As time passes, it engraves glorious dreams;

With green as our ink, we depict a magnificent scroll.

In the face of escalating global climate change and resource constraints, Environmental, Social, and Governance (ESG) has emerged as a crucial metric for assessing corporate sustainability. From international to domestic spheres, the ESG concept is permeating various sectors at an unprecedented pace, guiding companies towards a greener, fairer, and more transparent transformation.

"For a better life" has always been Tongwei's corporate vision. As a leading player in the global PV sector, Tongwei has long actively engaged in and responded to global ESG governance and adhered to a sustainable development path. The company advocates for a sustainable development philosophy of "joint contribution, collaborative governance and shared benefits", and has collaborated with upstream and downstream partners to establish a green ecological industrial chain. At the same time, Tongwei has fully integrated the UN Sustainable Development Goals (SDGs) into its ESG strategy, and has taken concrete actions to create a sustainable and beautiful new life for society.

2024 Tongwei Annual Keyword③

ESG

What does ESG stand for in China?

The core values of economic prosperity, environmental sustainability, and social equity advocated by ESG align closely with China's carbon peaking and carbon neutrality goals and ecological civilization requirements. It can be said that China is a significant practitioner of the ESG concept and a promoter of sustainable development.

As Chinese enterprises accelerate their global expansion, ESG has become a "mandatory question". As one of the drivers of China's energy transition, Tongwei has actively engaged in and responded to global ESG governance in recent years, steadfastly pursuing a sustainable development path.

In this issue, we will focus on ESG and share how Tongwei is exploring a new Chinese-style ESG paradigm to empower global sustainable development.

Implementing ESG Principles

Supporting Long-Term Value Growth for the Enterprise

In recent years, there has been a growing global focus on issues such as climate change, environmental pollution, and social inequality, leading to a rapid rise in the importance of ESG principles worldwide.

In 2004, the UN Global Compact formally introduced the concept of ESG in its report Who Cares Wins, establishing three critical dimensions for companies aspiring to be leaders in sustainable development: Environment, Social, and Governance. Over the past two decades, ESG has evolved from a mere call to action into a universally valued social practice. Today, ESG serves as a "global language" for assessing corporate sustainability and social responsibility.

As the first company in the global PV sector to be listed in the Fortune Global 500, Tongwei has consistently responded to and engaged in global ESG governance, while adhering to a sustainable development path. The company has fully integrated the UN Sustainable Development Goals (SDGs) into its ESG strategy, and has taken concrete actions to create a sustainable and beautiful new life for society.

During the 7th China International PV and Energy Storage Industry Conference held in November 2024, Tongwei officially launched the "Together to Win—Global Sustainable Partnership Co-Building Program". In this initiative, Tongwei embodies an open, inclusive, and collaborative approach to fostering close communication with industry partners, sharing valuable experiences, and jointly addressing industry challenges, thereby contributing further to the sustainable development of the PV sector.

△ Together to Win—Global Sustainable Partnership Co-Building Program was officially released

Making Persistent Efforts Before Achieving Success

Exploring a New ESG Paradigm with Tongwei Characteristics

After years of promotion and application, China has recognized ESG as a vital pathway for driving high-quality economic development and achieving the carbon peaking and carbon neutrality goals. In 2024, with the continuous introduction of ESG-related policies, innovative local practices, and impressive corporate information disclosures, the construction of China's ESG ecosystem has reached a milestone in development.

△ The green garden factory of Yongxiang Co., Ltd. under the brand of Tongwei

As a leading enterprise in the global PV sector, Tongwei has actively optimized its energy structure and is committed to establishing a green, low-carbon, and circular production system and increasing the proportion of clean energy usage. The company has conducted GHG inventories and third-party verification for three consecutive years, and in 2023, it undertook a comprehensive assessment of "Scope III" for the first time, completing carbon footprint evaluations and life cycle assessments for 65 products, fully integrating carbon management awareness throughout the entire supply chain. By the end of 2023, the consumption of clean energy electricity accounted for 76.95% of the total electricity consumption, significantly leading the industry.

△ Tongwei's "Integration of Fishery and PV" ecological development practice

Tongwei has always aligned with the national strategy for green development by combining PV power generation with modern aquaculture, pioneering the "Integration of Fishery and PV" development model, with PV power generation above and aquaculture below. This model helps maintain local ecological balance while minimizing pollutant emissions and environmental contamination. By the end of December 2024, Tongwei has developed and constructed 55 PV power stations primarily based on the "Integration of Fishery and PV" model across more than 20 provinces, including Jiangsu, Shandong, and Anhui, with a cumulative installed capacity of approximately 4.60 GW.

