SHANGHAI, June 2, 2022 / PRNewswire / – Shanghai Electric announced the release of the Annual Corporate Social Responsibility (CSR) 2022, which highlights the company’s environmental, social and governance (ESG) performance and achievements for fiscal 2021.
This is Shanghai Electric’s 13th CSR Report in which the company continues its promise to improve the transparency of its ESG practices and strengthen its commitment to accelerate the global energy transformation through its Green Strategy. The report reveals Shanghai Electric’s technological innovations that are driving the growth of its three main business areas – energy appliances, industrial appliances and integrated services – as well as significant progress in implementing a carbon strategy to meet the world’s climate challenges. The report also includes a number of initiatives taken by Shanghai Electric to train employees and alumni as part of their efforts to unlock their professional potential and create a future-proof workforce for the energy sector.
“Companies around the world continue to face the negative effects of the ongoing pandemic, which has stopped progress in rebuilding the global economy, hindered international cooperation and undermined efforts to combat climate change. In the face of many global challenges, Shanghai Electric has prioritized low-carbon technologies and digital transformation to become a leader and innovator in the new energy sector, “writes Shanghai Electric in the report.
Strengthening the future with technological breakthroughs
To provide innovative and reliable technology and climate protection solutions across the entire energy ecosystem, Shanghai Electric has increased investment in its offshore wind energy business while strengthening its R&D capacity to stimulate innovation in energy storage. As digitization, automation and sustainability are the engines of the company’s growth, Shanghai Electric is also using cutting-edge industrial equipment technologies to develop automation and system solutions for smart energy, smart manufacturing and smart infrastructure. In the field of integrated services, the company accelerates the activities aimed at transforming its business model towards the so-called “servitization” of its products.
Integration of ESG as the main area of activity
To reinforce its continued efforts to optimize ESG supervision and management, Shanghai Electric has established a dedicated ESG Committee to define the company’s overall ESG strategy and to assess the environmental risk of its operations, which evaluates ESG performance and progress.
In pursuit of China’s carbon neutrality and peak emissions goals, Shanghai Electric is responding to the renewable energy transition with innovative business solutions and equipping its products with energy-saving technology to reduce carbon dioxide emissions. In addition, Shanghai Electric works with its partners to build a green supply chain that meets the highest standards to ensure that every phase of the product – from design and production to service and maintenance – is implemented responsibly.
The report also details Shanghai Electric’s efforts to combat environmental problems, as well as data on reducing energy consumption, greenhouse gas emissions, water consumption, pollution and waste emissions, in line with the goal of becoming a holistically sustainable company in the coming decade will be .
Accelerating green transformation for a sustainable future
Shanghai Electric is accelerating the development and application of low-carbon technologies such as hydrogen energy, energy storage and carbon capture, while using its business advantages to promote the development and construction of new energy projects. Meanwhile, the company is constantly improving the plan and roadmap of its renewable energy solutions and services to increase new energy consumption opportunities.
Shanghai Electric supports the United Arab Emirates in their green energy transition efforts by building a solar PV storage station in Dubai. With a 400 KW photovoltaic panel and a 1 MWh battery energy storage system, the project will replace diesel generators at the Shanghai Electric offices in Dubai through renewable energy sources.
Supporting the next generation of electrical engineers with lifelong learning programs
Equity is an integral part of Shanghai Electric’s corporate culture. The company actively promotes diversity, equal opportunities and inclusion by creating a work environment that is open and respectful to all. Shanghai Electric creates a work environment where all employees can define their own career paths and offers channels and platforms to showcase and develop their professional skills. In 2021, Shanghai Electric was ranked 15th on Forbes’ “Best Chinese Workplaces” list.
In order to ensure equal opportunities for employees and fulfill their potential, Shanghai Electric has developed vocational training programs for employees. In a format adapted to the needs of employees in different areas of the company, the in-house training program is designed to meet the different interests and special requirements of people and to facilitate their promotion opportunities. Shanghai Electric is also committed to nurturing young talent by partnering with universities and educational institutions to offer a range of offline training programs designed to increase the employability of university students.
Leading development of the Chinese energy sector
To create spaces to bring together industry leaders to exchange ideas, strengthen business partnerships, and discuss opportunities and challenges for Chinese energy, Shanghai Electric organized a series of forums, lectures and symposia in 2021, inviting 72 industry experts where over 700 national scientists participated. During these China-wide events, 103 projects were presented and 22 contracts were signed. In addition, Shanghai Electric spent approximately 3.4% of its total revenue on R&D in 2021, with R&D spending on key technology and equipment increasing year by year.
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