Xingda unveiled ambitious plans to ‘go sustainable’ in the first ever sustainability report released by Chinese steel cord makers
2022-07-28
Xinghua, China - On July 28, Xingda, one of the world’s leading players in rubber reinforcement, officially released its 2021 Sustainability Report with a special event at its headquarters. It is the first sustainability report released by Xingda, also the first by any Chinese steel cord or bead wire maker.
In the report, compiled in accordance with the GRI (Global Reporting Initiative) criteria and aiming to address both the immediate and longer-term challenges facing the industry, Xingda disclosed in detail the goals, plans, actions and latest progress of its key sustainability initiatives, such as green products, circular economy and low-carbon operation, with key information presented as below.
Key information of Xingda Sustainability Report 2021
Sustainability philosophy :
With "Sustainable and High-quality Development" as the core and responsible operation as the foundation, Xingda will deliver high-quality, innovative and green products and solutions, promote green transformation of the industry, and contribute to the social development and community prosperity.
Four major areas of sustainable development:
l Green products and solutions
l Sustainable supply chain
l Shared social values
l Robust operation model
Seven substantive topics and progress of sustainable development：
1. Green products
l By 2025, increase the proportion of green products in total sales to 30%
Progress in 2021: ST/UT tire cord products accounted for 28% of total sales. The ST/UT tire cords can reduce tire weight, lower rolling resistance, and prolong tire service life.
2. Tackling climate change
l By 2025, reduce carbon emission per unit of product by 18% in comparison to 2020
l By 2025, reduce energy consumption per unit of product by 14% in comparison to 2020
l By 2025, achieve a 30% green energy ratio
Progress in 2021:
a) Carbon emission per unit of product of Jiangsu base was 1.42 tons of CO2e, down 3.73% year- on-year
b) Energy consumption per unit of product was 1.43 MWH/ton , down 1.38% year on year Meanwhile, energy consumption per unit of product of the Jiangsu base in 2021 dropped by 2.69% from 2020
c) Approved the CAPEX of 7.6MW rooftop solar power station, with an expected annual electricity generation up to 8 million kWh
3. Circular economy
l By 2030, raise the proportion of recycled steel to 40%
Progress in 2021:The purchased steel wire rod contained 18.50% recycled steel
4. Responsible procurement
l By 2025, include 100% of Xingda’s suppliers in sustainability assessment
Progress in 2021: 11.48% of suppliers finished environmental and social evaluation, while the evaluation ratio of major raw material and auxiliary product suppliers was 90.9%
5. Community and human capital development
l By 2025, provide on average 40 hours of vocational training for each employee per year
Progress in 2021: Employees received 34 hours of training on average
6. Compliance and business ethics
l By 2025, provide business ethics trainings for 100% of our employees and suppliers
Progress in 2021: 857 employees (11% in total) received anti-corruption training
7. Sustainability governance
l Continuously improve information transparency and capital market performance
Progress in 2021:
a) Xingda established Sustainable and High-Quality Development Strategy Committee and the Xingda International Green Vanguard Team
b) Released Xingda's first sustainability report
c) Achieved score B for CDP Climate Change Questionnaire rating and won Bronze Medal for Ecovadis rating
Along with the report, Xingda also shared the current status of its pioneering ‘from tire, back to tire’ project, in which steel cord and bead wire shall be recycled from used tires to make wire rod and then new steel cord and bead wire, so as to achieve a true circular economy. At present, Xingda is working closely with tire recyclers, steel makers and tire makers to assess the technical feasibility of such cycle, and look to conclude the assessment in the coming months before moving to the mass trial phase. Once completed, it will mark one of the greatest breakthroughs the industry has seen in recent years and offer a remarkable boost to the quest for circular economy by tire makers around the globe.
