XCMG releases its first ESG report

XCMG’s first inaugural Environmental, Social, and Governance

The OEM says that the document highlights, “the company’s achievements in electrification and intelligent manufacturing within its strategic value chain. By reinforcing its green competitive edge, XCMG is spearheading the industry’s transition towards sustainability.”

The report states that XCMG invested CNY 5.018 billion (US$694 million) into research and development, with much of this focused on sustainable solutions.

In 2023, XCMG says it achieved a nearly 15% reduction in carbon emission intensity compared to 2020 while cutting energy costs. The company reported total greenhouse gas emissions of 391,285.29 tons for the year – a decrease of 33,269.01 tons or 7% from the previous year – with new energy usage accounting for 19% of its total energy consumption.

The OEM has been named among the 2023 Intelligent Manufacturing Demonstration Factories by China’s Ministry of Industry and Information Technology and in 2023 secured 1,672 new patents, set 40 new standards, and received 1,229 software copyrights.

According to the report, XCMG Machinery invested over CNY 26 million (US$3.5 million) in global staff training during 2023, conducting more than 10,067 training sessions for nearly 400,000 participants across various domains, including technology management, marketing, and manufacturing. The company also conducted 964 safety hazard inspections, completed 12,320 corrective actions. 

The full report can be viewed here.