△ Tongwei's "Integration of Fishery and PV" base achieved bountiful fisheries

The innovative "Integration of Fishery and PV" model not only continuously produces clean electricity, but also significantly enhances the economic returns per unit of land. In 2023, its total electricity settlement reached 4.432 billion kilowatt-hours, resulting in a reduction of 3.3 million tons of carbon emissions, providing Tongwei's solution and contributing Tongwei's strength to sustainable development, clean energy transition, and industrial integration.

As a Green Pioneer

Tongwei Brought Outstanding Achievements of ESG

On December 18, 2024, as a listed company on the 2024 Fortune China ESG Impact List, Tongwei was invited to attend the 2024 Fortune ESG Summit, where it received a certificate on-site. Additionally, Tongwei was recognized as one of the “20 Cases Examples of Private Sector's Sustainable Development in China for 20 Years” by the UN Global Compact.

Tongwei was recognized as one of the “20 Cases Examples of Private Sector's Sustainable Development in China for 20 Years” by the UN Global Compact.

With its outstanding performance in the ESG domain, Tongwei has received unanimous recognition from multiple external parties. In 2024, Tongwei joined the RE100 initiative as a gold member and participated in the United Nations Climate Change Conference for the fifth consecutive time, actively contributing the "Tongwei Solution" to global sustainable development. Through effective ESG practices, Tongwei has accumulated over 70 domestic and international awards in the sustainability sector. It has been included in the Fortune China ESG Impact List and recognized among China’s Top 100 ESG Pioneer Listed Companies for two consecutive years. Moreover, it achieved the highest score in the domestic semiconductor and semiconductor equipment industry, successfully earning a spot in S&P Global's Sustainability Yearbook 2024 (China Edition).

△ Tongwei successfully earned a spot in S&P Global's Sustainability Yearbook 2024 (China Edition).

In March 2024, the "2023 China's Top Ten Classic Cases of Water Conservation" was officially released, with the case study "Sichuan Yongxiang New Energy: Enhancing Water Conservation Processes and Strengthening Water Conservation Measures" being selected, marking it as the only case from Sichuan Province. This sets a benchmark for promoting industrial water conservation and emission reductions, strongly demonstrating Tongwei's commitment to driving green development through a green industry.

△ Egrets are soaring over the factory area of Yongxiang New Energy

In November 2024, TW Solar (Hefei) Co., Ltd. achieved a score of 78 in the EcoVadis 2024 Rating for sustainability certification, elevating its corporate social responsibility medal level to gold. It became the first company in the global PV sector to receive the EcoVadis Gold Medal for Corporate Social Responsibility.

△ TW Solar Hefei Base

On December 30, 2024, the Ministry of Industry and Information Technology released the 2024 Announcement List of Green Manufacturing, with TW Solar (Jintang) Co., Ltd. included in the "Announcement List of Green Factory". This follows the national-level green manufacturing official certifications previously awarded to TW Solar's Chengdu Company and Meishan Company.

△ The PV roof in the pre-production area of Phase I of Yunnan Tongwei

△ The 71MW Rooftop PV Project of TW Solar Yancheng Base

In advancing the high-quality development of distributed PV in China, Tongwei continues to inject green momentums. In November 2024, the 3.85MW PV Power Generation Project in Yunnan Tongwei, the largest rooftop distributed PV project in the Baoshan area, generated over 1.7 million kilowatt-hours, achieving remarkable results in the shortest cycle with the best effects. As of December 2, 2024, the 71MW Rooftop PV Project at TW Solar Yancheng Base surpassed 10 million kilowatt-hours in power generation, with an estimated annual output of approximately 72 million kilowatt-hours, equivalent to a reduction of 43,200 tons of carbon dioxide emissions. By the end of December 2024, Tongwei has established 21 production bases that are either completed, under construction, or planned for rooftop distributed PV power generation projects, contributing to the establishment of a clean, low-carbon, safe, and efficient energy system.

ESG can serve as the essential "vitamin" for industry growth,

providing more comprehensive nutrition

to propel the industry towards

a healthier and more sustainable development path.

In the future,

Tongwei will continue to uphold

the principle of "pursuing excellence and contributing to society,"

consistently delving deeper into innovation and environmental protection,

continuously iterating and upgrading green and low-carbon technologies,

promoting industrial integration models,

and contributing more to global sustainable development.