PR96290

SHANGHAI, June 1, 2022 /PRNewswire=KYODO JBN/ --

Shanghai Electric has announced the release of its annual Corporate Social

Responsibility (CSR) Report 2022, highlighting the Company's performance and

achievements in Environmental, Social, and Governance (ESG) in the fiscal year

2021.

This is Shanghai Electric's 13th CSR report as the Company continues to advance

its pledge to improve its transparency around its ESG practices and strengthen

its commitment to expediting the global energy transformation with its green

strategy. The report features Shanghai Electric's technological innovations

that drive the development of its three key business sectors – energy

equipment, industrial equipment, and integrated services – as well as outlines

its significant progress in implementing its low-carbon strategy to address

global climate-related issues. The report also includes a host of initiatives

launched by Shanghai Electric to upskill employees and college graduates as

part of its efforts to unlock their career potential and build a future-ready

workforce for the energy sector.

"Global businesses continue to grapple with the negative impact imposed by the

ongoing pandemic which has stalled progress in rejuvenating the world economy,

hindered international cooperation, and blunted efforts to tackle climate

change. In the face of a confluence of global challenges, Shanghai Electric has

set its priorities on low-carbon technologies and digital transformation as we

strive to become a leader and innovator in the new energy sector," Shanghai

Electric wrote in the report.

Empowering the Future with Technological Breakthroughs

To deliver innovative and reliable technology and climate change solutions

across the energy ecosystem, Shanghai Electric has ramped up investment in its

offshore wind business while strengthening its R&D capability to drive

innovation for energy storage. With digitalization, automation, and

sustainability serving as the growth engines for its business, Shanghai

Electric has also built on its state-of-the-art technologies for industrial

equipment to develop automation and systematic solutions for smart energy,

intelligent manufacturing, and smart infrastructure. In terms of integrated

services, the Company is accelerating its efforts to transform its business

model to push the servitization of its products.

Incorporating ESG as a Core Section of Its Business Operation

To enhance its continued endeavor to optimize its ESG oversight and management,

Shanghai Electric has formed a dedicated ESG committee tasked with setting up

the Company's general strategy with respect to ESG issues, assessing the risks

of its business operation to the environment, as well as evaluating its ESG

performance and progress.  

Against the backdrop of China's carbon neutrality and peak carbon goals,

Shanghai Electric is responding to the transition to renewable energy with

innovative business solutions and outfitting its products with energy-saving

technology to help drive down carbon emissions. Shanghai Electric is also

working with its partners to establish a green supply chain, holding the

highest standards to ensure every stage of a product – from designing and

manufacturing to operation and maintenance – is responsibly implemented.

The report also offers detailed information on Shanghai Electric's measures to

combat environmental issues, as well as data about its reduction in energy

consumption, greenhouse gas emissions, water consumption, pollutants and waste

emissions, in line with its ambition to become a holistically sustainable

company in the coming decades.

Speeding Up Green Transformation to Enable a Sustainable Tomorrow

Shanghai Electric is accelerating the development and application of low-carbon

technologies including hydrogen energy, energy storage, and carbon capture

while leveraging its business advantages to promote the development and

construction of new energy projects. Meanwhile, the Company is constantly

improving the blueprint and roadmap for its renewable solutions and services to

boost consumption capacity for new energy.

Shanghai Electric has bolstered the United Arab Emirates in its effort to help

the country achieve green energy transition by building the Dubai Photovoltaic

Energy Storage Station. Equipped with a 400KW photovoltaic system and a

1MWh-class battery energy storage system, the project replaces diesel

generators used in Shanghai Electric's offices in Dubai with renewable energy

sources.

Empowering the Next Generation of Electrical Engineers with Upskilling Programs

Equity is an integral part of Shanghai Electric's corporate culture, and the

Company actively promotes diversity, equity, and inclusion by creating a

working environment that is open and appreciative to all. Shanghai Electric

creates a workspace where all employees can self-determine their own career

pathways and offers channels and platforms for them to showcase and develop

their professional skills. In 2021, Shanghai Electric was named one of "China's

Best Employers" by Forbes, ranking 15th on the list.

To enable employees to enjoy equal opportunities and fulfill their potential,

Shanghai Electric has set up vocational education and training programs for

workers. In a format tailored to the needs of employees across multiple

business sectors, the in-house training program aims to satisfy people's

different interests and special requirements, facilitating their career growth.

Shanghai Electric is also committed to youth development by partnering with

universities and educational institutions to offer a series of offline training

programs designed to foster the employability of university students.

Leading the Development of China's Energy Sector

To create spaces with an aim to bring together industry leaders to exchange

ideas, strengthen business partnerships and discuss opportunities and

challenges facing China's energy industry, Shanghai Electric hosted a series of

forums, lectures and symposiums in 2021 that invited 72 industry experts and

attracted over 700 domestic researchers. Those nationwide events saw companies

debut 103 projects and ink 22 agreements. In addition, Shanghai Electric spent

3.4% of its total revenue on research and development in 2021, with expenditure

on R&D for key technologies and equipment increasing year by year.

SOURCE: Shanghai Electric