Gree Tells Zero-Carbon Story at COP28, Actively Responding to China's Initiative

Consumer Discretionary Author: Muriel Meng Editor: Mingmin Zhang Dec 04, 2023 04:01 PM (GMT+8)

Chinese enterprises actively participate in the COP28, demonstrating achievements in low-carbon, sustainable development.

Gree Electric Appliance

The 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) was officially held in Dubai, UAE from November 30th to December 12th. During the conference, the Chinese delegation organized a series of activities in the "China Corner" at Dubai Expo City. Dong Mingzhu, Chairman and President of Gree Electric Appliances (000651: SZ), attended the conference as a representative of Guangdong enterprises and delivered a keynote speech on "Science and Technology Innovation for Zero-Carbon Era" on December 3, taking Gree Electric Appliances' green development path as an example to show the world the achievements of China's green and low-carbon development in the manufacturing industry. 

Gree Electric put forward the strategy of "making the sky bluer and the earth greener" in 2013 and followed the principles of green and energy-saving innovation and research and development in its development process for more than ten years. Gree Electric has 40 "international leading" technologies, of which 38 are related to green energy saving, and its products are exported to more than 190 countries and regions around the world, with a total of more than 110,000 patents applied for. After ten years of technology research and development, Gree Electric has produced the innovative photovoltaic and air-conditioning products for cross-border integration, the world's first "zero carbon source" air-conditioning system and won the top prize in the 2021 Global Refrigeration Innovation Grand Prix. According to the organizing committee's calculation, this technology can reduce carbon emissions from air conditioners by 85.7%. After the launch of the product, consumers in the Middle East purchased nearly 10,000 sets of "photovoltaic air conditioners" equipped with this technology, which can reduce carbon emissions by 110,000 tons per year.

In terms of recycling, through independent research and development of industrial Internet software, control systems, CNC machine tools, industrial robots, Gree Electric makes efforts to achieve "zero carbon" emissions. Gree Electric's self-constructed recycling system has accumulated more than 47 million units of waste electronic products, reducing carbon emissions by about 2.25 million tons. 

As an important participant, contributor and leader in the global climate governance process, China promotes the development of green and low-carbon industries and takes multiple measures to construct the sustainable development of the global economy. As a member of the Chinese manufacturing enterprises, Gree Electric also makes contributions to economic development and environmental protection.

As of press time, Gree Electric closed at CNY 32.85 apiece, with a market capitalization of CNY 185 billion.