Yahoo Finance LONGi Integrates ESG philosophy into Its Full Value Chain Operations, Working with Global Partners to Drive Sustainable Development
XI'AN, China, June 5, 2024 /PRNewswire/ -- On May 31st, LONGi Green Energy Technology Co., Ltd. (hereinafter referred to as "LONGi ") officially holds its third "Sustainability Week" and released the "2023 Sustainability Report". The report is LONGi's seventh consecutive release of social responsibility and sustainable development reports, revealing the company's actions and achievements in environmental protection, social responsibility, and corporate governance (ESG) in 2023.
The report shows that by the end of 2023, LONGi's cumulative shipments of silicon wafers exceeded 414.24 GW, accounting for 27% of the global photovoltaic cumulative installed capacity. This can generate 1736.1 billion kWh of green electricity, equivalent to avoiding 812 million tons of carbon dioxide emissions, equivalent to planting 4.06 billion trees, making a significant contribution to global climate action and sustainable development.
LONGi is committed to becoming an advocate, practitioner, and leader in sustainable development in the global clean energy field, making a positive contribution to global green, low-carbon sustainable development and the realization of a zero-carbon future. At a time when countries are rapidly building corporate sustainable development information disclosure systems, the report demonstrates LONGi's firm confidence, pragmatic actions, and phased achievements in practicing sustainable development to all parties.
Sustainable Development Integrated into LONGi's Strategic Management
In 2023, LONGi set a sustainable development goal of "Affordable for all" as well as the energy equity concept of "Solar for all" permeating LONGi's business philosophy with goodwill, and balancing the requirements of society, the environment, and stakeholders while achieving business value, and continuously integrating the concept into strategy and operations.
The report shows that in 2023, the company's Board of Directors' Strategic Committee expanded its sustainable development functions, established a Strategic and Sustainable Development Committee, and increased the board's involvement in sustainable development planning, establishing a new sustainable development and ESG governance framework. In the company's management layer, LONGi coordinated sustainable development planning and major issue management through the Strategic Management Committee, and appointed a Chief Sustainability Officer (CSO) to represent the company in promoting communication and exchange with stakeholders. The establishment of a Sustainable Development and ESG Office within the company's Strategic Management Center is dedicated to deeply integrating the concept of sustainable development into the company's strategic planning and operational management process.
LONGi Achieves Remarkable Success in ESG Improvement in 2023
The report indicates that in 2023 LONGi's investment in environmental protection amounted to 558.326 million yuan, a 38% increase compared to 2022. LONGi continuously enhances the refinement of environmental management in its production and operation process, increases environmental investment, and persistently reduces environmental impact. Currently, LONGi has achieved a 100% coverage rate for ISO 14001 environmental management system certification at all of its global production bases, and a 100% coverage rate for environmental risk assessments.
In 2023, LONGi completed a total of 509 energy improvement projects and initiated 118 water-saving process projects, achieving a water saving of 5.529 million tons within the year. Notably, the Ordos factory has achieved "Zero-Drainage" of wastewater, significantly alleviating the water usage pressure in the Ordos region, which is facing a shortage of water resources.
LONGi has been awarded the title of "Sustainable Disclosure Standards Pioneer Partner" by the International Sustainability Standards Board (ISSB), a silver rating for corporate social responsibility performance by EcoVadis, and received a "B" rating for climate change and water security from CDP in 2023. LONGi has also been ranked first in the industry for three consecutive years in the Corporate Action Transparency Index (CATI) by the Institute of Public and Environmental (IPE), reaching an industry-leading standard.
Deepening Climate Action to Facilitate the Coexistence of Humans and Nature
LONGi actively addresses climate change by systematically identifying, assessing, and managing climate risks, and continuously fulfilling its climate action commitments to promote green electricity, low carbon, and energy conservation and emission reduction.
In 2023, LONGi became the first photovoltaic company in China to be certified by the Science Based Targets initiative (SBTi) for its carbon targets. At the United Nations 28th Conference of the Parties (COP28), LONGi also released its third "Climate Action White Paper" and "Green Power+ Green Hydrogen" carbon neutrality solution, driving the global energy transition and climate action process; it carried out desert ecological restoration projects using photovoltaics and launched the "Zero-Carbon Life Plan for Pandas" using the power of photovoltaics to support biodiversity conservation.
At COP28, LONGi set up a Solar Pavilion and became a global partner with the United Nations High Commissioner for Refugees (UNHCR). The two parties will cooperate in climate action, energy equity, and green transformation, continuing to move forward on the path of sustainable development and ESG.
Working with Supply Chain Partners to Drive Sustainable Development
LONGi adheres to the empowerment philosophy and collaborates with its supply chain partners to jointly build a green and sustainable supply chain. It carries out full lifecycle management of suppliers' CSR, enhancing suppliers' business activities to achieve high standards of ESG management; it has completed the first phase of the "Green Partner Empowerment Program" training and carbon accounting for 50 key suppliers; the signing rate of the "LONGi Supplier CSR Code of Conduct" has reached 100%.
Currently, the "LONGi Supplier CSR Code of Conduct" has achieved a 100% rate in using social and environmental standards to screen new suppliers, and 60 key Tier 1 suppliers have obtained green factory certification. At the same time, LONGi has conducted conflict mineral supply chain surveys on 13 suppliers of tin materials, promoting responsible procurement and driving sustainable development of the value chain.
In 2023, LONGi also formulated the "2024-2028 Supplier ESG Capacity Building Plan". It covers four key dimensions: supplier qualification compliance, management system, labor rights, and EHS management capabilities, comprehensively improving the ESG management and performance of suppliers.
LONGi believes that a company does not exist for its own sake, but to align with the trends of the times and the needs of society, and to meet and benefit the development of humanity. In the process of achieving the global net-zero target, LONGi undertakes the mission and responsibility of promoting sustainable development for humanity.
About LONGi
Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
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