Xiaomi Corporation Releases its Inaugural White Paper on Climate Action
DUBAI, UAE, Dec. 7, 2023 /PRNewswire/ -- Xiaomi Corporation ("Xiaomi" or the "Group"; stock code:1810) today unveiled its first White Paper on Climate Action detailing the many ways it is working to mitigate climate change. Alain Lam Sai-wai, Vice President and Chief Financial Officer of Xiaomi, released the White Paper here during the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), the year's most prominent climate summit.
"Xiaomi has always been driven by technological innovation, and our approach to the zero-carbon transition is no different. Our relentless pursuit of technological innovation is at the heart of the company's green transformation." Alain Lam said in his speech, "Through technological innovation, we continue to enhance our product efficiency and advance sustainability throughout the product lifecycle, thereby contributing to the realization of United Nations' Sustainable Development Goals (UN SDGs) and shouldering our responsibility for the planet earth."
The document details Xiaomi's Zero-carbon Philosophy, including its use of AI-empowered AIoT (Artificial Internet of Things) to build green products and sustainable supply chains. The company's goal is to facilitate a zero-carbon transition for industries and society at large.
Xiaomi's path to net-zero emissions is in line with ISO Net Zero Guidelines, a widely adopted tool for policymakers striving for net-zero greenhouse gas emissions. The company is committed to achieving carbon neutrality by 2040 in its existing businesses.*
Xiaomi is decarbonizing its operations by improving energy efficiency and implementing smart manufacturing practices. Xiaomi also encourages its partners to establish climate targets that align with its commitment to carbon neutrality. This involves transitioning to renewable energy sources and enhancing material utilization, recycling, and reuse rates. Xiaomi pledges transparency, accountability, and regular audits to ensure its decarbonization progress.
Xiaomi's Zero-carbon Philosophy has led it to make its products and services more efficient, economical, and environmentally clean. It also employs artificial intelligence technology in manufacturing to increase efficiency and innovation. AI allows Xiaomi to offer consumers more sustainable lifestyle choices. For instance, Xiaomi is helping to reduce household greenhouse gas emissions and energy consumption by using smart-home solutions.
Xiaomi's AIoT platform allows users to track electricity usage more easily and manage energy more efficiently. Xiaomi also offers wearables and mobility devices to give users a high-quality, low-carbon experience.
The company's newly announced "Human x Car x Home" smart ecosystem integrates more than 200 product categories, connects 820 million devices, and covers more than 95% of user scenarios, to deliver peak performance of ecosystem devices through a single, integrated system. Xiaomi HyperOS is set to minimize system redundancy, enhance energy efficiency, reduce electronic waste, and advance global goals of sustainable consumption.
In addition, Xiaomi is stepping up efforts to advance a circular business model. The company has called for a series of global sustainability initiatives, including setting net-zero emission targets, joining the GE100% initiative, expanding e-waste recycling programs, and increasing the use of renewable energy. Between 2022 and 2026, Xiaomi plans to recycle 38,000 tons of e-waste and invest in a wide range of renewable energy projects.
Xiaomi is committed to making amazing products at honest prices and employing sustainable technology that is green, inclusive, and affordable.
2023 Xiaomi Corporation White Paper on Climate Action is available here.
*Note: Existing businesses refer to the business scopes noted in Xiaomi Corporation's latest Earnings Report, including Smartphones, IoT and Lifestyle products, Internet Services, and others.
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018. Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.
Embracing our vision of "Make friends with users and be the coolest company in the users' hearts", Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.
Xiaomi is one of the world's leading smartphone companies. In September 2023, MAU of MIUI reached approximately 623 million globally. The company has also established the world's leading consumer AIoT (AI+IoT) platform, reached approximately 699 million smart devices connected to its platform (excluding smartphones, laptops and tablets) as of September 30, 2023. Xiaomi products are present in more than 100 countries and regions around the world. In August 2023, Xiaomi was included in the Fortune Global 500 list for the fifth year in a row, ranking 360th.
Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.
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