MPNGY - Meituan Launches Green Tech Fund and Other Initiatives on World Environment Day

PR Newswire

HONG KONG , June 4, 2021 /PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, today announced the launch of the Meituan Green Tech Fund and a series of green initiatives to celebrate World Environment Day.

Meituan is allocating an initial amount of RMB 500 million for the Meituan Green Tech Fund to drive low-carbon green development together with industry organizations, researchers and scientists. In response to China's carbon neutral efforts as a whole, this particular initiative aims to support the research and application of green technologies through charitable causes.

The United Nations has designated June 5 ^th as World Environment Day , with this year's theme: "Reimagine.Recreate.Restore." While this day has been celebrated since 1972, recent challenges caused by climate change and COVID-19 have brought environmental issues into focus with a greater sense of urgency. Meituan's efforts strongly align with the United Nations' goal of ecosystem restoration, and this new fund furthers the Company's existing sustainability commitments.

The fund will focus on two initiatives, the Meituan Green Tech Award and a demonstration project. The Meituan Green Tech Award will support emerging researchers' and scientists' studies on fundamental technologies that support China's low-carbon and circular development strategy. The demonstration project will encourage innovative applications in eco-friendly packaging, recycling, and smart supply chain operations.

This year, the Meituan Green Tech Award plans to support 10 researchers who focus on green and low-carbon packaging, carbon capture and utilization, low-carbon transport and energy storage studies, allocating a one million RMB award to each of them. The demonstration project will consist of 10 entities that deploy innovative applications in food delivery green packaging, plastics recycling, and big data supply chain developments, with a one to three million RMB fund designated for each of them.

Applications for both the tech award and the demonstration project will officially open for registration in late August, 2021.

Meituan is also launching a "carbon account" for its delivery merchants and users. Starting June 9 ^th , merchants will be able to log and track their environmental protection efforts in their merchant app, including data on their reduction of disposable products and use of recycled packaging. Users can now track their carbon footprints in the Meituan app, by monitoring their "no-disposable cutlery" order history and eco-friendly transportation mileage data, which is accumulated through shared Meituan Bikes rides.

Meituan launched the Blue Mountain Project (????) in August 2017 to drive sustainability efforts in the food delivery industry, bringing together merchants and users to participate in environmental protection initiatives. As part of its green life cycle management philosophy, Meituan Bikes recycles disposed polyurethane tires from its shared bikes and electric mopeds, using the material to build running tracks and sports grounds for people in remote areas. As of today, Meituan has created 10 such sports grounds in provinces such as Sichuan and Guizhou , benefiting over 5,000 students and residents. The Company plans to donate an additional 10 sports grounds by 2022.

About Meituan

Meituan (HKG: 3690) (the "Company") is China's leading e-commerce platform for services. With the mission of "We help people eat better, live better," the Company's platform uses technology to connect consumers and merchants. Service offerings on the platform address people's daily needs for food, and extend further to broad lifestyle and travel services. Meituan is the world's leading on-demand food delivery service provider and China's leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China , including Meituan, China's leading online marketplace for services, Dianping, China's leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. Meituan has 569.3 million Annual Transacting Users and 7.1 million Annual Active Merchants as of March 31, 2021 . The Company operates in over 2,800 cities and counties in China .

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ICR Inc.
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SOURCE Meituan