#China #Sustainable Innovation #ESG Report #XCMG Machinery #Xuzhou

XCMG's Initiative for Sustainable Growth: The 2024 ESG Report

XCMG Machinery, a leader in the global construction machinery sector, has recently unveiled its 2024 Environmental, Social, and Governance (ESG) report. This extensive document delineates the company's relentless pursuit of sustainability, technological advancement, and socially responsible practices—all of which are vital to achieving the global climate targets.

Highlights of the Report

In an era where environmental stewardship is paramount, XCMG has emerged as a frontrunner in promoting green industrial transformation. Yang Dongsheng, the CEO and Chairman, remarked, "In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities, and made significant strides towards establishing a world-class enterprise."

Progress in Sustainability and New Energy

The report places a strong emphasis on XCMG's efforts towards reducing pollution and carbon emissions. A significant highlight is that 13.63% of the energy consumed by XCMG in 2024 came from clean energy sources. Additionally, the company has successfully cut its Scope 1 greenhouse gas emissions by an impressive 102,363 tons. XCMG launched 21 new energy product lines, including electric excavators and hydrogen-powered mining trucks, garnering a sales revenue of 10.88 billion yuan (approximately $1.5 billion) from these green innovations.

A Digitally Transformed Future

XCMG is not only a pioneer in sustainable practices but also in digital transformation. The company has achieved a mature level of smart manufacturing capabilities, recognized as a national benchmark. 2024 saw XCMG attain Level 4 Smart Manufacturing Capability Maturity and Level 3 Data Management Capability Maturity. As part of its commitment to operational excellence, XCMG has integrated big data analysis to streamline energy consumption strategies further, incorporating IoT technologies to enable intelligent data collection on energy use across the company.

Community Impact and Social Responsibility

In addition to its environmental initiatives, XCMG has strengthened its social responsibility programs. The report outlines the company’s stance on fostering positive community engagement and boosting social impacts through various initiatives. In 2024, XCMG’s investment in public welfare, including education and poverty alleviation programs, demonstrated its commitment to contributing positively to society.

Moreover, XCMG has undertaken substantial efforts to improve employee welfare, investing 2.04 million yuan in welfare programs and providing training for over 7,600 research and development professionals. Significantly, the company is promoting gender inclusivity with two women serving on its board, reinforcing its commitment to diversity and equality.

Conclusion

XCMG's 2024 ESG report serves as a testament to its dedication to advancing sustainable practices, fostering a digitally transformed environment, and enhancing social responsibility. Through strategic partnerships and unwavering commitment to innovation, XCMG is firmly positioning itself as a leader in the construction machinery industry, setting standards for others to follow in the quest for sustainability and corporate responsibility.

For further details, the full report can be accessed at: XCMG ESG Report 2024