Magang (Group) Holding Co., Ltd. Sustainability Profile
Magang (Group) Holding Co., Ltd., commonly referred to as Magang, is a leading steel manufacturer headquartered in China. Established in 1958, the company has grown to become a significant player in the steel industry, with major operations across various regions in China. Specialising in the production of high-quality steel products, Magang offers a diverse range of services, including steel smelting, rolling, and processing. Their commitment to innovation and sustainability sets them apart, as they continually invest in advanced technologies to enhance product quality and reduce environmental impact. With a strong market position, Magang has achieved notable milestones, including recognition for its contributions to the steel sector and a robust export portfolio. The company remains dedicated to meeting the evolving needs of its customers while maintaining its reputation for excellence in the industry.
DitchCarbon Score
How does Magang (Group) Holding Co., Ltd.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Non-Metallic Mineral Mining industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Magang (Group) Holding Co., Ltd.'s score of 27 is higher than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Magang (Group) Holding Co., Ltd., headquartered in China, currently does not report specific carbon emissions data, as indicated by the absence of emissions figures in kg CO2e. Furthermore, there are no documented reduction targets or climate pledges available from the company. As a current subsidiary, Magang (Group) may inherit climate-related data and commitments from its parent organisation, but specific details regarding these cascaded emissions or targets are not provided. The lack of publicly available information on their carbon footprint and climate initiatives suggests that the company may still be in the early stages of developing a comprehensive climate strategy. In the context of the steel industry, where Magang operates, there is increasing pressure to adopt sustainable practices and reduce greenhouse gas emissions. The company may need to align with industry standards and frameworks, such as the Science Based Targets initiative (SBTi), to enhance its climate commitments in the future.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 9,768,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 402,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 3,436,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Magang (Group) Holding Co., Ltd.'s Industry?
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Magang (Group) Holding Co., Ltd.'s Scope 3 Categories Breakdown
Magang (Group) Holding Co., Ltd.'s Scope 3 emissions, which decreased by 19% last year and decreased by approximately 20% since 2020, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 20% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 68% of Scope 3 emissions.
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Magang (Group) Holding Co., Ltd.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Magang (Group) Holding Co., Ltd. has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
