Navigating our sustainability report

Advancing Neo’s ESG Efforts in 2022

In the following list, we outline the Top material projects from 2022 that helped Neo advance their ESG efforts and make a positive impact on the environment and society:

  1. Published Neo’s inaugural sustainability report

  2. Developed improvement goals of ESG related KPIs agreed on and approved by business units, the Executive team, and the Board’s HESS committee 

  3. Completed near-miss incidents report and investigation 

  4. Relocated an operating facility in China to help reduce the concentration of heavy industry in a high-stress water region and mitigate potential risks to groundwater sources

  5. Commenced development of a GHG plan: assembled GHG taskforce, developed GHG intensity metrics, conducted carbon reduction studies, considered carbon neutrality feasibility, determined scope of GHG reporting, considered potential projects, performed capital projects’ GHG impact review

  6. Conducted assessment of Diversity, Equal Opportunity and Gender Equity and implemented tools for improvement opportunities 

  7. Conducted internal HES audits at Neo facilities 

  8. Conducted assessment of third-party sustainability evaluation results, opportunities, and recommendations to improve

  9. Advanced Neo’s procurement policy

  10. Conducted industrial hygiene analysis and implemented solutions to risks

  11. Issued computer-based training programs

  12. Completed assessment of the inaugural 2021 sustainability report and broadened scope of material metrics

  13. UN Global Compact: Issued Neo HESS goals in line with UN sustainable development goals, received UN approval

Continuous Improvement Model and Governance of ESG:

  1. Operating plant management and HESS staff to source qualitative and quantitative ESG data on an annual basis
  2. Internal ESG Working Group working with operating plant management and HESS staff to develop GAP analysis from target KPIs
  3. Each operating facility’s Plant Manager and HESS Manager are responsible for identifying projects that contribute towards improving material topic ESG KPIs annually.
  4. Business Unit Leaders oversee improvements of their operations towards material KPIs and report their annual sustainability strategy and action plan to COO
  5. COO chairs Internal ESG Working Group, convening byweekly, with a documented agenda, meeting minutes, and accountability/timeline tracker.
  6. Internal ESG Working Groups conducts consultations with both internal and external stakeholders for Neo’s Materiality Assessment and Goal Setting on an annual basis.
  7. COO and VP HESS report quarterly at Board’s HESS Committee meeting on continuous efforts towards meeting ESG targets set for each year
  8. Chair of Board HESS Committee delivers brief to the Board of Directors quarterly on Management’s progress towards the corporate sustainability strategy; and
  9. Board Compensation Committee sets and assesses annual performance of executive team towards set ESG targets, rewarding ESG-linked compensation accordingly