Lenovo Announces FY 2022/23 ESG Report: 3X Generation of Solar Energy and 16M+ lives benefitted through philanthropy

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Business Wire India

  • Lenovo has increased its investment in renewable energy, tripling its solar energy generation since FY 2018/19.
  • Lenovo’s early adoption of science-based targets resulted in its inclusion in the first group of companies to have both its near-term 2030 targets and 2050 net-zero targets validated by the Science Based Targets initiative.
  • Lenovo’s global philanthropy efforts have grown again this year, resulting in more than US$30M in charitable impact for communities around the world (investments of funds, product, and estimate of volunteer time) and impacting more than 16 million lives.
  • Lenovo’s global supply chain increased its ranking this year, reaching #8 in Gartner’s Top 25 Global Supply Chains.

Today, Lenovo (HKSE: 992) (ADR: LNVGY) published its 17th annual Environmental, Social and Governance (ESG) Report, further demonstrating its commitment to being a responsible corporation around the world with a focus on building a sustainable planet, promoting inclusion, and closing the digital divide. In the new report, the global technology powerhouse reported its increased investment in solar energy, tripling generation since FY 2018/19 driven by solar energy installations at factories and offices around the world increased its philanthropic investment, measuring nearly US$30M in philanthropic investments resulting in more than 16 million people impacted through global programs and partnerships.

 

“As a global company, we have seen the impact of climate change on our stakeholders and feel the urgency to combat it together,” said Yuanqing Yang, Lenovo’s CEO and Chairman. “In the last fiscal year, we were proud to affirm our commitment to reaching net-zero emissions by 2050 with net-zero targets validated by the Science Based Targets initiative (SBTi) and their first-of-its-kind Net-Zero Standard.”

 

Lenovo’s leadership in sustainability was bolstered this year when it became one of the first group of companies to have net-zero targets validated by the Science Based Targets initiative. The company is on-track to meet its near-term emissions reduction targets for 2030, including reducing Scope 1 and 2 greenhouse gas emissions by 50% and Scope 3 emissions intensities by 66.5% from purchased goods and services, 35% from sold products, and 25% from upstream transportation and distribution. Lenovo is collaborating with suppliers to reduce its scope 3 (value chain) emissions, traditionally the largest category of emissions and the most difficult to track in a complex, global supply chain.

 

Lenovo is building on its tradition of holistic innovations that increase the sustainability of its products and services. In FY 2022/23 Lenovo continued its transition to a circular economy by continually increasing the number of products that integrate ‘closed loop’ recycled content that comes from end-of-life IT and electronics. Lenovo reported nearly 300 products (298) that included the recycled plastic content from end-of-life IT and electronics. As an example, the ThinkPad X1 laptops launched at CES 2023 include up to 97% Post Consumer Content (PCC) plastic in the battery enclosure and up to 95% PCC plastic in the speaker enclosures and AC adapter.

 

Lenovo’s workforce is industry-leading1 in gender inclusion, with 37% women in its overall population and 28% women in technical roles. Lenovo’s efforts to advance women have been recognized through inclusion in the Bloomberg Gender-Equality Index for the fourth time as the company pursues its goal to reach 27% women executive representation by 2025 (current 21%). Lenovo’s values of diversity and inclusion are practiced through 17 employee-led resource groups in offices and regions around the world. The groups are customized for the unique needs across a location’s diversity segments, with specific groups for today’s workforce, from early career talents (Rising Employees At Lenovo) to groups supporting parents in the workplace and career development for people from underrepresented backgrounds. Lenovo’s workforce inclusion initiatives have been recognized by Forbes, the Disability Inclusion Index, and the Human Rights Campaign’s Corporate Equality Index.

 

In FY 2022/23, Lenovo’s global philanthropy efforts driven by the Lenovo Foundation grew year-on-year, resulting in more than US$30M in charitable impact for communities around the world (investments of funds, product, and estimate of volunteer time). The Foundation’s focus has been on empowering underrepresented populations by helping them access technology and STEM education through strategic partnerships, programs like the TransforMe Skilling Grant Round, and employee volunteerism like the Love on Month of Service.

 

While Lenovo continues its journey to net-zero and works toward more inclusive workplaces and communities, the company is focused on governing its global operations with the highest standards of ethics and compliance. Lenovo’s global supply chain increased its ranking this year, reaching #8 in Gartner’s Top 25 Global Supply Chains. Furthermore, Lenovo’s ESG programs have been recognized by CDP (Carbon Disclosure Project), MSCI (Morgan Stanley Capital International), and the Hong Kong Institute of Certified Public Accountants.

 

This is Lenovo’s 17th annual ESG Report, covering the Fiscal Year 2022/23 (April 1, 2022 through March 31, 2023).

 

To find out more about Lenovo’s ESG global and local impacts, explore the interactive map here

 

1 As determined by internal competitive benchmarking within the technology industry.

 

About Lenovo:

 

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$62 billion revenue global technology powerhouse, ranked #171 in the Fortune Global 500, employing 77,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s largest PC company by further expanding into growth areas that fuel the advancement of ‘New IT’ technologies (client, edge, cloud, network, and intelligence) including server, storage, mobile, software, solutions, and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and smarter future for everyone, everywhere. To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.