Special Topic: 2025 Global Sustainable Leaders Conference & First Green Industry and Sustainable Consumption Expo The 2025 Global Sustainable Leaders Conference is being held from October 16 to 18 at the Expo Park in Huangpu District, Shanghai. Jointly organized by the World Green Design Organization (WGDO) and Sina Group, with support from the Beijing office of the International Financial Reporting Standards Foundation (IFRS Foundation), and hosted by Sina Finance and the Beijing Representative Office of the World Green Design Organization, with support from the Huangpu District Government. The conference focuses on the theme “Joining Hands to Face Challenges: Global Action, Innovation, and Sustainable Growth,” gathering global wisdom and exploring new pathways for sustainable development, injecting strong "Chinese momentum" into global sustainable governance. This year's sustainable conference has been further upgraded from the previous four sessions of the "ESG Global Leaders Conference"! The lineup of guests is impressive, with the organizing committee inviting approximately 500 distinguished guests from both domestic and international backgrounds, including around 100 overseas guests, which include political figures and former officials, representatives from international organizations, Nobel Prize laureates, Turing Award winners, and leaders from Fortune Global 500 companies, among other top scholars and industry leaders. The conference will delve into nearly 50 discussion topics, covering fields such as energy and "dual carbon" targets, green finance, sustainable consumption, technology, and public welfare. Luo Xiaoli, President of Otis Greater China, attended and delivered a speech.

In her speech, Luo Xiaoli emphasized that building energy consumption accounts for 30% of global energy consumption and is a key area for cities to achieve low-carbon transformation. She stressed that renovating existing infrastructure with mature technology is an efficient pathway to address climate change and achieve net-zero goals. Luo noted that as a global leader in the elevator industry, Otis is committed to unlocking the significant decarbonization potential in the industrial sector. “Globally, we have over 20 million elevators in operation, of which 7 million have been in use for over 20 years and are nearing the end of their lifespan. In the next decade, that number will double to 15 million, representing a decarbonization opportunity of billions of watts hidden in current urban infrastructure,” Luo pointed out. For enterprises and cities facing net-zero goals, elevator upgrades are a viable solution. She believes that achieving net-zero solely through technology is not sufficient; it requires innovation from the private sector and synergy between public policy and creative financing, with China serving as a model for this integration. China has the largest elevator stock globally, with over 11 million operational units by 2024, including 1 million that have been in use for over 15 years. Supported by government financing mechanisms and policies, residential complexes are undergoing large-scale upgrades of old elevators, with an anticipated replacement of 100,000 units this year. This collaborative model stimulates financing through policy guidance, eliminates barriers, and the successful delivery experience of this mature technology is being replicated globally. Here is the full text of the speech: Luo Xiaoli: Distinguished guests, ladies and gentlemen, good morning! We currently face significant sustainability challenges; urban areas house over half of the global population but generate 70% of emissions. Buildings alone account for 30% of energy consumption—this scale is pivotal as a springboard for achieving ambitious climate targets, such as China’s 2030 carbon peaking goal. At Otis, we believe that mature industry possesses substantial decarbonization potential, which can be unleashed by embedding core professional technologies into standard products to accelerate deployment across existing infrastructures. We also collaborate with both public and private sectors to transform the broader environment. My company Otis has a 170-year legacy of innovation; our founder, Elisha Otis, invented the elevator safety brake that made modern urbanization possible. As the world's largest elevator company, we transport 2.4 billion people daily and maintain 2.4 million elevators. Thirty years ago, Otis introduced regenerative drive technology, a crucial innovation that replaces traditional energy-consuming mechanisms. This technology improved the lifespan of the belt by three times compared to steel cables, eliminates the need for lubrication, and removes the requirement for machine rooms, while providing passengers with a smoother and quieter experience. In 2005, Otis made regenerative drives the standard for second-generation elevators—a bold commercial move raising manufacturing costs significantly. However, the second-generation elevators performed excellently, becoming Otis's most popular model, with over 1 million units installed to date. From the industry perspective, elevators equipped with regenerative drives have transformed energy recovery from a premium option into a default feature for new constructions, which now applies equally to elevator updates and retrofits. Globally, we have over 20 million elevators in operation, with 7 million in service for over 20 years and nearing their end of life; in the next decade, that figure is expected to double to 15 million, representing apparent decarbonization opportunities amounting to billions of watts within current urban infrastructures. For those committed to net-zero goals and ESG criteria, elevator upgrades and renovations represent feasible solutions requiring moderate financial input and minimal disruption while achieving significant energy savings. What might these energy savings look like? By employing belt technology and regenerative drives, second-generation elevators can achieve 75% reduction in energy consumption compared to traditional hydraulic systems. Today's third-generation and Gen360 elevators are digital-native elevators utilizing digital technologies such as IoT, machine learning, and artificial intelligence to create smart connected devices that enhance energy efficiency while allowing onsite colleagues and experts to remotely manage elevator performance. Yet, achieving net-zero cannot rely on technology alone; synergies between private sector innovations and public policies with creative financing are essential. China exemplifies this integration. We hold the largest elevator stock globally, with over 11 million units operational in 2024, of which 1 million have exceeded 15 years of use. This scenario presents a dual challenge of substantial renewal demands and abundant opportunities. Government financing mechanisms are facilitating the large-scale upgrade of aging elevators in residential complexes, with an expectation of 100,000 elevators replaced this year due to accurate government support. This partnership reflects a policy-driven stimulus for financing, eliminating barriers and creating replicable outcomes of mature technology deployment worldwide. We see many countries establishing such innovative mechanisms to accelerate building decarbonization. The stakes are clear: cash-strapped buildings will constitute 80% of the structural stock by 2050. More operational elevators equipped with advanced belt technology developed by Otis will significantly influence energy efficiency and sustainability. The upgrades we implement today will impact energy consumption for decades to come. Distinguished guests, ladies and gentlemen, the technology is ready, financing mechanisms are in place, and cross-sector partnerships are forming. We can transform existing infrastructures, one elevator at a time, one building at a time, one city at a time. Together, we can co-create sustainable urban futures. Thank you!