Daqo New Energy Issues Its 2024 Environmental, Social and Governance (ESG) Report
Rhea-AI Summary
Daqo New Energy (NYSE:DQ), a leading high-purity polysilicon manufacturer for the solar PV industry, has released its 2024 ESG Report. The report outlines the company's achievements in corporate governance, R&D, employee protection, and environmental sustainability.
The company has established a three-tiered ESG Development Strategy with specific objectives: Short-term (2023-2025) goals focus on increasing clean energy usage, reducing emissions, and optimizing production efficiency. The medium-term goal aims to achieve peak carbon emissions and 80% clean energy usage by 2030, while the long-term objective targets carbon neutrality by 2060.
Positive
- Comprehensive ESG strategy with clear short, medium, and long-term sustainability objectives
- Commitment to achieve 80% clean energy usage in production by 2030
- Long-term goal of carbon neutrality by 2060
Negative
- None.
News Market Reaction – DQ
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The 2024 ESG report highlights the Company's key achievements with respect to corporate governance, innovation and R&D, employee rights protection, environmental sustainability and emission reductions, as well as social responsibility. "Through sustained investment in R&D and technological innovation, Daqo New Energy Corp. is committed to building a better and more sustainable world for generations to come. At the same time, we foster a corporate culture that revolves around people, regulatory compliance, and unwavering integrity," said Mr. Xiang Xu, Chairman and Chief Executive Officer of the Company. "We will continue to innovate and drive the development of green and clean energy as we work toward our long-term sustainable development goals."
In the 2024 ESG report, Daqo New Energy disclosed its ESG Development Strategy, which defines its short-, medium-, and long-term sustainable objectives:
- Short-term objective (2023-2025): Continuously increase the proportion of clean energy used in production and reduce the intensity of waste emission; optimize energy consumption per unit of product, enhance product quality, and achieve a sustainable balance between optimal quality and minimal energy consumption; improve the recycling efficiency of raw and auxiliary materials to build a resource-efficient, environmentally friendly circular economy; leverage its core strengths, drive industry innovation, explore new business opportunities, and strive for a harmonious integration of product utility, corporate value, and socio-environmental impact.
- Medium-term objective: Achieve peak carbon emissions and use in excess of 80 percent clean energy in its production processes by 2030.
- Long-term objective: Achieve carbon neutrality by 2060.
To view the report in full, please visit the Company's investor relations website at: https://www.dqsolar.com/ESG
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 305,000 metric tons and is one of the world's lowest cost producers of high-purity polysilicon.
For more information, please visit http://www.dqsolar.com/ .
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SOURCE Daqo New Energy Corp.