Wafangdian Bearing Company Limited
Climate Impact & Sustainability Data (2023, 2024-01 to 2024-06)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:22,300 tons of carbon emissions
Renewable Energy Share:30%
Total Energy Consumption:9090.90 tons of standard coal
Carbon Intensity:26.08kg of standard coal per 10,000 yuan of output value
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced energy consumption of 10,000 yuan of output value by 37.29% year-on-year.
- Reduced carbon emissions by 205.88 tons throughout the year.
- Achieved a clean energy utilization rate of 30%, an increase of 25% over the same period last year.
- Obtained 3 million KWH of green electricity.
Social Achievements
- Fulfilled social responsibilities, including supporting rural construction and poverty alleviation efforts.
- Provided timely assistance to employees in need.
- Established and improved the employment system, including the salary system and incentive mechanism.
- Implemented state regulations and standards on occupational safety and health.
Governance Achievements
- Established internal systems related to the operation of the "three associations", independent directors, information disclosure, investor protection, related party transactions, and internal control.
- Clarified the responsibilities, powers, procedures, and obligations of institutions at all levels in decision-making, implementation, and supervision.
Climate Goals & Targets
Medium-term Goals:
- Continue to deepen the statistics of scope 1 carbon footprint and extend to scope 3 in the future.
Short-term Goals:
- Complete green lighting work by 2024.
Environmental Challenges
- Sluggish global economic recovery, high global inflation, spillover effects of tight monetary policies, intensifying geopolitical conflicts, and increasing unilateralism and trade protectionism.
- Insufficient effective demand, weak social expectations, and some cyclical and structural problems in the domestic economy.
- Increased volume in the bearing industry and insufficient consumption power.
Mitigation Strategies
- Continued to take the sustainable development of "seeking progress in stability and quality in stability" as the core.
- Adhered to high-quality enterprise development.
- Better controlled operating risks and costs and expenses.
- Implemented 18 new energy-saving and carbon reduction project measures.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024-01 to 2024-06
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:40.6%
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Not disclosed
Environmental Achievements
- Reduced carbon emissions by 425.75 tons through "four new" energy-saving measures.
- Increased clean energy utilization rate by 32.1% to 40.6%.
Social Achievements
- Dispatched village cadres to surrounding areas of Dalian for rural construction and counterpart assistance.
Climate Goals & Targets
Environmental Challenges
- Uncertainties in market demand and competition.
- Rising labor costs.
- High raw material prices.
- Tough corporate profit margins.
Mitigation Strategies
- Developing middle and high-end products.
- Implementing differentiated management focusing on customer value.
- Adhering to quality first and enhancing brand influence.
- Accelerating reform and stimulating new vitality.
- Improving cost performance of bearing products.
- Seizing larger market growth space.
- Focusing on "grab the order to protect the market" and market development.
- Adhering to "cash is king", strengthening credit control, and improving capital turnover rate.
- Focusing on "expanding capacity to achieve stable growth of production, improving quality, reducing cost and increasing efficiency".
Supply Chain Management
Supplier Audits: Not disclosed