XCMG has officially released its 2024 Environmental, Social, and Governance (ESG) report, particularly highlighting the group’s achievements in sustainable practices aligned to global climate goals as well as breakthroughs in clean technologies, digital intelligence, and ethical governance.
“In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities and global development, and made significant strides towards establishing a world-class enterprise underscoring our philosophy of ‘progress amid stability,” says Yang Dongsheng, CEO and chairman of XCMG Machinery.
XCMG has implemented a broad range of initiatives aimed at reducing pollution, lowering carbon emissions, conserving resources and promoting recycling, leveraging technological and digital capabilities, financial strategies and cultural initiatives.
In 2024, clean energy accounted for 13.63 percent of XCMG’s energy consumption, and Scope 1 greenhouse gas emissions have been reduced by 102,363 tonnes.
The digital carbon footprint management platform of XCMG covers 114 core components. In 2024, it launched 21 new energy product lines, including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, and achieved 10.88 billion yuan (USD 1.508 billion) in sales revenue from new energy products.
In addition, XCMG invested 46.34 million yuan (USD 6.42 million) in environmental initiatives. Leveraging a robust big data analysis model for energy consumption, XCMG has developed targeted strategies for energy conservation and carbon reduction across three primary energy sources: electricity, steam and natural gas.
It has developed an energy and carbon control platform integrating cloud computing, big data, and IoT technologies to support an array of functions poised to facilitate seamless collection of energy consumption data via intelligent devices.
