Midea Group Awarded as 2022 Forbes China TOP 50 Sustainable Development Industrial Enterprises

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FOSHAN, China–(BUSINESS WIRE)–Feb. 15, 2023

Earlier this year, Forbes released its “2022 Forbes China Top 50 Sustainable Development Industrial Enterprises” list. Midea Group was included on the list for its outstanding performance in green manufacturing, carbon neutrality, sustainable development and ESG construction.

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Midea Group Awarded as 2022 Forbes China TOP 50 Sustainable Development Industrial Enterprises (Graphic: Business Wire)

The assessment focused on the specific indicators of five dimensions, i.e., “management system, technological innovation, comprehensive benefits, resource allocation, and demonstration & promotion”. The selected companies this year are all industrial enterprises that have been established for at least 10 years, and have an annual revenue of more than RMB 100 billion, along with a year-on-year increase in R&D investment of about 50%. They also demonstrate key advantages over their global counterparts and possess state-of-the-art technologies that are among the best in the world.

Over the course of 25 years, Midea has honed and perfected its sustainable development management system, which integrates the concept of sustainable development into virtually every step of production and operation, as part of its efforts to fulfill its commitment to creating shared value with stakeholders.

Midea Shunde Industrial Park utilizes distributed PV systems, energy storage equipment, high-efficiency HVAC equipment (including MDV8 multi-connected units), LINVOL digital intelligent elevators, energy recovery modules, and automated production lines to realize both a green office and low-cost carbon production. Its efforts have led to LEED & WELL certifications. Relying on its iBUILDING digital platform, Midea Shunde Industrial Park's carbon management system and power grid system are fully integrated, and carbon neutrality has been achieved in the office area as well.

The Midea Chongqing Factory currently leverages over 15 green and energy-saving technologies, 8 digital scene applications, 3 green certifications and consultations, and also boasts access to over 10 information systems. It has significantly increased the proportion of clean energy and green electricity by installing roof PV panels, photovoltaic curtain walls, and solar street lights. Midea Chongqing Factory has also obtained the PAS2060 carbon neutral certificate, becoming one of Midea's first zero-carbon pilot plants.

Guided by the most advanced carbon consulting, Midea Jingzhou Factory has made a zero-carbon pathway that includes four stages: planning & design, construction, operation, and transformation. It has also adopted key zero-carbon solutions to obtain both its green and zero-carbon certifications. Through its energy optimization and management, operation and maintenance costs will be reduced by 30%, and the plant's power consumption will be diminished by 5-20%. These are its carbon reduction efforts as such.