Shanghai Electric publishes its 2020 corporate social responsibility report

Shanghai Electric (SEHK: 02727, SSE: 601727), the world's leading manufacturer and supplier of power generation and industrial equipment, has released its 2020 Social Responsibility Report companies (“the report”). The report, Shanghai Electric's 12th CSR Report and 5th ESG Report, details data disclosed by Shanghai Electric's head office, internal institutions, branches, wholly-owned subsidiaries and holding companies.

The report demonstrates the group's commitment to corporate governance and product performance, with a focus on MSCI's environmental, social and corporate governance (ESG) rating and the sustainability index of Hang Seng business. It highlights Shanghai Electric's outstanding performance to date in smart energy, smart manufacturing and smart cities, as well as its ability to transform several major areas of its business using innovative smart technologies. The report also describes the main efforts of Shanghai Electric in the fight against COVID-19.

“The year 2020 presented a complex landscape for development, especially given the significant impact of the pandemic. Faced with this difficult context, Shanghai Electric has remained faithful to its mission, which is to promote green, intelligent, interconnected and comprehensive solutions. As one of the world's leading manufacturers of electrical equipment, we continue to seek new ways to meet our responsibilities to our shareholders, customers, partners, employees, the environment and the community within the meaning wide, ”said Zheng Jianhua, chairman of the board and CEO of Shanghai Electric Group.

Corporate governance: A comprehensive ESG governance system that integrates sustainability into Shanghai Electric's long-term strategic objectives

Shanghai Electric has set up a special ESG governance structure to ensure that sustainable development is integrated into the group's strategic plan. The organization chart consists of the board of directors, the ESG management committee comprising an ESG expert committee, and an ESG working group comprising the board of directors and three sub-groups.

Product development: combining intelligence and innovation

S'appuyant sur ses avantages dans le secteur de la fabrication d'équipements, Shanghai Electric s'est efforcée de construire un « écosystème du triangle industriel » composé d'équipements intelligents, de l'internet industriel et de chaînes d'approvisionnement intelligentes. En interne, l'entreprise a tiré parti de la transformation numérique pour soutenir le développement de la fabrication intelligente, de l'énergie intelligente et du transport intelligent ; tandis que ses programmes d'autonomisation externe soutiennent le développement d'une ville intelligente complète et multidimensionnelle.

On the innovation front, Shanghai Electric has focused on high-tech industrialization and strategic emerging industries. The company has continued to support technological research and product development in key areas, and has actively explored and cultivated new industries and technologies. During the reporting period, Shanghai Electric spent 4.75 billion RMB on R&D, representing an increase of 8.55% over the previous year and 3.47% of total annual operating income .

Environmental responsibility: conserving energy, improving efficiency and reducing emissions

Over the years, Shanghai Electric has adhered to its belief that preserving the environment is essential to sustainable development, and the company has integrated environmental factors into every link in its industrial chain. The report shows that Shanghai Electric is continually exploring green operating models for green management, energy conservation, improved efficiency and reduced emissions.

The company has actively promoted the development of high efficiency energy saving projects, including: Shanghai Electric's Golmud Meiman Minhang 32MW / 64MWh energy storage power plant; the world's first 1000MW ultra-supercritical steam turbine, which saves over 200,000 tonnes of standard coal every year; and units 5 and 6 (2 × 1240MW) of phase II of the Huaxia Yangxi power plant project in Guangdong , whose heat consumption of unit 5 has already been reduced by 1.65% under working conditions difficult.

Shanghai Electric has also completed the application and completed the registration of pollutant discharge permits for 107 companies, leveraged these permits to improve compliance, and partnered with government agencies to implement audits for a green production for six companies. In 2020, the group carried out an in-depth emissions survey at 86 production companies, six industrial sites and five plots, from which a number of improvement opportunities and guidelines were offered.

Social responsibility: providing assistance during the COVID-19 pandemic

In the wake of the pandemic, a number of critical cases have surfaced, both outside and inside Shanghai Electric, reinforcing the company's resolve to play its role in the fight 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 Rs 6million to the project site and sent additional staff to Pakistan to speed up progress.

Shanghai Electric also spontaneously mobilized members of its party and its organs to donate 8.8 million RMB to support the fight against the pandemic. In addition, the company has shipped more than 300 mask machines across the country, accelerated the development of automated mask production lines - of which more than 621 have been shipped nationwide - and donated more than 100 000 masks and personal protective equipment for foreign partners.

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