Zhitong Finance App News. Recently, Longyuan Electric Power (00916) released the “2023 Environmental, Social and Governance Report”. The company aims to promote ideas and raise the awareness of all employees. The company has achieved remarkable results by systematically and systematically promoting ESG work in terms of improving the organizational structure, consolidating the management foundation, strengthening capacity building, and expanding communication.

Longyuan Electric Power is the first specialized company to develop wind power generation in China. It pioneered the offshore, low wind speed, and high altitude wind power fields in China. It has become a large-scale comprehensive power generation group that mainly develops and operates new energy sources. It has various energy projects such as wind power, photovoltaics, tidal, geothermal and thermal power generation. Its business is distributed in 31 provinces, regions, cities, South Africa, Canada and other countries, making positive contributions to the green and low-carbon development of global energy and the use of renewable energy.

During the reporting period, in order to meet the sustainable development needs of enterprises and enhance ESG governance capabilities, Longyuan Electric Power further improved the “top-down, three-level linkage, and professional support” governance structure. At the same time, the company attaches great importance to maintaining good communication with all stakeholders. During the period, it actively disseminated the company's latest ESG practice progress through high-level platforms such as “China Central Radio and Television” and “Fortune China ESG Summit”.

Technological prosperity, innovation leads development

In 2023, the cumulative number of patents granted by Longyuan Electric Power reached 540, added 88 new patent applications, and participated in the formulation of 15 national or industry standards; it invested 237 million yuan in R&D throughout the year, an increase of 113% over the previous year.

Longyuan Electric Power attaches great importance to technological transformation, insists on forward-looking promotion of digital transformation and upgrading, and has built the world's largest digital platform for new energy production. Data empowers the overall enhancement of smart operation capabilities, and has become one of the pilot enterprises for digital transformation of the State Assets Administration Commission. During the period, the company made every effort to create a “visible site”, and the production digital platform connected a total of 74,000 channels of video, achieving a 100% access rate. Longyuan Electric Power's scientific and technological innovation “gold content” is impressive. It completed the installation of the world's first floating wind and fishing integration project “National Energy Sharing Number” to achieve the first innovation in the world's integrated design concept for wind and fishery farming; actively promoted the Alashan hydrogen production and ammonia synthesis project, implemented an integrated solution of “green hydrogen to consume green electricity, green ammonia to consume green hydrogen”, and explore new energy development paths centered on self-consumption.

Green development and promotion of low carbon symbiosis

Longyuan Electric Power is committed to becoming a model for green transformation and development and a practitioner of carbon neutrality in promoting carbon peak carbon neutrality. In 2023, the total power generation capacity was 76,225,815.82 megawatt-hours (2022:70,633,024.00 megawatt-hours), of which 65,906,020.00 megawatt-hours were generated from renewable energy, accounting for 86.46% of the electricity generation.

The company's greenhouse gas emissions mainly come from carbon dioxide emissions generated by its two thermal power companies. In 2023, the total greenhouse gas emissions of the thermal power business were 9,950,660.00 tons of carbon dioxide equivalent, a year-on-year decrease of 2.7%; the greenhouse gas emission intensity of the thermal power business was 832.13 g/kWh (2022:835.32 g/kWh).

Guided by strategic planning, Longyuan Electric Power has achieved outstanding results in large-scale development, creating a highland for clean energy development; continuously develops “new energy +” integration projects, and insists on superposition innovation of technology and models. This year, the company's base project took the lead. Following the first phase of Tengger Zhongwei's 1 million kilowatt full capacity grid-connected power generation, construction of the second phase of 2 million kilowatts began as scheduled, and part of the Batang Jilin “Solar Thermal +” project was put into operation in Dunhuang.

While vigorously developing new energy, the company insists on exploring the sustainable development paradigm of “new energy construction+ecosystem protection and restoration”, protecting the ecological environment of the project site, constructing an implementation path where wind power, photovoltaics and the ecological environment coexist harmoniously, and achieve a win-win situation for renewable energy development and ecological protection.

Pay attention to employee training and protect employee safety

Longyuan Electric Power strives to create a healthy, safe, equal, inclusive, diverse and prosperous working environment for employees. The company promotes talent team building in an integrated manner, and uses various forms to recruit talents to add fresh blood to enterprise development. At the same time, it also establishes a promotion and training system covering all employees, and sets up scientific and customized competency training programs for employees at different levels to give full play to the value and potential of “people” and ensure an organic combination of employee promotion and enterprise development. In 2023, the company invested 54.11,800 yuan in employee training, an increase of 26% over the previous year; employee training coverage reached 91.59% (2022:86.07%); the average number of hours employees participated in training was 141.90 hours (2022:161.91 hours).

Longyuan Electric Power also continues to improve the health, safety and environment (HSE) management system, implement full-process control of production safety, strengthen occupational health and production safety infrastructure, always pay attention to employees' physical and mental health, and continuously improve occupational safety management standards and employees' occupational health awareness. In 2023, the company invested 298.5153 million yuan in occupational health. A total of 37,937 people participated in occupational health and safety training, and 2,580 emergency drills.

Build a sustainable supply chain to promote mutual benefit and co-prosperity

Longyuan Electric Power has always been committed to minimising environmental, social and governance risks in the supply chain. In 2023, it will revise 4 systems including the “Supplier Management Measures”, expand the scope of supplier control and evaluation, incorporate ESG management standards into the supplier evaluation system, and strive to create a “fair, open and supervised” competitive environment.

While pursuing economic value, the company takes sustainable development into comprehensive consideration. In the procurement process, the company prioritizes products that meet specific environmental protection requirements, are harmless or less harmful to the ecological environment, have high resource utilization, and low energy consumption throughout the product life cycle. All products are required to meet national environmental standards and energy consumption standards.

(Link ESG researcher Xie Yuxia)