BYD 2024 ESG Report Highlights Tech Innovation

BYD Unveils 2024 Sustainability Report, Focusing on Innovation and Global Goals

On March 26, BYD Company Limited published its 2024 Sustainability Report, comprehensively detailing the company's strategic plans, achievements, and long-term commitments in the Environmental, Social, and Governance (ESG) sectors. The report highlights BYD's dedication to sustainable development through technology innovation, significantly impacting green energy, social responsibility, and corporate governance.

In 2024, BYD elevated ESG strategies to the group's strategic level, establishing a board-level Strategic and Sustainable Development Committee. The company appointed Zhao Jianping as Chief Sustainability Officer (CSO) and integrated ESG performance into the compensation assessments of executive directors and senior executives, accounting for 10% of their evaluations. This move demonstrates BYD's commitment to practicing ESG principles.

For decades, BYD has driven the green development of new energy vehicles, energy storage, and photovoltaics through technological innovation. In 2024, BYD introduced the novel sustainability concept "DREAMS," encompassing green initiatives, innovative transformation, equal opportunities, collaborative cooperation, integrity, and value sharing, to advance sustainable human and environmental development.

The report pledged to reduce BYD's operational carbon emissions intensity by 50% by 2030 and achieve carbon neutrality across the entire value chain by 2045. In 2024, the cumulative pure electric mileage of BYD's stock of new energy vehicles exceeded 150 billion kilometers, equivalent to planting over 504 million trees. The company added over 410 energy-saving projects, resulting in a carbon reduction of approximately 210,000 tons. BYD also invested around 1.41 billion CNY in waste disposal, achieving 100% compliance with pollutant emission standards.

Domestically, BYD paid over 51 billion CNY in taxes and streamlined supplier payments to an average of 127 days, outpacing major listed automakers. The company ramped up social responsibility efforts by launching a 3 billion CNY education charity fund, focusing on university scholarships and new energy vehicle technology dissemination. By the end of 2024, BYD employed 968,872 people, creating substantial job opportunities. It prioritized employee development, nurturing 57,800 skilled talents and implementing a zero-cost stock ownership plan valued over 1.8 billion CNY, covering nearly 12,000 employees. BYD won several honors in 2024, including "Asia's Best Employer" awards.

BYD increased its research and development investments to 54.2 billion CNY in 2024, accounting for 6.97% of its revenue, with 122,000 research personnel and a global cumulative of over 59,691 patent filings. BYD's innovation-driven strategy, exemplified by the launch of the fifth-generation DM and Yi Chang phase III technologies, continues to propel the new energy sector forward.

Looking ahead, BYD plans to drive high-quality development and global sustainability goals through technological innovation, industry-wide carbon reduction, social welfare investments, and governance optimization. As the global automotive market shifts towards sustainable technologies, BYD's commitment positions the company as a leader in environmental responsibility and social responsibility, making it an attractive partner for environmentally conscious consumers and businesses worldwide.

For those interested in exploring sustainable automobile options or investing in green technologies, BYD's initiatives offer compelling opportunities. With sustainable development becoming increasingly critical in automotive markets worldwide, BYD's innovative approach is well-aligned with international demands for eco-friendly vehicles. If you are considering options for purchasing environmentally friendly cars from China, TopUsedCars.com provides comprehensive services, including purchasing, logistics, and export assistance for customers from the Middle East, Africa, and other regions.