Neway Valve (Suzhou) Co., Ltd. (Neway Valve) has released its comprehensive 2024 Environment, Social, and Governance (ESG) Report. The report is a testament to a deeply ingrained philosophy, which the Chairman's opening remarks frame as a dual commitment to "technical innovation" and "green manufacturing".
This dedication translates into tangible, impressive results. The report showcases a 100% compliance rate for all wastewater and exhaust gas emissions while simultaneously fostering a positive workplace culture that has achieved a 94.63% employee satisfaction rate. These figures are the outcome of a deliberate, strategic integration of ESG principles into every facet of Neway's operations. This approach is a critical development for valve industry trends, where demonstrating a commitment to sustainability is becoming as important as product quality itself.
Neway Valve's environmental stewardship goes far beyond mere compliance. The company is actively building a legacy of green manufacturing, a commitment recognized by its prestigious designation as a "Jiangsu Provincial Green Factory" in 2024. This award is the culmination of strategic initiatives aimed at minimizing the company’s ecological footprint and championing industrial emissions reduction.
1) Harnessing Green Energy: Neway has made significant strides in adopting clean energy. By expanding its solar photovoltaic projects, the company's share of green electricity has risen to 9.59% of its total consumption. Its Suzhou solar installation alone generates 3.62 million kWh annually, reducing CO₂ emissions by approximately 2,036.56 tonnes per year.
2) Innovating for Energy Efficiency: The company actively seeks out opportunities for energy conservation. A prime example is the 2024 energy-saving renovation of its air compressor rooms, a project that recovers waste heat for use in the production process. This single initiative has already saved over 81,138 kWh of electricity.
3) Reducing Carbon Intensity: The most telling metric of success is the significant reduction in emissions relative to production. In 2024, Neway lowered its Scope 1 & 2 carbon emission intensity per tonne of product by an impressive 15.38% compared to the previous year. This demonstrates a successful decoupling of business growth from environmental impact, a key goal in manufacturing and sustainability.
Neway believes that a sustainable company is built on the well-being of its people and the strength of its community ties. This "people-first" approach is evident in its exceptional workplace culture and robust community engagement programs.
Neway's success is driven by its 4,053 employees, and the company invests heavily in their safety, development, and satisfaction. The results speak for themselves:
1) Unwavering Commitment to Safety: Neway’s focus on occupational health and safety is clear and proactive. In 2024, the company recorded zero work-related deaths or serious injuries and maintained a consistently low Lost Time Injury Rate (LTIR) of 0.24. This achievement is the result of continuous investment and hands-on training, such as the immersive drills conducted during its annual Safety Month, which strengthen the company’s safety defense line.
2) Empowerment Through Training: Neway provides extensive opportunities for professional growth, with employees receiving an average of 29.84 hours of training per person in 2024. This commitment ensures a highly skilled and motivated workforce.
3) Fostering Diversity and Inclusion: The company actively promotes a diverse and equitable workplace. Women hold 10% of senior management positions and occupy 28.57% of the seats on the Board of Directors, reflecting a culture that values diverse perspectives at the highest levels.
Neway extends its sense of responsibility beyond its factory walls, actively participating in social and charitable initiatives. The company's cumulative charitable donations have reached 3.888 million RMB. Key activities in 2024 included:
1) Supporting Rural Education: Continuing a long-standing tradition, Neway provided financial aid to 64 students in the rural Zhenba region of Shaanxi, helping to foster talent and opportunity.
2) Life-Saving Blood Drives: In 2024, 97 employees participated in a company-organized blood drive, donating a total of 30,700 mL to support local healthcare needs.
3) Caring for the Elderly: Volunteers regularly visit local nursing homes, providing companionship and assistance, and embodying the company’s spirit of community care.
A strong ESG framework requires a foundation of unwavering integrity and transparent governance. Neway has established a robust structure to ensure its ethical and strategic commitments are met with rigorous oversight and execution.
1) Championing Business Ethics: Neway maintains a zero-tolerance policy for corruption. In 2024, the company conducted comprehensive anti-commercial bribery and business ethics training for 4,053 participants, achieving 100% coverage among employees. The company proudly reports zero confirmed incidents of corruption.
2) A Robust ESG Governance Structure: Accountability is embedded throughout the organization via a clear, three-tiered ESG management system. The Board of Directors sets the overarching strategy, the ESG Committee provides expert guidance and risk assessment, and the ESG Working Group ensures the strategy is implemented effectively across all business units. This structure guarantees that the Neway Valve’s ESG strategy is not just a plan, but a practiced reality.
Founded in 1997, Neway Valve (Suzhou) Co., Ltd. (Stock Code: 603699.SH) has grown into a leading industrial valve manufacturer in China and a significant force on the global stage. Listed on the Shanghai Stock Exchange in 2014, Neway is dedicated to providing comprehensive valve solutions for a wide range of industries, including oil and gas, chemical, power, and marine applications. With a sales and service network spanning over 90 countries, Neway combines cutting-edge technology with a commitment to quality and sustainable development.
Neway Valve's 2024 ESG report demonstrates a deep commitment to balancing economic ambition with environmental and social responsibility. These dedicated efforts and their tangible results have now earned significant international recognition: Neway has been awarded the Bronze Medal for sustainability by the globally-recognized rating agency, EcoVadis. This achievement places the company in the top 35% worldwide and confirms its leadership position as #1 in China’s valve industry and among the top 18 in China's general machinery sector. It serves as powerful, third-party validation that Neway's ESG strategy is creating real value and setting a high standard for the industry.
This report is more than a look back at the past year; it's a blueprint for a resilient, responsible, and forward-thinking future. We encourage you to witness Neway's journey firsthand.
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