Alibaba Group Holding Limited's (NYSE:BABA) cloud business unit launched Energy Expert, a digital platform to help its global customers manage their carbon emissions, the SCMP reports.
Companies that use the artificial intelligence-powered platform can measure, analyze and manage their carbon emissions with the software-as-a-service (SaaS) tool.
Energy Expert helps customers automate their carbon accounting and reporting process and obtain real-time sustainability impact statistics.
Also Read: Alibaba CEO Daniel Zhang Yong Preaches Tech's Positive Role On Chinese Society: All You Need To Know
It can help users identify the source of carbon emissions from daily business activities and the entire life cycle of their products.
Energy Expert can give AI-powered recommendations to help customers balance their business growth and environmental impact.
The digital tool has been in use in China since February, serving over 2,000 companies and helping them save over 2 million kilowatt-hours of energy per day and reducing carbon dioxide emissions by 400,000 tons.
International expansion has become imminent for Alibaba and other Chinese companies to beat the heat of the domestic tech crackdown followed by the Covid restriction-led economic slowdown.
Alibaba Cloud, China's biggest cloud service provider with a 36.7% market share in the first quarter of 2022, aims to reach carbon neutrality by 2030.
Alibaba focused on more sustainable products on the company's e-commerce platform in solidarity with China's attempt to achieve carbon neutrality by 2060.
During the "11.11 Shopping Festival" in 2021, Alibaba cut computing resources by 50% during peak time through its cloud-native technologies.
In 2022, Alibaba's cloud-based broadcast distribution system saw a nearly 40% reduction of onsite broadcast personnel versus the last Winter Olympics.
Price Action: BABA shares traded lower by 2.18% at $113.50 premarket on the last check Thursday.
Photo by Fooksou Lamimo via Wikimedia
