AsiaNet  89308

SHANGHAI, April 30, 2021 /PRNewswire=KYODO JBN/ --

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, the

12th CSR report and the 5th ESG report of Shanghai Electric, details the data

disclosed from Shanghai Electric's headquarters, 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 the MSCI Environmental, Social, and

Corporate Governance (ESG) rating and the Hang Seng Corporate Sustainability

Index. It 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.

Corporate governance: A comprehensive ESG governance system that integrates

sustainability into Shanghai Electric's long-term strategic goals

Shanghai Electric has established a special ESG governance structure to ensure

sustainable development is embedded into the group's strategic layout. The

top-down structure consists of the board of directors, ESG management committee

including an ESG expert committee, and an ESG task force containing the board

of directors and three sub-groups.

Product development: combining intelligence and innovation

Relying on its advantages in the equipment manufacturing industry, Shanghai

Electric 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. The company continued to

support technology research and product development in key areas, and actively

explored and cultivated new industries and technologies. During the reporting

period, Shanghai Electric had committed RMB 4.75 billion to R&D, which was an

increase of 8.55% year-on-year and accounted for 3.47% of annual total

operating income.

Environmental responsibility: conserving energy, enhancing efficiency, and

reducing emissions

Over the years, Shanghai Electric has adhered to its belief that environmental

conservation is pivotal to sustainable development, and the company has

included environmental considerations at every link within its industrial

chain. The Report 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; and

Unit 5 and 6 (2×1240MW) in the Guangdong Huaxia Yangxi Power Plant Phase II

Project, of which Unit 5's heat consumption has already been reduced by 1.65%

underrated working conditions.

Shanghai Electric has also completed the application and registration of

pollutant discharge permits for 107 companies, leveraged these permits to

strengthen compliance, and partnered with government departments to implement

green production audits for six enterprises. In 2020, the group conducted a

thorough emissions investigation in 86 production enterprises, six industrial

plants and five plots, from which a number of opportunities and guidelines for

improvement were proposed.

Social responsibility: providing assistance during the COVID-19 pandemic

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 party members and bodies to

donate RMB 8.8 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.

Source: Shanghai Electric