Tuya Smart's HEMS Recognized in UNGC "20 CASES FOR 20 YEARS" of Private Sector Sustainable Development in China

Core Insights - Tuya Smart has been recognized for its innovative Home Energy Management System (HEMS) at the "20 CASES FOR 20 YEARS" initiative by UNGC, reflecting its commitment to ESG principles and sustainable development [1][2][3] Group 1: Recognition and Commitment - The recognition of Tuya's HEMS highlights the company's dedication to balancing social responsibility, environmental protection, and economic growth [3] - The "20 CASES for 20 YEARS" initiative selected 20 exemplary sustainable development cases from various companies, including Tuya, based on criteria such as economic efficiency and innovation [2] Group 2: Smart Energy Management Solutions - Tuya's HEMS aims to empower households to achieve smart energy management, addressing the fact that household electricity consumption accounts for approximately 30% of global power usage [4] - In Singapore, Tuya's HEMS is projected to help 1.8 million households save an average of 25% on energy costs, with some reporting up to a 54% reduction in monthly electricity expenses [5] Group 3: Collaborations and Global Impact - Tuya collaborates with various stakeholders, including customers and governments, to provide tools and support for personalized smart energy solutions [6] - Partnerships in Europe and with global entities aim to expand the adoption of smart home energy management solutions, promoting green living [7] Group 4: Participation in Global Events - Tuya showcased its HEMS at COP29, emphasizing the potential of smart energy management in driving global carbon reduction efforts [8] - The company's collaborations are enhancing its capabilities in key ESG areas, contributing to a smarter and greener future [10]