XINGDA reveals latest developments on its sustainability initiative
2023-08-09
XINGDA, one the world’s largest steel tyre cord manufacturers, released its sustainability report for 2022, also the company’s second of such report, in which the latest progress on its sustainability initiative were revealed.
Among the volume shipped in 2022, steel cord of super-high or ultra-high tensile strength, commonly used in tyres made for EVs, accounts for 32.89%, as we continue to march towards a greener product portfolio.
Meanwhile, carbon emission for every ton of steel cord produced decreased by 18.31% compared to 2021, marking a big step forward on our carbon reduction commitment, which has been certified by the Science Based Targets initiative (SBTi).
To meet tyre makers’ growing demand for recycled feedstock, XINGDA tested the production of steel cord and bead wire using wire rods made from Electric Arc Furnace (EAF) process, where as much as 40% of scrap steel was included. We look to further increase the ratio of scrap steel whilst starting the delivery of products made from EAF-based wire rods to clients in 2023.
In 2022, XINGDA expanded its environmental and social impact assessment to all key suppliers, and conducted sustainable procurement training for all the procurement personnel, a substantial achievement in our bid to build a sustainable supply chain.
In terms of community and human capital development, XINGDA’s employees received an average of 21 hours of training per person in 2022. We plan to provide an average of 40 hours of vocational training per year for each employee by 2025.
XINGDA achieved a “B” rating on the CDP Climate Change Questionnaire, and was included, as the only recipient of such honor among industry peers, in the CSA Yearbook 2023 China Edition, compiled by S&P to highlight stand-out CSA performers among public-traded companies in China.
