DUBAI, United Arab Emirates, Dec. 6, 2023 /PRNewswire/ -- Wei Xue, Vice President of TCL Technology and Chairman of the TCL Charity Foundation, represented the company as a keynote speaker at a side event on 4 December, focused on the role of sustainable development in addressing climate change, during the 28th United Nations Climate Change Conference of the Parties (COP28), currently taking place in Dubai, United Arab Emirates until 12 December.
"After the COVID-19 pandemic, our global economy has been experiencing a slow recovery far from what we expected. We are continually confronted with the setbacks brought on by climate change," said Wei. "In this overwhelmingly challenging era, we should never act on a whim. All of mankind needs to collectively combat climate change step by step in a rational, consistent, and resourceful manner."
Three key principles of TCL's climate response strategy
Held in the Blue Zone at COP28, the event explored green financial solutions in tackling climate change and facilitating sustainable development. Joining representatives from fellow global companies, Wei outlined three guiding principles of TCL's long-term and holistic strategy on climate action and green development during her speech.
"The first principle is to uphold a comprehensive and customized response strategy," shared Wei. Over the years, TCL has been elevating its ESG management system, adding non-financial indicators to strategically cover relevant departments of the company and the industrial chain, alongside clearly set and frequently reviewed goals and plans to ensure carbon neutrality in its operations by 2050. Last year, TCL also launched the global TCLGreen campaign to support efforts to create a greener planet for all.
Secondly, TCL is proactive in establishing ecological partnerships with its various stakeholders. "We are not only strengthening our own actions, but also urging research institutions, non-governmental organizations, and individuals, particularly students and youth, to collectively take on responsibilities," added Wei. On this front, TCL inaugurated the "TCL Solar Low-Carbon Campus" through social value investing in September this year, facilitating green power generation in a high school in Inner Mongolia while introducing renewable energy education among students.
Thirdly, Wei encouraged cooperation and value co-creation in driving sustainable industry development, as stakeholders pool resources and leverage individual strengths, expertise and networks. Through continuous innovation, TCL has assisted over 50 factories in 12 industries to date in achieving intelligent management of energy systems, allowing them to reduce approximately 150,000 tons of carbon altogether.
Reflections from TCL's journey of green transformation
Indeed, TCL has been on a steady journey of green transformation. Since its inception in 1981, the company has developed into a diversified, global conglomerate spanning a wide range of business sectors, including display technology, new materials, renewable energy, and intelligent terminals. With green financing, TCL has built 13 green factories worldwide. It also successfully issued its first green bond at over USD 209 million, with the funds raised entirely dedicated to the construction of more green factories under TCL's subsidiaries, which are poised to reduce 85,200 tons of carbon dioxide emission annually.
On this process of pursuing sustainable development, Wei imparted her wisdom to the audience with five lessons learned. "The first is to understand diverse economic and social contexts, to respect each other's needs beyond climate change factors and accommodate the pace of each country," said Wei, who stressed the nexus of adhering to the rules and regulations of each country or region and TCL's sustainable operation.
In addition, Wei emphasized that – in fighting climate change – goals must be pragmatic and approached with strategic patience. Response strategies and efforts require a careful balance of pros and cons, guided by behavioral insights, as well as robust data analyses to support both the company and its stakeholders. Last but not least, the younger generation holds the key to effective change, and it is important that today's youth is being cultivated and mobilized to become future climate change leaders.
"Climate change is a global challenge, and each and every one of us plays a pivotal role in protecting our Earth," said Wei as she wrapped up her speech. Rooted in its mission to "Build a sustainable and connected future with advanced technology", TCL remains committed to integrating sustainable concepts into strategic development and joining hands with global partners to slow down the Earth's warming and pave the way towards a greener future.
TCL is a leading global intelligent technology company with a mission to "Inspire Greatness". As a leading technology company, TCL provides diversified consumer electronics covering TVs, smartphones, audio and smart home products, as well as display technology and clean energy solutions. TCL is committed to bringing smart technology experiences and healthy lifestyles to consumers around the world.
