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SANY's 2024 ESG Report: A Commitment to Environmental and Social Governance

SANY Heavy Industry, a leading name in the manufacturing sector, has recently unveiled its 2024 Environmental, Social, and Governance (ESG) report. This pivotal document outlines the initiatives and advancements made towards fostering a sustainable future guided by green innovation. In a world increasingly aware of the urgent need for eco-friendly practices, SANY’s strategic investments into clean energy development and environmentally sound manufacturing processes are commendable.

Highlights of the 2024 ESG Report

In the past year, SANY allocated approximately 520 million yuan (about 72 million USD) towards environmental protection efforts. This not only indicates substantial financial commitment but also reflects SANY's dedication to facilitate high-quality industrial development that is driven by innovative and sustainable practices.

President Xiang Wenbo stated, “Moving forward, SANY plans to continually raise its investments in the research and development of clean technologies, upgrading production facilities, and expanding market reach. Our goal is to broaden the range of clean energy products available and enhance solutions for energy efficiency.”

Greener Manufacturing Initiatives

In 2024, SANY executed a series of projects aimed at energy conservation and minimizing resource consumption across its operations. Some notable achievements included:

• - A cumulative energy cost savings of 0.32 billion yuan (around 44 million USD).
• - The installation of photovoltaic power generation systems across 21 subsidiaries, which collectively supplied 76.07 million kWh of clean energy, representing 13.8% of the company's total energy use.
• - A significant reduction of 17.9% in volatile organic compounds (VOCs) emissions compared to the 2021 baseline, resulting in an emission density of 14.47 tonnes per million yuan of revenue.
• - An 84.5% decrease in the chemical oxygen demand (COD) intensity of wastewater emissions, achieving a benchmark of 0.34 tonnes per million yuan of revenue.

These figures illustrate SANY’s resolve to enhance its practices and embrace a greener operational model.

Workforce and Social Contributions

Beyond environmental sustainability, SANY also places a strong emphasis on social responsibility and employee welfare. In the 2024 report, it was highlighted that 89% of international employees were local hires, with women occupying 12% of leadership positions. SANY rolled out an employee stock ownership plan valued at 550 million yuan, benefiting over 6,241 employees.

Training and development of staff are vital components of SANY’s operational ethos, with 485 training sessions conducted throughout the year, and participation from 93% of employees across health and safety training and special equipment safety training. Impressively, SANY recorded a low annual accident rate of 1.78‰ with no reported occupational diseases.

In alignment with their CSR initiatives, SANY donated approximately 18.16 million yuan (2.52 million USD) to public welfare funds, enhancing social well-being through 143 activities focused on education, disaster relief, and rural revitalization.

Digitally-Enhanced Governance

The 2024 ESG report also showcases SANY’s modernization in governance structure concerning ESG practices. With the establishment of a smart oversight platform, SANY generates early warning alert data, verifying almost 4,568 batches of alerts. Consistent governance meetings have been a hallmark of robust engagement, achieving a 100% participation rate across four shareholder assemblies and seven board meetings.

Xiang Wenbo emphasized the importance of blending digital technology with strategy, stating, “In 2024, we accelerated our global development and leveraged digital technologies to promote smart manufacturing and transformation, actively developing new energy equipment and low-carbon products that support global sustainable development.”

Looking Ahead

As SANY forges ahead, its commitment to green and smart technologies signals not only progress in corporate responsibility but also contributes significantly to global carbon emission reduction efforts. With aims to pioneer new productivity forms that incorporate innovative technologies, SANY is poised to lead the charge in advancing environmentally responsible industrial practices in the years to come.

SANY's 2024 ESG report serves as a testament to their unwavering dedication to enhancing sustainability within their operations, paving the way for a brighter, greener future in the manufacturing industry.