XINGDA unveils its vision on sustainability for 2030
2023-11-17
XINGDA, one of the leading steel cord makers in the world, officially shared its vision on sustainability with all stakeholders at the annual XINGDA Global Forum, unveiling its goals for 2030 and its plans to facilitate green and low-carbon transformation with digital technology and intelligent manufacturing.
Based on goals set out at the event, by 2030, XINGDA will produce more than 40% of its products with recycled steel, complete the feasibility study of recycling steel wires from end-of-life tyres, increase the share of high-performance products to over 60% of the total sales volume, and work jointly with upstream and downstream partners to develop new technologies, new processes and new products.
When it comes to low-carbon transformation, XINGDA’s energy consumption and carbon emissions per unit of product have reached the industry’s leading level. By 2030, XINGDA is expected to reach an installed capacity of 200 megawatts through photovoltaic projects, generating 200 million kWHs of electricity annually; and it will become self-sufficient in heat supply for all the company’s production processes. In the meantime, XINGDA’s energy consumption per unit of product will fall by 26% compared with 2020, and carbon emissions by 42%. It will also have implemented independent verification of carbon footprint for all products.
XINGDA’s commitment to sustainability has borne fruit dearly so far. In 2023, the Company received the Ecovadis Gold Medal, scored an industry-leading B in CDP rating and passed the SBTi certification. It has joined the United Nations Global Compact, and has been included in S&P Global’s first issue of “Sustainability Yearbook (China Edition) ”.
