Business Codes and Principles
FANSUNG seeks to develop a culture in which everyone believes that all incidents are preventable and that "zero incidents" is possible. This requires the active leadership and all employees to be engaged.
Business Ethics
FANSUNG takes seriously the conduct of its employees and requires questionable conduct to be reported. This may include, for example, violations of company policy or of the FANSUNG Business Conduct and Ethics Code. One reporting method is the FANSUNG Hotline.
Business Principles
Our business centres around people and trust. Only by acting with professionalism and integrity can we maintain our stakeholders’ confidence and preserve our company’s reputation. The business principles play an very important role in this respect.
• We act with integrity
Showing fair, honest and lawful behaviour so we continue to earn our stakeholders’ trust
• We are open and clear
Saying what we mean, meaning what we say and listening carefully
• We respect each other
We value diverse thinking and respect human rights
• We are socially and environmentally responsible
We will do no harm and seek positive change through our products, people and activities
Governance
For FANSUNG, good corporate governance means being transparent with and responsive to stockholders while managing the company for long-term success. We communicate with stockholders through reports, press releases and other formats. We meet frequently with stockholders to discuss governance, financial, environmental, social and policy issues. Stockholders can direct the inquiries to the Board of Directors and submit proposals for inclusion in our proxy statement.
FANSUNG's commitment to good governance is seen in many other ways, too. All our directors stand for election each year; the board annually elects a chairperson; and we have a lead independent director. FANSUNG's restated certificate of incorporation and by-laws do not contain supermajority vote provisions. Stockholders have the right to call for special meetings and recommend director candidates to the board. The board will reconsider any stockholder proposal that receives a majority of votes cast at the annual meeting. In addition, we adopted a policy of obtaining stockholder approval of any stockholder rights plan.
Lobbying
FANSUNG has a right and responsibility to advocate positions on proposed policies that will affect the company's ability to meet the growing demand for used clothes resources. We lobby ethically, constructively and in a bipartisan manner through direct communication with public officials. We also encourage our employees, retirees and others to communicate with officials when permitted by law. We comply with all registration and reporting regulations related to our lobbying activities.
Our outreach includes recommendations on policy matters regarding the economy, energy, climate change, international issues, education, and research and development. The goal is to help shape an effective and responsible China resources policy. The recommendations include promoting energy efficiency and expanding and diversifying the country's energy portfolio.
Environmental Protection
Wherever we operate, we support diverse programs that help to protect the environment. Our Environmental, Social and Health Impact Assessment (also named "ESHIA") process, started in 2009, requires that all new capital projects be evaluated for potential environmental, social and health impacts. ESHIA is used to anticipate and plan for the avoidance, minimization and mitigation of potentially significant negative impacts, as well as for the enhancement of potential benefits during the planning, construction, operation and decommissioning of our projects.
In 2011, FANSUNG has committed itself to enhancing the sustainability of its procurement practices by taking into account the environmental and social aspect of the products and services procured. The Sustainable Procurement Program was started in early 2011. Part of this program was the development of a Procurement Charter, which states that Sustainable Procurement to FANSUNG means taking into account the environmental and social aspects of the products and services to be procured, as well as the attitude of the supplier towards sustainability. By influencing our suppliers to share our standards and work towards continual improvement, we believe we can make a visible impact on the environment and society in which we operate while mitigating reputational risks.
We're committed to helping meet the world's need for used clothes products in a safe and environmentally responsible manner. We believe that is the right thing to do and that it is critical to our success in a world in which resources should be compatible with an environment that's clean, safe and healthy.
Corporate Responsibility
As a company, we feel a strong sense of social responsibility, At FANSUNG, we are dedicated to improving the lives of the people we serve and the health of our communities. We are also committed to ensuring the health and safety of our employees and all who are affected by our business operations. We are committed, as a company and as individuals, to obeying the laws, respecting diverse cultures, and having a positive impact on the lives of the people in the communities where we do business.
FANSUNG has proven to be a true friend to many of the communities where it operates in times of need. Increasingly, the challenges that companies must address to be successful in the long term are intertwined with the challenges that broader society must address to improve the quality of life in our communities.
Our Shared Principles are brought to life every day through our efforts to improve the health of the healthcare system, support those in need, take steps to protect the environment, maintain a diverse workforce and treat our employees fairly. Through these actions FANSUNG employees demonstrate our deep commitment to corporate social responsibility, our customers, our shareholders and our communities every day. |
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