Lagos — Shanghai Electric (SEHK: 02727, SSE: 601727), the world’s leading manufacturer and supplier of power generation and industrial equipment, has released its 2020 Corporate Social Responsibility Report (“the Report”).
The Report highlights Shanghai Electric’s outstanding performance to date in smart energy, intelligent manufacturing and intelligent cities, as well as its journey to transform several major areas of its business using innovative intelligent technologies. The Report also outlines key efforts made by Shanghai Electric in the fight against COVID-19.
“2020 presented a complex landscape for development, particularly in light of the monumental impact of the pandemic. Faced with this challenging environment, Shanghai Electric has remained committed to our mission to champion green, smart, interconnected and comprehensive solutions. As one of the world’s leading power equipment manufacturing companies, we continue to seek new ways to fulfil our responsibility to our shareholders, customers, partners, employees, the environment and the broader community,” said Zheng Jianhua, Chairman of the Board and Chief Executive Officer of Shanghai Electric Group.
According to the Report, Shanghai Electric has established a special ESG governance structure to ensure sustainable development is embedded into the group’s strategic layout.
Relying on its advantages in the equipment manufacturing industry, the company has strived to build an “industrial triangle ecosystem” comprised of smart equipment, the industrial Internet, and intelligent supply chains.
Internally, the company has leveraged digital transformation to support the development of intelligent manufacturing, smart energy, and intelligent transportation; while its external empowerment programs support the development of a comprehensive and multi-dimensional smart city.
On the innovation front, Shanghai Electric shifted its focus towards high-tech industrialization and strategic emerging industries. During the reporting period, the company had committed RMB 4.75 billion ($740 million) to R&D, which was an increase of 8.55 percent year-on-year and accounted for 3.47 percent of annual total operating income.
The Report also demonstrates that Shanghai Electric is continually exploring eco-friendly operating models for green management, energy conservation, efficiency enhancement and emissions reduction.
The company has actively promoted the development of high-efficiency energy-saving projects, including: the Shanghai Electric Golmud Meiman Minhang 32MW/64MWh energy storage station; the world’s first 1000MW ultra-supercritical steam turbine, which saves over 200,000 tons of standard coal every year.
In the wake of the pandemic, a number of critical cases surfaced both outside and within Shanghai Electric — strengthening the company’s resolve to do its part in the battle against COVID-19.
In Pakistan where Shanghai Electric recently completed its Thar Coal Block-1 2x660MW Power Plant Project, the Thar Coal Block-1 Power Generation Company donated supplies to the Pakistani military on behalf of the Group. The company also donated 6 million rupees to the site of the project and dispatched additional staff to Pakistan to accelerate progress.
Shanghai Electric also spontaneously mobilized its employees and bodies to donate RMB 8.8 million ($1.37 million) to support the fight against the pandemic. Furthermore, the company shipped over 300 mask machines across the country, accelerated the development of automated mask production lines — of which more than 621 were dispatched nationwide — and donated more than 100,000 masks and personal protective equipment to overseas partners.