NINGBO, China, December 24, 2024 /PRNewswire/ — In today’s rapidly developing 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 stability, Boway Alloy places sustainability at the core of its operations. This unwavering commitment was recognized in 2024 when the company was awarded a Silver Medal by EcoVadisthe leading global provider of business continuity ratings.

EcoVadis conducted a comprehensive assessment of four critical areas: environment, labor and human rights, ethics, and sustainable procurement. It’s Boway Alloy Silver Medal from EcoVadis placing the company in the top 15% of all evaluated companies worldwide, highlighting its strong performance and continued commitment to environmental protection, social responsibility, and governance.

Adding to this recognition, the 2023 global climate ranking of the non-profit organization CDP (Carbon Disclosure Project), Boway Alloy achieved an impressive “A” grade for emission reduction initiatives and low-carbon products. Overall, the company received a “B” rating, surpassing both ASIA regional average of “C” and the electrical and electronic equipment sector average of “C”. CDP is a leading global platform for environmental impact disclosure, rating organizations on their environmental management. Boway Alloy’s performance highlights its significant steps in reducing emissions and promoting green technologies, further cementing its role in developing sustainable solutions.

As a company committed to social responsibility, Boway Alloy always prioritizes sustainable development. In a significant step 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.

The main 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 more than 7,000 tons per year. In addition, it has installed systems for reclaimed water reuse and intelligent circulation control of cooling water quality, which can significantly reduce waste water discharge and -optimize the use of resources, reducing dependence on natural water resources.

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

In terms of material recycling, Boway Alloy has established a recycling mechanism for raw materials, which uses advanced technology to ensure reasonable recycling of raw materials, solving the challenges in recycling waste from pre-plated materials and complex alloys. Many products have received international circular material standard certification 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%.

In addition, Boway Alloy focuses on innovation and development of environmentally friendly materials. Using an industry-leading digital R&D platform, Boway Alloy has greatly shortened the R&D cycle and reduced costs, developing more 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 management frameworks, which together strengthen the implementation of its sustainability strategy. The company invests in employee training programs and promotes diversity initiatives, ensuring a supportive and inclusive workplace. In addition, Boway Alloy engages with local communities through targeted outreach programs, reinforcing its commitment to social responsibility. These efforts demonstrate a comprehensive approach to sustainability by integrating environmental, social, and environmental management elements into its core operations.

Sustainable development is an enduring pursuit and an important goal for Boway Alloy. The identifications are from EcoVadis and CDP highlights its achievements and commitment in this critical area. By using digitalization to drive its sustainability efforts, Boway Alloy is committed to moving forward with greater determination and stronger actions, striving to create a greener, cleaner, and a more sustainable world.

About Boway Alloy

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

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