Ant Group has released its 2023 Sustainability Report, documenting significant achievements since adopting its ESG strategy in 2022. The report underscores advancements in Technological Innovation, Digital Inclusion, Green and Low-Carbon Development, and an Open Ecosystem.

Ant Group invested RMB 21.19 billion (approx. USD 2.92 billion) in technology R&D in 2023, emphasizing AI development, particularly through its BaiLing Foundation Model approved for public use. This model powers AI assistants on the Alipay platform, aiding users in accessing services like health and financial management.

The company served over 87 million SMEs alongside MYbank by leveraging digital payment solutions. Additionally, 4.27 million merchants used digital tools on the Alipay platform, seeing a 68% year-on-year growth in transaction volumes.

In sustainability efforts, Ant Group achieved carbon neutrality for three consecutive years and reduced its Scope 1 & 2 emissions by 43.19% compared to 2020. The Alipay Ant Forest initiative led to planting 475 million trees since 2016.

For cross-border commerce, Alipay+ facilitated transactions across more than 25 e-wallets and banking apps, benefiting over 88 million merchants globally. The WorldFirst platform served one million SME traders internationally.

Ant Group’s governance improvements included aligning senior management’s remuneration with sustainability performance metrics, adopting SASB standards for reporting, and enhancing climate-related disclosures per ISSB requirements. The full Sustainability Report will soon be available in English on Ant Group’s website.