【2025 Industry Trends】Wanhua Chemical, Zhejiang Hengyi, BASF, Dow... make it onto the 2025 China ESG Impact List
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Recently, Fortune China officially released the \"2025 China ESG Impact List,\" with 11 domestic and international chemical companies including Wanhua Chemical, Zhejiang Hengyi, BASF, Covestro, and Dow Chemical making it onto the list. Nearly 300 Chinese companies and Chinese subsidiaries of multinational enterprises submitted applications for this year’s list, with 100 companies making it onto the list; these companies are active in various fields such as new energy, manufacturing, the internet, finance, and healthcare.
In the context of global sustainable development today, ESG (environmental, social, and governance) has become an important criterion for evaluating corporate development. ESG is not only related to a company’s social responsibilities, but it also has a direct impact on its long-term competitiveness and market value.
In 2024, Wanhua Chemical Group Co., Ltd.’s Yantai facility took the lead in launching a pilot project for the creation of \"waste-free groups\" in Shandong Province; 14 companies participated in this pilot program, and they successfully met the A-level standards for such waste-free groups. The concept of \"four-dimensional waste reduction\" was introduced, and a smart platform for solid waste management was developed, resulting in a 47,000-ton reduction in solid waste and 45,000 tons of waste being reused. The first large-scale material model in the chemical industry has been officially released, offering customers query services such as product consultation, grade recommendations, and technical support.
Zhejiang Hengyi Group Co., Ltd. produces environment-friendly products such as Yitai Kang, antibacterial polyesters, and bio-based polyesters, while also developing chemical recycling technologies for used polyesters. In 2024, overall energy consumption was reduced by approximately 9% through the upgrading of boilers ； Approximately 5.1 million tons of fresh water are saved throughout the year. In Brunei, which is investing in the establishment of factories, three specialized joint training programs have been launched, offering full scholarships to train local professionals in the chemical industry at various levels.
Hengshen Holding Group Co., Ltd. has independently developed a low-carbon product called EcoLactam®, and the yarns produced using this material reduce carbon emissions by 70% compared to conventional nylon products. The proprietary patented technology for the chemical regeneration of caprolactam, developed independently, enables the recycling of waste fiber products; once put into use, it will fill the technical gap in the field of chemical regeneration of post-consumer nylon waste in China.
Veolia (China) Environmental Services Co., Ltd. Provides services in the fields of water management, waste recycling and reuse, and energy management for cities and industries in China. Its subsidiary Veolia Huafei is a leading company in China’s recycled plastics industry, recovering 170,000 tons of plastic each year; the products produced from this material are widely used in industries such as textiles, food and beverage packaging, and the automotive sector. The joint venture established by Veolia and Yanshan Petrochemicals employs a comprehensive purification approach that combines \"up-to-standard discharge of industrial wastewater\" with a \"wetland-based natural ecological restoration system\" to transform the previously unused oxidation ponds into the Niukouyu Wetland Park.
Honeywell (China) Co., Ltd. – Honeywell now has a total of 7 green factories in China, and over 75% of the products manufactured by the company in this country are produced in these **-level or provincial-level green factories. The company is working together with partners to bring mature solutions for sustainable aviation fuel to reality. Among them, Honeywell assisted Zhejiang Jiaao Environmental Protection Technology Co., Ltd. in building a large-scale sustainable aviation fuel production facility in Lianyungang City; this facility is one of the largest in China to use the Ecofining™ process technology and is the first of its kind to go into operation.
Covestro (Shanghai) Investment Co., Ltd. In 2023, the company introduced polycarbonate products with a post-consumer physical recycling content of 90%, which reduces the carbon footprint by approximately 70% compared to traditional fossil-based materials, offering circular and low-carbon solutions for industries such as electronics and automotive. In 2024, over 30% of the electricity used at Covestro’s integrated facility in Shanghai came from renewable sources. The Covestro facilities in Guangzhou, Foshan, and Shenzhen have also achieved 100% coverage with green electricity supply. At the same time, the proportion of green electricity generated and consumed internally at the Shanghai facility is steadily increasing.
In addition to reducing its own carbon emissions, BASF (China) Co., Ltd. has been implementing a \"Supplier Carbon Dioxide Management\" program since 2022, inviting global suppliers, including those in the Greater China region, to participate. This program aims to enhance the transparency of carbon emissions associated with BASF’s purchased raw materials by sharing its product carbon footprint assessment methods and tools with suppliers. In 2024, a initiative was launched in China to form the \"Zero-Carbon Recyclable Paper Cups Pioneers Alliance,\" with the aim of promoting the recyclability of disposable paper cups.
Dow Chemical (China) Investment Co., Ltd. Dow is one of the top 20 companies in the world in terms of its purchases of renewable energy. In China, the factory in Guangzhou has installed 2,200 square meters of solar panels on the roof of its building, which helps to reduce greenhouse gas emissions by 200 tons per year. The Zhangjiang R&D center uses solar energy instead of electric water heaters, which helps to reduce greenhouse gas emissions by 120 tons per year. The “Shiwa Tao Yuan” public welfare project completed in Shanghai uses environmentally friendly and low-carbon material solutions to create healthy and comfortable public spaces for community residents. Participate in the “Beautiful China” teaching support program to help advance STEM education in rural areas of China.
Linde (China) Investment Co., Ltd.: Linde China continuously purchases and uses green, low-carbon electricity, which accounts for over 20% of the electricity used in its operations. In 2024, Linde completed an on-site renovation and upgrade project for Wanhua Chemical’s Yantai production facility, converting a set of air separation units with a capacity of 65,000 standard cubic meters per hour from steam-driven to electricity-driven operation; this is expected to result in a reduction of annual carbon dioxide emissions by 120,000 tons.