Hisense Group Announces Double Carbon Targets: Operational Carbon Peak by 2026, Carbon Neutrality by 2050

Hisense Group Announces Double Carbon Targets: Operational Carbon Peak by 2026, Carbon Neutrality by 2050On October 16th, the 2024 ESG Global Leaders Summit was held in Shanghai, where Hisense Group Chairman Jia Shaoqian publicly announced the company's double carbon targets for the first time. Based on Hisense's practical experience, technological accumulation, and future plans in low-carbon fields, the company aims to "achieve operational carbon peak no later than 2026 and operational carbon neutrality no later than 2050

Hisense Group Announces Double Carbon Targets: Operational Carbon Peak by 2026, Carbon Neutrality by 2050

On October 16th, the 2024 ESG Global Leaders Summit was held in Shanghai, where Hisense Group Chairman Jia Shaoqian publicly announced the company's double carbon targets for the first time. Based on Hisense's practical experience, technological accumulation, and future plans in low-carbon fields, the company aims to "achieve operational carbon peak no later than 2026 and operational carbon neutrality no later than 2050."

Jia Shaoqian emphasized that Hisense deeply understands its responsibility and commitment as a large enterprise while practicing ESG. In recent years, Hisense has been committed to implementing ESG with a long-term vision, making it a "comprehensive layout" and "global action" for the entire group. At the beginning of this year, Hisense established an ESG Committee under the Group Board of Directors to oversee the implementation of ESG work. Moreover, building upon the annual ESG reports released by its listed subsidiaries, Hisense has published its annual ESG report for two consecutive years, openly disclosing information and future commitments regarding shared environmental responsibility, creating an inclusive workplace, compliant and stable operations, embracing green technology, and optimizing product experience.

At the summit, Jia Shaoqian formally announced Hisense Group's commitment to double carbon targets, integrating low-carbon principles into corporate governance and operations to make green development a key pillar for "building a century-old Hisense." Subsequently, Hisense will also release its first "Carbon Neutrality White Paper," outlining the "HiGREEN" carbon neutrality action blueprint and its implementation across three directions: low-carbon operations, low-carbon industrial chain, and low-carbon products and services.

Hisense will focus on two main themes: "green" and "intelligent," achieving operational decarbonization through a tiered approach of "extreme energy efficiency improvement - clean energy transformation - negative carbon technology exploration." Hisense has already built one global "lighthouse factory," three zero-carbon factories, and 14 national-level green factories. Since 2020, Hisense Group's comprehensive energy consumption per unit of output has cumulatively decreased by 17.3%. Using 2023 as the baseline, Hisense Group's carbon emission intensity will decline by 40% by 2030.

Simultaneously, Hisense will leverage its advantages to drive carbon reduction with its upstream and downstream partners. By 2025, over 2400 of Hisense's suppliers, representing approximately 50%, will be included in carbon emission management, and 40% of suppliers will be encouraged to set carbon reduction targets. Hisense will also continuously promote green product iteration and optimization.

Jia Shaoqian stated that to better implement the ESG development concept, Hisense will prioritize new power grids and new energy as significant long-term strategies. Hisense's Network Energy Company is committed to providing a full-chain digital energy storage solution, covering "products - systems - solutions - platforms," encompassing all energy storage scenarios, including the source side, grid side, industrial and commercial side, and household side. At the end of August, Hisense successfully acquired and took over the listed company Colin Electric in Shijiazhuang, Hebei Province, encompassing three business segments: smart electrics, new energy, and internet plus, providing customers with full-life cycle services for energy power systems. Hisense Network Energy, along with Colin Electric, will constitute Hisense's energy sector, creating unique competitive advantages and development opportunities in the global new energy market in areas such as clean energy, smart grids, intelligent transportation, and smart cities.

"Looking at the world, first-class companies inevitably demonstrate first-class ESG performance and corporate governance," Jia Shaoqian emphasized. Following the appointment of the new board of directors of Hisense Group this year, a consensus was reached, and a clear requirement was set: Hisense, aiming to become a world-class enterprise and a world-class brand, must benchmark and learn from the governance experience of leading global companies, utilize ESG development as a lever and an opportunity to promote board diversity, continuously optimize and enhance corporate governance, establish a more scientific and complete modern enterprise system, and accelerate towards the goal of becoming a world-class enterprise.

In the future, guided by the goal of "achieving carbon neutrality in its own operations no later than 2050," Hisense will steadfastly adhere to long-termism and the principles of "technology for good" and "business for good," assuming greater responsibility and commitment, pursuing higher goals and aspirations, to create a better future for billions of families worldwide.

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