Yantai-based Wanhua Chemical unveiled its comprehensive Environmental, Social, and Governance report in which the company promises to achieve peak carbon emissions before 2030 and strive to achieve carbon neutrality by 2048 in line with the Greenhouse Gas Protocol's Scope 1 and Scope 2, which refer to direct emissions that are owned or controlled by a company, and indirect emissions that are a consequence of the activities of the company but occur from sources not owned or controlled by it, respectively.
"Guided by our mission 'Advancing Chemistry, Transforming Lives', Wanhua Chemical is dedicated to utilizing the power of chemistry to drive our own evolution and offer solutions to the collective challenges humanity faces, ultimately contributing to a sustainable future. Our ESG actions have solidified the foundation for our sustainable development and propelled us forward on this path towards a greener future," stated Liao Zengtai, Chairman of Wanhua.
Wanhua's sustainable strategy places the United Nations Sustainable Development Goals as the cornerstones of its efforts and is responsible for related strategic initiatives in eight major areas, including climate neutrality, environmental protection, industrial innovation, safety and health, talent development, social responsibility, corporate governance, and business ethics. The implementation and tracking of the project will promote sustainable development together with all relevant parties.
Looking ahead, Wanhua remains committed to its green, low-carbon, and sustainable development path. The Company will accelerate the transition to new energy sources such as wind power, photovoltaics, and green hydrogen, reducing reliance on traditional energy. Through technological innovation, Wanhua will continue to advance chemical production technology, achieving low energy consumption and zero emissions. The Company will invest in energy management technologies, enhance comprehensive energy utilization efficiency, and establish low-carbon and zero-carbon industrial parks. With a focus on R&D and innovation, Wanhua will take long-term actions toward sustainability, fully integrating sustainable development into its business operations, and collaborating with all stakeholders to create a sustainable future.