Wanhua Chemical reduces GHG emissions of products by 14%

Wanhua Chemical unveiled its comprehensive Environmental, Social, and Governance (ESG) report this week (July 19, 2023). As said, the leading Chinese chemicals company has already achieved remarkable milestones in its ESG initiatives.

GHG emissions reduction and circular economy on track

In 2022, Wanhua Chemical’s greenhouse gas (GHG) emissions per tonnage of products dropped 14% from the end of 2021, and it will drop by at least 20% by 2030.

The company estimates that, by 2030, all of its joint clean energy projects will secure 14.9 billion kilowatt-hours of clean electricity every year and reduce carbon emissions by 8.65 million tons. In water resource management, it managed to decrease freshwater consumption per unit product by 29% when compared with 2021.

Meanwhile, waste management has been included in the commitment to achieving a ≥10% decrease in exhaust gas emissions intensity and solid waste emissions intensity compared to the baseline year.

Wanhua Chemical also actively promotes recycling and circular economy. In 2022, the company implemented polyurethane recycling and reuse, opening up new channels for processing waste polyurethane foam. The green brand Waneco was launched in June, covering post-consumer recycling, biodegradable, and bio-based materials.

Wanhua Chemical 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.

Wanhua Chemical unveiled its comprehensive Environmental, Social, and Governance (ESG) report.

Promote safety, health and improve governance

In the social sphere, Wanhua Chemical focuses on chemical safety and employee health. The company also fulfills its social responsibilities by supporting community development in the areas it operates. It contributed to external donations and public welfare projects with more than 12 million yuan.

Governance improvements have been a priority for Wanhua Chemical. In the year 2022, the company adopted a flattening of management levels. Over 95% of internal business transfers have been streamlined in 1-3 steps. It has also strengthened business ethics, compliance operations, and anti-corruption prevention.

“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 Chemical.