In 2024, Midea Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Midea Group has also provided a category-level breakdown for 3 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 681,036a | 1,017,606a | 129,400a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 1,522,436a | 1,280,705a | 1,376,477a | |
Total Scope 3 | 196,247,729a | 4,960,000a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 12.1497a | 19.3523a | 2.6063a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Midea Group amounted to 2,203,472 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Midea Group decreased by 4.13%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Midea Group were 681,036 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Midea Group's Scope 1 emissions have increased by 398.12%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Midea Group's Scope 1 emissions decreased by 33.07%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Midea Group reported Scope 2 greenhouse gas (GHG) emissions of 1,522,436 tCO₂e without specifying the calculation method.a
Since 2021, Midea Group's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have remained relatively stable, indicating that Midea Group's emissions have plateaued with no significant change in its energy consumption footprint.ab
Compared to the previous year (2023), Midea Group's Scope 2 emissions (Unspecified Calculation Method) rose by 18.87% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energya
In 2024, Midea Group reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Midea Group reported 196,247,729 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Midea Group includes a breakdown across 3 of the 15 Scope 3 categories defined by the GHG Protocol, up from 1 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Midea Group reported total Scope 3 emissions of 196,247,729 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 5.01% of these emissions originated from upstream activities such as purchased goods and capital goods, while 94.99% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Midea Group's Scope 3 emissions increased by 3,856.61%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Midea Group reported emissions for 3 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Midea Group's Scope 3 emissions were:a
In 2024, Midea Group reported Scope 1 greenhouse gas (GHG) emissions of 681,036 tCO₂e and total revenues of USD 56,054 millions. This translates into an emissions intensity of 12.15 tCO₂e per millions USD.a
In 2024, Midea Group reported a Scope 1 emissions intensity of 12.15 tCO₂e per millions USD. Compared to the peer group median of 5.98, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Midea Group ranked 18 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Midea Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Midea Group reported a total carbon footprint of 198,451,201 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2,634.12% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Midea Group's total carbon footprint was Scope 3 emissions, accounting for 98.89% of the company's total carbon footprint, followed by Scope 2 emissions at 0.77%.a