Climate Change Data

Neway Valve (Suzhou) Co., Ltd.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:127314.86 tCO2e/year
Scope 1 Emissions:1879.51 tCO2e/year
Scope 2 Emissions:6692.09 tCO2e/year
Scope 3 Emissions:119733.26 tCO2e/year
Renewable Energy Share:23%
Total Energy Consumption:17731614 KWH/year
Water Consumption:211914 tons/year
Waste Generated:4807 tons/year
Carbon Intensity:0.13 TCO2-e/T in 2023

ESG Focus Areas

  • Governance
  • Social
  • Environmental

Environmental Achievements

  • Sewage treatment compliance rate of 100%
  • Water reuse rate of 10.31%
  • Reduced water consumption per 10,000 yuan of output value from 1.26 M3/10,000 yuan to 0.43 M3/10,000 yuan (2021-2023)
  • Reduced electricity consumption per 10,000 yuan of output value from 52.280 KWH/10,000 yuan to 32.511 KWH/10,000 yuan (2021-2023)
  • Installation of approximately 50,000 m2 of photovoltaic solar panels, generating 3,760,450 kWh in 2023
  • Replacement of diesel forklifts with electric forklifts, reducing forklift carbon emissions by 4.51T CO2-e compared to 2022
  • Implementation of variable frequency fans, saving 750,000 kWh of electricity and reducing carbon emissions by 427.7 TCO2-e

Social Achievements

  • 100% business ethics training coverage
  • 100% coverage of workplaces/departments by information security internal audits
  • 100% coverage of workplaces/departments by information security risk assessments
  • Employee satisfaction of 92%
  • Employee turnover rate of 10.3%
  • Average training hours per employee of 65.4 hours/year
  • Organized employee participation in community services and charity activities
  • Donated 3.738 million yuan in education aid

Governance Achievements

  • Established a hierarchical and rigorous governance system including an ESG committee and working group
  • Established a risk management system covering strategic, market, operational, compliance, and financial risks
  • Conducted compliance training for 4,500 people (100% coverage)
  • Completed 47 audit projects in 2023
  • Conducted annual self-evaluation of internal control

Climate Goals & Targets

Long-term Goals:
  • Achieve carbon neutrality by 2050
Medium-term Goals:
  • Achieve 30% renewable energy by 2030
  • Reduce water consumption per unit of product by 15% by 2030 compared to 2021 baseline
  • Reduce greenhouse gas emissions by 20% by 2030 compared to 2021 baseline
  • Reduce comprehensive energy consumption per unit of product by 10% by 2030 compared to 2021 baseline
Short-term Goals:
  • Reduce water consumption per unit of product by 5% by 2025 compared to 2021 baseline

Environmental Challenges

  • High environmental emission standards in the Taihu Lake area increasing operating costs
  • Increasingly stringent ESG regulations
  • Pressure to upgrade technology and increase investment
  • Competition in the valve market
  • Customer demand for personalized customization and low-carbon products
Mitigation Strategies
  • Expanding into niche markets and increasing R&D investment
  • Promoting lean production and optimizing supply chain management
  • Promoting the ESG management system and integrating compliance
  • Actively responding to the national "dual carbon" strategy and conducting carbon inventory and product carbon footprint assessments
  • Accelerating the transformation to Industry 4.0 and smart manufacturing

Supply Chain Management

Supplier Audits: Annual supplier audits

Responsible Procurement
  • Supplier Quality Control Procedure

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • ESG regulations are becoming increasingly stringent
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Sustainability Reporting Standards, ISO 26000:2010, UN Sustainable Development Goals (SDGs)

Certifications: ISO9001, API 6D, ISO14001, ISO45001, ISO50001, ISO14064, ISO14067, PAS2060

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Liquid hydrogen valves

Awards & Recognition

  • National 5G Factory
  • An internationally renowned brand that Jiangsu Province focuses on developing and nurturing
  • High-tech Company Certificate
  • China Machinery Industry Science and Technology Award
  • Top 100 Innovative Private Company in Jiangsu
  • National Intellectual Property Advantage Company
  • Jiangsu Province Genuine Product Commitment Company
  • Shanghai Science and Technology Progress Award
  • Well-known Chinese Trademark