5 November 2024, Tue |
11:32 PM
Yuanqing Yang, Chairman and CEO of Lenovo, set out the company’s bold vision for the year ahead at the annual company kick-off to mark the start of Lenovo’s fiscal year. This includes expanding on its recent commitment to double R&D investment and announcing that the Group will hire 12,000 R&D professionals globally over the next three years, as well as setting a goal of reaching net-zero emissions by 2050.
The intensified commitment to innovation, which is supported by Environmental, Social, and Governance (ESG) commitments, comes as Lenovo continues its transformation from a device company to a global technology powerhouse that includes services and solutions.
Lenovo’s CEO outlined the Group’s mission for the coming year, which includes developing new growth engines, investing in new and emerging technologies, and driving sustainable profitability improvements.
R&D remains a top priority for Lenovo in fiscal year 22/23. R&D investment will be doubled, with 12,000 new R&D professionals hired over the next three years, in addition to around 5,000 hired during fiscal FY21/22, to support research across the new IT architecture of ‘Client-Edge-Cloud-Network-Intelligence.’
“My vision for Lenovo’s innovation is to become one of the world’s leading ICT companies, a pioneer and enabler of intelligent transformation,” said Chairman and CEO, Yuanqing Yang. “Our investment plan will center around the “Client-Edge-Cloud-Network-Intelligence” architecture, with a three-track approach to focus on short-, medium- and long-term payback. Our intention is to optimize between technology with quick market returns and foundational research, and between continuous improvement and breakthrough innovation.”
Along with its R&D commitments, Lenovo outlined its vision to achieve net-zero energy by 2050, and Lenovo is collaborating with the Science Based Target Initiative to set goals that support this vision. For the past 14 years, the company has reported on its ESG commitments, including outlining its work and goals in climate change mitigation, the circular economy, and sustainable materials. Lenovo exceeded its 2020 emission reduction goals a year ahead of schedule in 2020, and it has already set science-based targets for 2030.
Yuanqing Yang also committed to positively impacting 15 million lives through philanthropic programs and partnerships by 2025, in addition to the net-zero vision. The philanthropic mission of the company is to provide smarter technology for all by providing underrepresented communities with access to technology and STEM education.
Yuanqing Yang concluded: “Lenovo is much more than business growth and financial success. We are innovators who are committed to helping solve humanity’s greatest challenges. Smarter powers what’s next.”
Read more about Lenovo’s sustainability initiatives in the most recent ESG Report, including the 2030 greenhouse gas emissions reduction goals approved by the Science-Based Targets initiative.
