China ESG News（5.6-5.7）

China's Renewable Energy Installed Capacity Exceeds 1.5 Billion Kilowatts

In a recent announcement by the National Energy Administration, China's renewable energy sector continues to achieve significant milestones. During the first quarter of 2024, the country witnessed an addition of 63.67 million kilowatts of renewable energy installed capacity, marking a remarkable 34% year-on-year increase. This surge accounted for 92% of the total newly added capacity during the period. Moreover, the government's commitment to innovation is evident, as the 2024 government work report, for the first time, emphasizes the development of new energy storage solutions.

By the end of the first quarter of 2024, China had successfully completed and put into operation new energy storage projects, accumulating an installed capacity of 35.3 million kilowatts (77.68 million kilowatt-hours). This represents a growth of over 12% compared to the end of 2023 and an astonishing 210% increase compared to the end of the first quarter of 2023.

Source: Sina ESG (5/7)

Driving Green Transformation Across the Entire Tea Industry Supply Chain through Carbon Footprint Management

Product carbon footprint refers to the total carbon emissions generated throughout the entire process of a product, including raw material processing, transportation, production, and factory sales. In November 2023, the National Development and Reform Commission, along with four other departments, issued the "Opinions on Accelerating the Establishment of a Product Carbon Footprint Management System," signaling the nation's high-level attention and policy guidance towards product carbon footprint management.

Source: China Environmental News (5/6)

Listed Zhejiang Companies Expedite Disclosure of “Green Reports”

The Shanghai, Shenzhen, and Beijing Stock Exchanges' implementation of the Sustainable Development Reporting (Trial) Guidelines has led to an acceleration in the disclosure of sustainability reports by listed companies.

According to data as of April 30th, among the companies continuously included in the sample indices of the Shanghai 180, STAR 50, Shenzhen 100, and ChiNext Index, there are 41 Zhejiang province-listed companies.

Among these, 33 have individually disclosed their 2023 social responsibility reports, ESG reports, or sustainable development reports. The disclosures are primarily concentrated in five major industries: electric equipment, machinery equipment, basic chemicals, pharmaceuticals, biotechnology, and light manufacturing.

Source: China Securities Journal (5/6)