XCMG Machinery Releases 2024 ESG Report
XCMG Machinery, a worldwide leader in construction machinery, has officially published its Environmental, Social and Governance (ESG) report for 2024. This comprehensive document highlights the company's significant achievements in sustainable practices aligned with global climate goals, alongside advancements in clean technologies, digital intelligence, and ethical governance. XCMG aims to position itself as a catalyst for a green industrial transformation.
Commitment to Sustainable Growth
In 2024, XCMG experienced a more stable operational quality and increased profitability, strengthening its commitment to sustainable practices and the development of new energy products. "Our progress reflects a philosophy of 'advancement amid stability,'" stated Yang Dongsheng, CEO of XCMG Machinery. The company leads the global markets in sectors like lifting equipment, foundation machinery, specialized vehicles, earthmoving, and loaders. XCMG has expanded its partnerships, achieving 95% market coverage under the Belt and Road Initiative, employing localized acquisition strategies that enhance resilience.
Pioneering Eco-Friendly Manufacturing
Dedicated to advancing green manufacturing transformation, XCMG has initiated a variety of strategies aimed at reducing pollution, lowering carbon emissions, conserving resources, and promoting recycling. In 2024, clean energy accounted for 13.63% of XCMG's energy consumption, with Scope 1 greenhouse gas emissions slashed by 102,363 tons. The company's digital carbon footprint management platform encompasses 114 key components, launching 21 new energy product lines—including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, generating revenue of 10.88 billion yuan (approximately $1.51 billion) from new energy products. In terms of environmental investments, XCMG allocated 46.34 million yuan ($6.42 million) towards eco-initiatives, working with advanced big data analytics to develop specific energy conservation and carbon reduction strategies focused on electricity, steam, and natural gas.
Accelerating Digital Transformation
XCMG is consistently recognized as a national leader in smart manufacturing. The company achieved Level 4 in smart manufacturing capability maturity and Level 3 in data management capability maturity in 2024. XCMG Crawler and XCMG Fudi were included in China's 2024 5G factory directory, with XCMG Heavy Machinery recognized among top-tier smart factories and as a pilot for industrial internet demonstration projects.
Enhancing Community Engagement and Social Impact
XCMG's commitment to social responsibility also manifests through comprehensive ESG assessments with suppliers and the integration of ISO 14001 and SA8000 standards into its procurement processes. The company launched a low-carbon training initiative, conducting over 20 comprehensive training sessions for its global suppliers throughout the year. Additionally, XCMG has supported public welfare investments focusing on education, poverty alleviation, and disaster relief. The company significantly enhanced its talent development system to provide employees with greater professional and personal growth opportunities, investing 2.04 million yuan ($282,664) in employee welfare programs, training 7,619 R&D professionals, and promoting gender inclusion, with two female board members.
For the full report, visit the official website:
XCMG ESG Report 2024