Recently, IFU released its 2022 Corporate Social Responsibility (CSR) report. This is the fifth year in a row since 2019 that the company has released its CSR report, which provides a comprehensive picture of the company’s environmental, social and governance work in 2022.

The CSR report shows that in 2022, the green business revenue of Industrial Fulian clean technology and products reached 214.356 billion yuan, accounting for 41.88% of the total revenue; By implementing 855 environmental protection, energy conservation and emission reduction projects, China will reduce carbon emissions by more than 150,000 tons in 2022, a year-on-year increase of 300%.

In this CSR report, IFU revealed its ESG vision and 12 major action paths for the first time. Centering on the vision of “greener, more harmonious and more standardized”, it outlined a blueprint for sustainable development in six directions: “circular economy, digital intelligence empowerment, people-oriented, happiness sharing, integrity and compliance, safety and reliability”.

“We stick to the ‘EPS+ESG’ sustainability equation.” “For IFF, ESG is not only a choice that follows the trend, but also an initiative to explore the future,” said Mr Cheng Hongmeng, CEO and Chairman of the Sustainable Development Committee of IFF.

PM3326B-6-1-2-E 80026-529-01

PM3326B-6-1-2-E 80026-529-01

PM3326B-6-1-2-E 80026-529-01

In retrospect, the outside world’s recognition of the work of industrial Rich Union ESG is increasing year by year. Among them, MSCI upgraded its ESG rating to triple B in 2022, three levels higher than CCC in 2020.

In 2022, IFU incorporated SDGs into its corporate development strategy as an important direction for future sustainable development leadership and ESG deep cultivation. It plans to publish SDGs strategy white paper in 2023 to comprehensively announce SDGs response strategy, goal setting and action plan.

In response to the “two-carbon” strategy, Fulian has set the “two-carbon” goal of carbon neutrality in operation by 2035 and zero emissions in value chain by 2050. It has developed a special clean strategic plan and gradually shifted its business focus to the field of clean technology. And in the renewable energy, industrial automation, artificial intelligence, intelligent manufacturing services, energy efficiency management, technology application has achieved initial results.

Behind a series of achievements, industrial rich Union’s research and development investment continues to improve. In 2022, the company’s R&D investment in new energy, energy conservation and efficiency improvement, pollution control and other high-tech innovation fields reached 11.588 billion yuan, and the number of clean technology patents increased by 343, up 42.7 percent year on year. By the end of 2022, the company’s research and development team has exceeded 30,000 people.