Boway Alloy Recognized for Commitment to Sustainability by EcoVadis and CDP

USA - English

• USA - English

NINGBO, China, Dec. 24, 2024 /PRNewswire/ -- In today's fast-evolving global market, sustainability is not just a buzzword but a central pillar of strategic success, and Ningbo Boway Alloy Material Co., Ltd. (SHSE: 601137; "Boway Alloy") is at the forefront of this movement. Recognizing the critical importance of sustainable practices in ensuring long-term growth and resilience, Boway Alloy has embedded sustainability into the core of its operations. This unwavering commitment was acknowledged in 2024 when the company was awarded the Silver Medal by EcoVadis, the leading global provider of business sustainability ratings.

EcoVadis conducts comprehensive assessments across four critical areas: environment, labor and human rights, ethics, and sustainable procurement. Boway Alloy's Silver Medal from EcoVadis places the company in the top 15% of all evaluated companies globally, underscoring its strong performance and ongoing commitment to environmental protection, social responsibility, and governance.

Complementing this recognition, in the 2023 global climate ranking by the non-profit organization CDP (Carbon Disclosure Project), Boway Alloy achieved an impressive "A" score for emission reduction initiatives and low-carbon products. Overall, the company received a "B" rating, surpassing both the Asia regional average of "C" and the electrical & electronic equipment sector average of "C". The CDP is a premier global platform for environmental impact disclosure, rates organizations on their environmental stewardship. Boway Alloy's performance highlights its significant strides in minimizing emissions and promoting green technologies, further cementing its role in advancing sustainable solutions.

As a company committed to social responsibility, Boway Alloy has consistently prioritized sustainable development. In a significant move towards environmental responsibility, Boway Alloy has developed short-, medium- and long-term energy-saving and emission-reduction plans to contribute to global low-carbon and sustainable development efforts.

A key focus of its sustainability strategy is the energy-efficient transformation of major equipment such as motors, transformers, and air compressors. These upgrades are projected to reduce carbon dioxide emissions by over 7,000 tons annually. Additionally, it has installed systems for reclaimed water reuse and intelligent control of circulating cooling water quality, which will significantly reduce wastewater discharge and optimize resource utilization, minimizing reliance on natural water resources.

Embracing green and clean energy, Boway Alloy has installed solar rooftop photovoltaic systems across multiple facilities in China and Vietnam. This initiative allows these facilities to utilize self-generated photovoltaic clean energy, reducing carbon dioxide emissions by over 2,500 tons each year. Boway Alloy plans to increase its use of clean energy to account for 40% of its total electricity consumption by 2030.

In terms of material recycling, Boway Alloy has established a recycling mechanism for raw materials, utilizing advanced technology to ensure the rational recycling of raw materials, addressing the challenges of recycling waste from pre-plated materials and complex alloys. Several products have received international circular material standard certifications such as ISO 14021 and SCS Recycled Content. By 2030, Boway Alloy aims to increase the proportion of recycled raw materials in alloy materials to over 90%.

Moreover, Boway Alloy focuses on the innovation and development of environmentally friendly materials. Utilizing an industry-leading digital R&D platform, Boway Alloy has significantly shortened the R&D cycle and reduced costs, developing several lead-free and beryllium-free eco-friendly new alloy materials. These materials are widely used in 3C consumer electronics, communications, and new energy vehicles, meeting international environmental certifications such as RoHS and FDA. 

At the same time, Boway Alloy excels in areas such as employee welfare, social responsibility initiatives, and governance frameworks, which collectively bolster the implementation of its sustainability strategy. The company invests in employee training programs and promotes diversity initiatives, ensuring a supportive and inclusive workplace. Additionally, Boway Alloy engages with local communities through targeted outreach programs, reinforcing its commitment to social responsibility. These endeavors demonstrate a comprehensive approach to sustainability by weaving environmental, social, and governance elements into the fabric of its core operations.

Sustainable development is an enduring pursuit and a key objective for Boway Alloy. The recognitions from EcoVadis and CDP underscore its accomplishments and commitment in this critical area. By leveraging digitalization to drive its sustainability efforts, Boway Alloy is committed to moving forward with greater determination and more robust actions, striving to create a greener, cleaner, and more sustainable world.

About Boway Alloy

Established in 1993, Ningbo Boway Alloy Material Co., Ltd. (SHSE:601137) specializes in R&D and manufacturing of high precision, high-performance non-ferrous alloy rods, wires, and strips. These materials are used in over 30 industries, including high-speed rail, telecommunications, automotive, and more. The company also focuses on developing environment-friendly, lead-free brass alloys, cost-saving titanium-zirconium copper zinc alloys, and energy-efficient brass materials.

For more information, please visit: https://www.bowayalloy.com/en/.

SOURCE Ningbo Boway Alloy Material Co., Ltd.