Forbes China has added Xiaomi to its “China ESG 50” list for 2022. Forbes China has released its “China ESG 50” report, which ranks companies adhering to environmental, social and governance best practices ( ESG).

Wang Xiang, partner and president of Xiaomi Group, said: “We are deeply honored that our ESG applications are appreciated in the industry. As one of the world’s top three smartphone companies and the leading AIoT platform for consumers, we are committed to our increase scale and efficiency to create a sustainable economy for our users, employees, business partners and the world.As an exemplary leading company, we continue to integrate ESG practices into our products, services, governance structure and operations.”

The criteria for inclusion in Forbes China’s ESG 50 list are based on the United Nations (UN) Sustainable Development Goals (SDG). The companies on the list are also on the Forbes Global 2000 list.

Xiaomi considers ESG management a foundation of its business strategies and has been publishing an ESG report every year since 2018. The company, which is also a signatory to the United Nations Global Compact, has continued to implement the 10 principles related to corporate social responsibility since 2020. Xiaomi’s achievements in ESG were awarded the “Award of Excellence in ESG” by CHKLC Chamber of Hong Kong Listed Companies in 2021.

By taking advantage of technological advances and optimizing production processes, Xiaomi has reduced resource consumption and minimized the environmental impact of its products. As can be seen from the chart below, the environmental impacts throughout the life cycle of Xiaomi products have been minimized.

Xiaomi has reduced its environmental impact with several applications. For example, Xiaomi 12 series smartphones use a back cover made of BASF Haptex®, a low-carbon, solvent-free polyurethane (PU) material that consumes 20 percent less energy, emits 20 percent less greenhouse gases and uses 15 percent less water compared to synthetic materials. . Lightweight pallets used to ship smartphones abroad save up to 460 tons of jet fuel or 1,423 tons of CO2e per year. The company also transformed more than 650,000 smartphones in 2021, 80 to 90 percent of which were resold.

Xiaomi has created a comprehensive management structure to protect data security and user privacy in terms of the social element of ESG. The company established the Security and Privacy Committee in 2014. In 2018, the European Union adopted the General Data Protection Regulation (GDPR) as part of its compliance assessment. It continues to submit data protection and user privacy practices to external experts for review. The company released its first transparency report last year, making it the first Android smartphone brand to do so. Xiaomi has further strengthened its data security capabilities by achieving NIST CSF (National Institute of Standards and Technology, Cybersecurity Framework) registration certification this year.

Source: (BYZHA) – Beyaz News Agency