BWI Group announced its commitment to advancing sustainable development through ESG strategies
BEIJING, CHINA, February 2, 2024 /EINPresswire.com/ — BWI Group announced its commitment to advancing sustainable development through ESG strategies. This initiative aims to enhance the company’s performance in environmental protection, societal impact, and governance practices, ultimately bolstering its competitive edge and establishing a robust foundation for long-term growth along the path of sustainability.
ESG (Environmental, Social, and Corporate governance) is a framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance criteria. ESG fully integrates the characteristics of corporate operations, approaching from a market perspective, and imposes more comprehensive and stringent normative requirements for corporate sustainable development.
George Chang, Board Director and Global CEO of BWI Group said, “BWI Group is actively taking on the responsibility of corporate citizenship as a key link in the auto industry upstream value chain. We launched concrete measures worldwide across all our sites to empower customers to realize their carbon emission goals.”
In terms of environmental initiatives, BWI Group is dedicated to environmental conservation, proactively addressing environmental impact throughout its production and operational processes. The company takes responsibility for environmental protection, emphasizing energy efficiency, reducing resource consumption, advocating for green production practices, and minimizing environmental pollution, all contributing to the realization of carbon neutrality goal.
Previously, in November 2023, BWI Group announced its sustainable development goals: to achieve 100% use of renewable energy in manufacturing by 2027, and carbon neutrality in the operational domain. Simultaneously, it aims to achieve net-zero greenhouse gas emissions across its supply chain by 2050.
BWI Group has developed an ambitious carbon neutral plan to promote customers’ sustainable development activities around the world. The first step is to power all BWI Group manufacturing facilities using 100% renewable energy by 2027, which will help the group achieve carbon-neutral emissions in operations in the same year.
The second step is to remove an equivalent amount of all seven greenhouse gases from emissions in production and supply-chain activities to achieve net-zero greenhouse gas emissions in supply chain by 2050.
To reach these ambitions and targets, BWI Group has developed eight workstreams to drive decarbonization throughout its organization. This initiative is directly related to the United Nation’s Sustainable Development Goals. Additionally, BWI Group has established a Sustainability Board and appointed a Global Sustainability Director to oversee climate strategic actions covering these eight workstreams.
The sustainability initiatives implemented thus far have involved several reporting and auditing initiatives that measure the group’s progress towards sustainability targets, including the following globally accepted approaches: Science Based Targets initiative (SBTi), Carbon Disclosure Project (CDP), NQC (SAQ 5.0), EcoVadis, Responsible Business Alliance (RBA), Responsible Mineral Initiative (RMI), and Conflict Mineral Reporting Template (CMRT).
Taking a holistic approach, ESG emphasizes that sustainable development extends beyond environmental concerns to encompass heightened demands and standards in both social and governance aspects. BWI Group believes it is crucial that all business activities operate with integrity as outlined in the company’s values, missions, and vision statement. This applies both to BWI Group and its business partners.
All BWI Group’s employees and suppliers are called upon to observe the principles and rights set forth in the guidelines of the UN Initiative “Global Compact” and the “International Labor Organization Declaration on Fundamental Principles and Rights at Work” and to align their due diligence processes with the requirements of the “Guiding Principles on Business and Human Rights” by the United Nations.
BWI Group conducts business with the utmost integrity, upholding the legal principles of the regions where it operates and avoiding actions or relationships that might conflict or even appear to conflict with job responsibilities or interests. BWI Group requires legal compliance from employees and all business partners throughout entire value chain, particularly with regard to corruption and fraud prevention, anti-trust matters, taxation regulations, data protection and privacy, and export controls.
Adhering to the commitment of “Delivering safe, comfortable, smart, and sustainable ride and drive solutions”, BWI Group is actively engaged in building green factories, striving towards carbon neutrality in production and operations. BWI Group not only demonstrates a proactive attitude towards environmental protection and social responsibility but also sets an exemplary standard for sustainable development through tangible actions. Looking ahead, BWI Group is dedicated to further fortifying resilience in tackling environmental and societal challenges, continuously exerting efforts to seize developmental opportunities and earn sustained market recognition in the journey towards decarbonization and sustainable development.
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