 32 Sustainable Investor Education 97 Management Digital Services 100 Sustainable Management 33 Privacy and Data Security 102 Sustainable Financing 40 Sustainable Operation 45 Learning 108 Sustainable Environment 54 and Maturity Company-Wide Pandemic Preparation 111 Social Responsibility 115 Shanghai Noah Foundation 119 2 3 2020 Noah Holdings Ltd. Sustainability Report Message from our Chairwoman I Message from our Chairwoman I 2020 marks both the 15th anniversary of Noah’s In order to "get in the fast lane", Noah implemented internal strategic reforms in 2020. These included streamlining our incorporation and the 10th anniversary of our New organizational structure and reforming our personnel system. With "eyes on profitability", Noah has initiated drastic York Stock Exchange listing. From the first day of our reforms in our talent and development strategies. Eight committees responsible for sustainable development, client incorporation, Noah has been committed to long-term interests, science and technology & revolution, product, operation, talent, strategy, and ethic compliance respectively have sustainable value creation. As a leader in the wealth been established. Through these committees, we are able to implement collective leadership and decision-making. management industry in China, Noah manages funds By sticking to the notion of “rapidly growing through steady accumulation”, Noah has weathered the vicissitudes and from Chinese HNW individuals and families such as uncertainties brought by the pandemic. Thanks to the organizational reforms during this new journey, Noah's 2020 entrepreneurs, who tend to have high demands on quality performance was way beyond expectations, receiving recognitions from our clients and the society at large. With an service and fund security. For this reason, fiduciary duty and over 100% increase since the trough, our stock continuously delivered strong performances throughout 2020. value creation are engrained in our culture. As a China-based comprehensive financial services institution, Noah is on a mission of “enriching lives through The past twelve months have been challenging for wealth and wisdom”. This is reflected not only in our internal governances and customer services, but also in our everyone. The COVID-19 outbreak at the beginning of commitments to social and environmental sustainability. Noah has always pioneered in Green Offices, diversified last year brought huge challenges to the world. However, training, gender equality and health benefits. We also stick to the principles of respecting common senses, observing Noah quickly took initiatives amid the crisis. Not only market rules, managing risks and developing business ethics. Ms. Jingbo Wang did the whole company stick together to raise funds and Co-Founder and Chairwoman of the Board of Directors collect supplies for COVID affected areas, but we also On April 28, 2020, Noah Holdings and Gopher became official signatories of the UN-Supported Principles at Noah Holdings Limited initiated contact with clients online on the first day of for Responsible Investment (UNPRI). Since then, Noah has committed to responsible investment worldwide, Chinese New Year. Utilizing a wide array of resources and incorporated ESG criteria into our corporate governance, and implemented global environmental policies and training courses, ranging from pandemic information to sustainable development practices into our corporate strategy. We aspire to reach the ambitions of a “noble, wealthy, investment management, pandemic literature to corporate and happy life” alongside our clients, employees, and shareholders. For this purpose, we have formed a Sustainability management, and psychological reconstruction to parent- Committee and ESG Working Group so as to reinforce and implement our strategic ESG goals. In the future, we will child relationships, we reached out to and reassured our implement responsible investment principles by screening and promoting ESG investment products, enhancing ESG clients through the toughest days. At the same time, Noah's collaborations with stakeholders, and enacting relevant product development and investment strategies. Product Department staff liaised with our partners and counterparties to arrange exits in several funds, so as to 2020 sees China's "green" ambitions and achievements. President XI Jinping has emphasized on various important secure capital inflows and alleviate funding pressure from occasions that “China will continue to promote sustainable developments. China will fully implement the 2030 Agenda our entrepreneurial client. Our rapid response was well for Sustainable Development established by the UN. We will continue to improve on the ecological front, transforming received by clients. Even during the first two quarters and improving our industrial structure and energy mix at a faster pace while promoting a low-carbon green lifestyle. (in which we sustained the heaviest outbreaks of the China has announced its goal to hit peak emissions before 2030 and for carbon neutrality by 2060. Meeting these pandemic), Noah was able to maintain a stellar performance, targets will require tremendous efforts from China.” Anchored by our national policies, Noah will remain committed as exemplified by two highlights: a growing core client base to sustainable, robust, and efficient value creation, while pursuing long-term developments and cumulating our efforts (demonstrated by the growing number of Black Card clients made in these fronts. We will also fulfill our social responsibilities and contribute continuous efforts in promoting and their average AUM) and a low turnover rate among responsible investment and sustainable developments in society at large. elite wealth managers (5.1% - a small percentage relative to industry average). 4 5 2020 Noah Holdings Ltd. Sustainability Report About Noah ABOUT NOAH Corporate Culture and Development Guidelines Vision: To become a trustworthy partner by developing a deep understanding of our clients’ through relentless pursuit of professionalism and excellence. Mission: Enriching lives through wealth and wisdom Values: Client-centricity, Integrity, Professionalism, Embracing changes, Self- improvement, Passion NOAH—A Professional Comprehensive Financial Service Platform ounded in 2003, Noah was the first independent wealth Fmanagement company in Cina. Unlike traditional financial institutions, Noah is an comprehensive financial service provider that provides clients with onshore and offshore financial investment NOAH products, asset allocation advisory, and investment management Comprehensive services from the perspectives of our clients’ best interests. Wealth Management Asset Management Noah Intelligence Services Chinese Mainland: USD + RMB Robotic Advisors Insurance Brokerage Following years of rapid yet steady growth, Noah Holdings Limited 80 cities in four regions Private Equity Intelligent Financial Trust Service launched its initial public offering