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BYD Releases 2024 ESG Report: Driving Sustainable Development with Technological Innovation
BYD has released its 2024 Sustainable Development Report, systematically disclosing the company's strategic planning, practical achievements, and long-term commitments in the areas of environment, society, and governance (ESG). The report shows that BYD, with technological innovation at its core, has achieved significant results in green and low-carbon development, social responsibility fulfillment, and corporate governance optimization.
BYD has elevated ESG work to the strategic level of the group, not only establishing a Board-level Strategy and Sustainable Development Committee but also appointing Vice President Zhao Jianping as Chief Sustainability Officer (CSO). Additionally, ESG performance has been incorporated into the compensation assessments of executive directors and senior management, accounting for 10%. Through concrete actions, BYD demonstrates its determination to excel in ESG.
For thirty years, BYD has been driving the green development of the new energy vehicle, energy storage, and photovoltaic industries through technological innovation. In 2024, BYD innovatively proposed the sustainable development concept "DREAMS," promoting the sustainable development of humanity and the planet across six dimensions: green and low-carbon, innovation and transformation, equal opportunity, collaboration, integrity and compliance, and value sharing.
In this report, BYD set a mid-term goal of "reducing carbon emission intensity in its own operations by 50% by 2030" and committed to achieving carbon neutrality across the entire value chain by 2045. In 2024, the cumulative pure electric mileage of BYD's existing new energy vehicles exceeded 150 billion kilometers, equivalent to planting 504 million trees. BYD implemented over 410 energy-saving renovation projects throughout the year, with cumulative energy-saving benefits equivalent to reducing 210,000 tons of carbon dioxide emissions. BYD also invested approximately 1.41 billion yuan in waste disposal, achieving 100% compliance in pollutant emissions.
BYD's total domestic tax payments reached 51 billion yuan, with an average payment cycle to upstream suppliers of 127 days, outperforming mainstream listed automakers in China. BYD actively fulfills its social responsibilities, launching a 3 billion yuan education charity initiative focused on supporting university scholarships and popularizing new energy vehicle technology. BYD prioritizes employee development and talent retention, internally training 57,800 skilled professionals. The employee zero-cost stock ownership plan amounted to over 1.8 billion yuan, covering nearly 12,000 people. In 2024, BYD received multiple honors, including the "Asia Employer Award" and "Talent Employer."
BYD increased its R&D investment, with R&D expenditure reaching 54.2 billion yuan in 2024, accounting for 6.97% of operating revenue. The company has 122,000 R&D personnel and has filed 59,691 patent applications globally, with 35,837 authorized. Guided by the development philosophy of "technology first, innovation-based," BYD introduced leading technologies such as the fifth-generation DM and e3 Platform in 2024, continuously advancing the new energy industry.
In the future, BYD will promote high-quality corporate development and the achievement of global sustainable goals through technological innovation, collaborative carbon reduction across the entire industry chain, long-term social welfare investments, and optimization of corporate governance systems. BYD also hopes to join hands with society to lower the Earth's temperature by 1°C and build a better tomorrow together.
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