Geely Holding Highlights Group-wide Progress towards Zero-Carbon Sustainability in 2023 Sustainability Report

  • Geely Holding highlighted progress towards its Three Zeros sustainability visions, namely zero carbon transformationzero ecological burden, and zero vehicular casualties in its 2023 Sustainability Report.
  • Accelerating the Group’s zero-carbon transformation, Geely Holding saw its aggregate vehicle sales volume reach 2.79 million units in 2023 with green new energy models exceeding 980,000 units, accounting for 35% of the total and an 51% YoY increase.
  • Geely added three Zero Carbon facilities to its production network
  • Geely Holding focused on improved its Supplier Code of Conduct in 2023 to encourage greater sustainability among suppliers and increase traceability of key raw materials through Geely’s independently developed blockchain platform.

 

Hangzhou. Geely Holding Group, China’s largest privately held automotive group, published the Group’s 2023 Sustainability Report highlighting progress towards its “Three Zeros” sustainability vision focused on “zero-carbon transformation, zero ecological burden, and zero vehicular casualties.”

Eric Li, Chairman of Geely Holding Group in his address on ESG stated

“Geely Holding is resolute in championing green development, leading the charge in capping carbon emissions, and achieving carbon neutrality. With a clear goal of reaching full-chain carbon neutrality by 2045, we are shifting towards a nature-positive business model and strategically driving the development of our industry, value, and ecological chain towards a green and low-carbon future.”

Previously in 2022, the Group published its ESG strategy to comprehensively strive for sustainable development, and work towards the Group’s goal of reaching operational carbon neutrality by 2030 and full value chain carbon neutrality by 2045.

New energy vehicles and the sustainable production of vehicles have been a key factor in accelerating the Group’s progress towards operational carbon neutrality and full value chain carbon neutrality. In 2023, the Group saw its aggregate sales reach 2.79 million units with over 980,000 units coming from plug-in hybrid and battery electric vehicles, accounting for 35% of its annual total, an increase of over 51% over the previous year. Integrating sustainability into the full lifecycle of its vehicles, the Group has also elevated the importance of new materials, new sustainability mobility technologies, and improving material recyclability in its R&D of vehicles.

Green Value Chain

By the end of 2023, Geely Holding saw 17 of its vehicle production plants being recognized as “Green Plants” and 3 plants recognized as “Zero-Carbon Plants.” The Group was also instrumental in the industrialization and application of green methanol technology through the construction of a low-carbon green methanol production plants with an annual output of over 100,000 tons with captured industrial carbon emissions. The successful operation of Geely’s green methanol plant has led to the establishment of a regional closed-loop circular green methanol ecology helping reducing carbon emissions by more than 160,000 tons annually.

As part of the Group’s efforts in accelerating its zero-carbon transformation, Geely Holding continued to improve its sustainable operations by establishing an internal carbon management system and independently developing a digital carbon management platform, the “Geely Carbon Cloud”. In addition to utilizing the Geely Carbon Cloud internally, the Group has also invited 1,669 upstream and downstream value chain partners to utilize the technology to reduce supply chain emissions. Expanding the scope of sustainability from just carbon emissions, Geely has also created a key raw material traceability platform utilizing blockchain technology and updated its Supplier Code of Conduct to proactively encourage upstream and downstream partners to operate more sustainably.

Safety has always been paramount to Geely Holding and its understanding of social responsibility. Being a sustainable socially responsible automotive enterprise, Geely Holding believes in the necessity to create a safe and secure environment for everyone on the road which has led to inclusion of zero vehicular casualties in the Group’s sustainability vision. Among the Group’s latest released models, nearly all have obtained or are aiming to obtain five-star China C-NCAP ratings and EU E-NCAP ratings. Quality management have been key to achieving five-star safety ratings and by the end of 2023, over 40 Geely Holding subsidiaries have passed ISO 9001:2015 quality management system certification covering processes such as automotive product design and development, manufacturing, logistics, and parts design and development. In addition 15 production plants have also passed the IATF 16949 quality management system certification.

To date, Geely Holding has seen the pursuit of sustainable development not only have a positive impact on the Group and its subsidiaries but also contribute to the greater prosperity of people and society.