As early as July 2020, Apple committed to achieving 100% carbon neutrality for its products and supply chain by 2030. With the launch of Apple's first carbon-neutral Apple Watch lineup this season, significant progress has been made towards the company's climate goal. It is said that at least a 75% reduction in product emissions for each carbon-neutral Apple Watch model has been achieved, resulting from 100% clean electricity for manufacturing and product use, 30% recycled or renewable material by weight, and 50% of shipping without the use of air transportation.As of April 5, 2023, 68 suppliers of Apple in China committed to 100% renewable electricity for all of their Apple production by 2030, including Luxshare Precision. Luxshare Precision's Chairman Grace WANG also expressed the commitment in a recent media interview, "Green and low-carbon initiatives, along with sustainable development, are crucial issues in Luxshare Precision's high-quality development process. Luxshare Precision has made a lot of efforts to balance the relationship between green practices and efficiency. Green transformation is a necessary path and, in the long run, can bring positive economic and social benefits to the company."
According to data, Luxshare Precision has disclosed social responsibility reports/sustainability reports for nine consecutive years since 2014. Through active ESG practices, Luxshare Precision has contributed to the sustainable development of the industry and society as a whole.
Great importance attached to addressing climate change and increasing the proportion of clean energy use
According to the company's sustainability report, Luxshare Precision references the internationally recognized TCFD (Task Force on Climate-related Financial Disclosures) framework and has established a carbon neutrality working group responsible for climate change affairs. The company also plans to achieve carbon reduction targets in line with the SBTi (Science-Based Targets initiative) 1.5°C pathway by 2030, clean energy transformation by 2050, and a 50% proportion of clean energy use by 2025.
To provide customers with more efficient and energy-saving product solutions, Luxshare Precision invested RMB75.3 million in energy conservation and carbon reduction throughout the year 2022. Additionally, the company invested RMB260 million in clean technology R&D and plans to invest more than RMB300 million in 2023.
Chairman Grace WANG stated that Luxshare Precision has actively promoted energy efficiency upgrades and structural transformation in recent years. On the one hand, the company has vigorously introduced new technologies and smart energy management platforms to optimize the energy efficiency of various facilities and equipment, reduce energy consumption, and achieve energy conservation and carbon reduction. On the other hand, Luxshare has taken the lead in implementing rooftop photovoltaic projects in major production bases such as Kunshan. Furthermore, the company has explored the possibilities of using other types of renewable and clean energy through initiatives such as direct purchase of green electricity, green energy investments, and procurement of products with green certificates.
Employee safety first to ensure a responsible supply chain management system
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