On October 14, Midea Group unveiled its Green Strategy. With the mission of "Building a Green Global Supply Chain, providing Green Products and Services, and jointly building a Green Planet", and the target of "Facilitating the 3060 Strategy: peaking Carbon Emission by 2030 and achieving Carbon Neutrality by 2060", the Green Strategy aims to build whole-process Green Industrial Chain with a focus on six pillars:
- Green Design
- Green Procurement
- Green Manufacturing
- Green Logistics
- Green Recycling
- Green Service,
which is well-aligned with China and global’s "Carbon Peak and Carbon Neutrality" goals.
Moving fast towards carbon neutrality in four stages
Over the years, Midea Group has prioritized environmental protection and the pursuit of green development. It aims to enable green transformation of products through technological innovations and realize energy conservation and emission reduction of manufacturing process by virtue of equipment upgrading and lean production. According to Michael Li, Vice President of Midea Group and Leader of Green Strategy Implementation Team, "Green Strategy" represents an integral component of Midea Group’s sustainability, and also a prominent initiative of Midea Group to protect the shared home of humanity. Midea Group will achieve the goal of "making life better" and promote the philosophy of "creating better life for humanity", through actively reducing carbon emission in the whole process of carbon footprint.
The Green Strategy aims to peak company-wide carbon emission by 2030 and achieve carbon neutrality by 2060. In this process, Midea Group will “take inventory, set standards, review implementation progress, enhance assessment and ensure achievement of goals”, and divide the Green Strategy Implementation Plan into four stages:
Stage I: Midea Group will steadily peak carbon emission by 2030 through advanced deployment of green energy
Stage II: Midea Group will increase the share of green power and diminish GHG emission with an aim to realize gradual reduction of carbon emission by 2040
Stage III: Midea Group will significantly reduce carbon emission by 2050 on the basis of power neutrality
Stage IV: forces will be pooled to achieve carbon neutrality by 2060.
During the 9th meeting of the Central Committee for Financial and Economic Affairs of China in April, it mentioned that efforts shall be made to build clean, low-carbon, safe and efficient energy system, control total amount of fossil energy, energetically improve utilization efficiency, implement renewable energy substitution action, deepen power system reform and build new power system dominated by new energy. Michael Li said, with energy structure adjustment and under the premise of ensuring corporate development increment, Midea Group responds to the national call by pursuing green operation. Midea expects to peak total company-wide direct and indirect carbon emission around 2028 and secure a group-wide green power share of 30% by 2030.