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:
Published Neo’s inaugural sustainability report
Developed improvement goals of ESG related KPIs agreed on and approved by business units, the Executive team, and the Board’s HESS committee
Completed near-miss incidents report and investigation
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
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
Conducted assessment of Diversity, Equal Opportunity and Gender Equity and implemented tools for improvement opportunities
Conducted internal HES audits at Neo facilities
Conducted assessment of third-party sustainability evaluation results, opportunities, and recommendations to improve
Advanced Neo’s procurement policy
Conducted industrial hygiene analysis and implemented solutions to risks
Issued computer-based training programs
Completed assessment of the inaugural 2021 sustainability report and broadened scope of material metrics
UN Global Compact: Issued Neo HESS goals in line with UN sustainable development goals, received UN approval
Continuous Improvement Model
and Governance of ESG:
Operating plant management and HESS staff to source qualitative and quantitative ESG data on an annual basis
Internal ESG Working Groups that collaborate with operating plant management and HESS staff to develop GAP analysis from target KPIs
Each operating facility’s Plant Manager and HESS Manager are responsible for identifying projects that contribute towards improving material topic ESG KPIs annually
Business Unit Leaders oversee improvements of their operations towards material KPIs and report their annual sustainability strategy and action plan to COO
COO chairs Internal ESG Working Group, convening by-weekly, with a documented agenda, meeting minutes, and accountability/timeline tracker
Internal ESG Working Groups conducts consultations with both internal and external stakeholders for Neo’s Materiality Assessment and Goal Setting on an annual basis
COO and VP HESS report quarterly at Board’s HESS Committee meeting on continuous efforts towards meeting ESG targets set for each year
Chair of Board HESS Committee delivers brief to the Board of Directors quarterly on Management’s progress towards the corporate sustainability strategy; and
Board Compensation Committee sets and assesses annual performance of executive team towards set ESG targets, rewarding ESG-linked compensation accordingly