Green Transformation Breeds New Growth Opportunities Entrepreneurs at home and abroad are calling for more openness and cooperation

Carbon neutrality and global climate governance are one of the important topics of the 2024 Annual Meeting of the China Development Forum. During the forum, a number of domestic and foreign entrepreneurs said that green and low-carbon transformation breeds new growth opportunities, and to truly embark on the path of green and low-carbon development, we need more open cooperation on a global scale.

Forum site (photo provided by the organizer)

China's pragmatic green transformation has been praised by many foreign companies

In the past year, the global extreme weather events have become frequent, and the urgency of green and low-carbon transformation has intensified, and various industries have continued to pay more attention to climate governance.

Since China put forward its "dual carbon" goal more than three years ago, it has promoted all levels of the economy and society to go "green". During the forum, a number of foreign companies spoke highly of China's efforts and achievements in pragmatic green transformation.

Apple CEO Tim Cook praised the performance of Chinese suppliers in green and low-carbon, saying that the active cooperation of suppliers has provided important help for Apple to achieve its carbon neutrality goal. "[Chinese suppliers] are not only embracing our goals, but innovating along the way, developing new ways to help or partner with Apple to achieve that goal. "They're going to put a question mark on everything, like can they save more energy?" and they're very welcoming to that challenge." ”

BHP Billiton CEO Murray Ham said that China has played an important role in the global clean energy transition and has taken on a leading role in many aspects. In 2023 alone, China's investment in emerging clean energy has reached US$676 billion, a year-on-year increase of 24%, forming a huge driving force.

In 2024, China will continue to vigorously develop a green and low-carbon economy, and actively and steadily promote carbon peak and carbon neutrality. The government work report proposes to improve the ability of carbon emission statistical accounting and verification, establish a carbon footprint management system, and expand the coverage of the national carbon market.

"The growth target of green and low-carbon industries should be appropriately raised. Liu Shijin, chief adviser of the China Council for International Cooperation on Environment and Development and former deputy director of the Development Research Center of the State Council, said that the replacement of new technologies and new industries for the original technologies and industries should be accelerated accordingly, which is conducive to enterprises to achieve economies of scale, reduce costs, increase R&D investment, and shorten the process of achieving "double carbon".

Green transformation breeds new development opportunities

In the past, when people talked about the green transition, they were often worried about the huge investment and cost increase behind it. However, China's specific practice shows that green transformation does not contradict economic growth, but breeds huge business opportunities and development opportunities.

Han Murui said that the vigorous development of China's "new three" represented by solar panels, electric vehicles and lithium batteries marks the importance of technology to green development and the economic opportunities brought by transformation. "Countries are working to achieve net-zero emissions on different timelines, and many businesses are seizing the economic opportunities that lie ahead. Companies with the financial, technical and operational capabilities to meet these needs in a sustainable way will be the winners of the future. ”

Nicholas Stern, a professor at the London School of Economics and Political Science, said that climate action and economic development are not mutually exclusive, but can go hand in hand. There will be a lot of innovation in this area that can significantly improve production efficiency. And the increase in investment can itself trigger growth.

"What used to be a conflicting relationship between carbon reduction and growth has now been transformed into a synergistic relationship. Liu Shijin said that with the acceleration of the "dual carbon" process, the accumulation of experience, especially the rapid development of digital technology, the cost has been greatly reduced. He said that for developed countries, achieving carbon neutrality through innovation is conducive to gaining new growth momentum, and for developing countries, economic and social modernization can be achieved through green development.

We will work together to promote global green development through broader openness and cooperation

Carbon neutrality and climate governance are global issues that are in the common interests of human society and require the joint efforts of all parties to address the challenges. During the forum, a number of domestic and foreign entrepreneurs said that achieving the goal of carbon neutrality requires more open cooperation.

"No single organization, no country or any region can achieve global carbon neutrality alone. Anglo American CEO Wan Dekun said that achieving carbon neutrality requires systemic change, a partnership between companies and a network across the value chain, and a commitment to each member to play their part. China is fulfilling its unequivocal commitment to play its part.

Standard Chartered Group Chief Executive Officer Wen Tosi said that at present, countries have their own carbon emission contract requirements, but they are not uniform, and the standards are not consistent. Over time, it is hoped that a global unified carbon market can be established, a carbon price can be formed, and enterprises can make better investment decisions.

In addition, he suggested that a complete and unified standard should be established around the supply chain, and a common language should be created so that consumers can clearly understand the carbon intensity of the products they buy, so that companies can also understand where the carbon footprint of suppliers is and how much carbon intensity it is. "China will certainly have a very important role to play in this regard. ”

Trafigura Chief Executive Officer and Executive Chairman of the Board of Directors Benjamin Wei said that the successful energy transition will not be an easy task and that it must only be accomplished through collective action. No single supplier in the supply chain can do this on its own.

"Climate change is reshaping the global energy landscape. Green transition is not an option, but an inevitability. Miguel Lopez, CEO of thyssenkrupp AG, quoted an ancient Chinese saying "the road is long, but the line is coming" to describe the global green and low-carbon road, "I believe that with the joint efforts of everyone, driven by technological innovation and collaboration, we will be able to achieve the common goal of limiting the temperature rise to 1.5 degrees Celsius, and reap more opportunities in the green transition." ”

The new quality productivity helps to achieve the "double carbon" goal

In the process of achieving the "double carbon" goal, scientific and technological innovation will profoundly reshape basic elements such as productivity and production relations, and promote revolutionary breakthroughs in technology, innovative allocation of production factors and in-depth industrial transformation and upgrading.

Yu Bing, general manager of the National Energy Investment Group Co., Ltd., proposed to create new quality productivity in the energy field. "It is necessary to reduce the cost of the industry with new technologies, strengthen the research and development of new technologies such as large-scale wind power, high-efficiency photovoltaic solar thermal, large-scale low-cost new energy storage, accelerate the research and development of grid-friendly, wind power, photovoltaic, energy storage, and new energy, and enhance the ability to replace traditional fossil energy. ”

Zhang Jianqiu, Senior Executive President of Yili Group, said that promoting energy conservation and emission reduction and achieving green development require continuous investment from enterprises. As for how to balance carbon reduction and efficiency increase, accelerating digital transformation is a golden key to solving this problem.

Zhang Junting, President of Rongcheng Group and Chairman of Rongcheng Iron and Steel Group, said that the core of the carbon neutrality transformation path of China's steel industry lies in the adjustment of the energy structure, including the application of clean energy, resource recycling and hydrogen energy smelting and other technological innovations to promote green and low-carbon transformation.

"Original and disruptive new technologies are new quality productivity, which will bring new models, reshape the global industrial chain, and add new impetus to industrial transformation and economic upgrading. In the future, we hope to have more discussions and strengthen exchanges in terms of technology and cost. She said.

Wen Shugang, chairman of China Huaneng Group Co., Ltd., said that it is necessary to strengthen the innovation of green and low-carbon technologies, accelerate the research of cutting-edge technologies such as new energy long-term energy storage, low-cost green hydrogen, ammonia alcohol, and large-scale carbon capture, and promote the deep integration of energy and power and digital technology, so as to jointly create an open and innovative ecology, give full play to the advantages of all parties, deepen cooperation, promote the transformation and application of technology, and achieve a win-win situation for all.

"China has become an important promoter of the world's energy development and transformation and the response to climate change. China's pragmatic progress will bring huge development opportunities for the world's energy technology innovation and industrial upgrading. Wen Shugang said.