Yintai Gold: Room for Improvement on the Environmental and Social Fronts

4.89
36 ratings

Yintai Gold (formerly Yintai Resources) is a China-based company engaged in the mining and metal trading of precious metals and non-ferrous metals. Its mineral resources include mainly gold mines, silver-lead concentrates, and zinc concentrates. The company mainly conducts its businesses within the domestic market. An analysis of the company's environmental, social, and governance policies are as follows:


Environment


From an environmental perspective, the company scores unfavorably, outperforming on the Emissions Score front, but underperforming on the Emissions Score front.


For instance, it has not implemented a resource reduction policy, which compares to the lack of a clear policy in the prior year. The company has not implemented a water efficiency policy, with an energy efficiency policy not implemented as well. This compares to the lack of a similar policy in the prior year.


Environmental policy areas the company is currently lacking include Environmental Supply Chain Policy, Resource Reduction Targets, Water Efficiency Targets, Energy Efficiency Targets, the setup of an Environment Management Team, Environment Management Training, Environmental Materials Sourcing, and Toxic Chemicals Reduction.


The company has also not implemented renewable energy use, which compares to the lack of a clear policy in the prior year. The company has also notably not implemented green buildings as well, which compares to the lack of a defined policy in this regard in the prior year.


In terms of its carbon footprint, the company's Estimated CO2 Equivalents Emission Total stands at 320,084 in the latest fiscal year based on Median CO2 Estimates.


Social


From a social standpoint, the company scores unfavorably, outperforming on the Workforce Score front, but underperforming on the Human Rights Score front.


For instance, it has not implemented a health and safety policy, which compares to the lack of a clear policy in the prior year. The company has also not implemented a Employee Health & Safety Policy, with a Supply Chain Health & Safety Policy not implemented as well. This compares to the lack of a similar policy in the prior year. The company has produced a notable rise in Net Employment Creation relative to the prior year.


As of the latest fiscal year, there have not been Management Departures, while the prior year saw no departures. Meanwhile, the company experienced no strikes this year, which compares to no strikes in the prior year.


Governance


From a governance standpoint, the company scores reasonably, outperforming on the Shareholders Score front but underperforming on the CSR Strategy Score front.


The company does not have a Corporate Governance Board Committee, but has a Nomination Board Committee, has an Audit Board Committee, and has a Compensation Board Committee. The company does have a Board Structure Policy but does not have a Policy for Board Independence in place. The Board has held 12 meetings in the last fiscal year, with the Board size currently at 11 members based on the latest annual/ESG report. The Board has an average tenure of 8.3 years, with the Board lacking in cultural and gender diversity.


The company has implemented a Policy for Executive Compensation Performance but has not tied its Executive Compensation Policy to ESG Performance. The company has implemented a Policy for Executive Retention but has not implemented a Succession Plan, nor has it implemented an External Consultants policy.


The company has not implemented CEO-Chairman Separation and does not have its CEO as a Board member. Its chairman is not an ex-CEO. Board member term duration stands at three years. In total, senior executives' compensation has risen in the latest fiscal year, along with Board member compensation. Notably, the CEO compensation is not linked to total shareholder return. Meanwhile, executive compensation is not linked to long-term objectives. Sustainability compensation incentives have not been implemented. Thus far, there have not been any executive compensation controversies.


Sources:


https://www.csrhub.com/CSR_and_sustainability_information/Science-City-Development-Public-Co-Ltd


https://www.sustainalytics.com/esg-rating/yintai-gold-co-ltd/2000819603/

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