The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) and CarbonNewture have joined hands to establish a dual-carbon platform, facilitating the green transformation of new energy enterprises

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Focused on 'Building a New Type of Power System for High-Quality Sustainable Development,' the main forum of the 2023 China (Wenzhou) International New Energy Conference and Electrical Industry Innovation Summit was grandly held on May 12, 2023, at the Wenzhou International Convention and Exhibition Center. The participants of the conference included Vice President Shi Yonghong of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), Secretary-General Bai Wenbo of the China Electrical Appliances Industry Association, Deputy Secretary-General Yang Tong of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, and others. Huang Yanxiang, CEO of CarbonNewture, was also invited to participate and deliver a keynote speech titled 'CCCME Dual-Carbon Platform Assists Green Transformation of Electrical New Energy Enterprises.'

In September 2020, the Chinese government made a commitment to the world, striving to achieve carbon peak by 2030 and carbon neutrality by 2060, known as the 'dual-carbon' goals. The introduction of the dual-carbon goals demonstrates China's firm determination to actively address climate change and pursue green and low-carbon development. It will have a profound impact on various aspects of China's socio-economic operation, ecological environment quality, industrial structure layout, and consumption patterns. In particular, in the field of electromechanical energy and power, the introduction of these goals will bring about systemic changes in multiple dimensions.

Facing the Challenges of Dual-Carbon Transformation for Electromechanical Enterprises

However, transformation does not happen overnight, and the dual-carbon transformation of electromechanical enterprises also faces many challenges. Dual-carbon transformation often comes with an increase in carbon emission reduction costs, and companies need to balance between economic benefits and environmental benefits to ensure the sustainability and profitability of dual-carbon transformation. This requires comprehensive cost-benefit analysis and risk assessment by enterprises.

In terms of the upstream and downstream supply chain, the dual-carbon transformation of electromechanical enterprises requires cooperation and coordination with supply chain partners to ensure the environmental friendliness and traceability of raw materials and components. How to integrate and improve the entire supply chain, including finding suppliers that meet environmental standards, is also a challenge faced by many companies in the transformation process.

Furthermore, as electromechanical enterprises expand internationally, they need to communicate their environmental and carbon emission reduction measures to the market and consumers to gain international market recognition and competitive advantages. How enterprises effectively promote and market their initiatives, shape a green brand image, is also a major challenge faced by many companies.

Empowering Dual-Carbon Transformation and Innovation for Electromechanical Enterprises

China is the world's largest producer and exporter of electromechanical products, and the CCCME has a large number of electromechanical manufacturing member enterprises. These member enterprises not only need to achieve high-quality development domestically but also face low-carbon and green pressures when 'going global.' Policies and regulations such as the European Union's New Circular Economy Action Plan and New Battery Act set thresholds for the export of Chinese electromechanical products to the EU in terms of green and low-carbon compliance. Therefore, the establishment of the 'China CCCME Dual-Carbon Information Disclosure Platform' is a proactive action by the chamber to meet the needs of member enterprises' green and low-carbon development and national guidance, in collaboration with CarbonNewture.

Huang Yanxiang stated that the establishment of the China CCCME Dual-Carbon Information Disclosure Platform will help promote the carbon-neutral transformation of electromechanical enterprises, accurately grasp their greenhouse gas emissions, disclose the carbon-neutral transformation goals in compliance, introduce innovative emission reduction and carbon reduction technologies, and provide targeted green funding support for electromechanical enterprises.

Huang Yanxiang pointed out that the goal of the Dual Carbon Information Disclosure Platform in China's electromechanical industry is to promote the zero-carbon certification and carbon labeling system for Chinese electromechanical products, as well as to establish benchmark cases and promote the publicity of zero-carbon products in the electromechanical industry. This platform can assist companies in overcoming international trade barriers, particularly by supporting Chinese electromechanical suppliers in addressing challenges in the field of international public procurement, such as the European Union's Carbon Border Adjustment Mechanism (CBAM), while also encouraging more sustainable procurement practices, such as purchasing zero-carbon electromechanical products.

The platform aims to provide high-quality services to member companies of the chamber of commerce, including promoting the achievements of green and low-carbon emissions, addressing international trade barriers related to carbon, managing and certifying corporate carbon emissions, among other aspects. This will help facilitate the green and low-carbon transformation of member companies and promote the green and low-carbon development of China's electromechanical industry. In the long run, the platform also hopes to leverage its capabilities to promote the establishment and improvement of Environmental, Social, and Governance (ESG) standards in China's electromechanical industry, assisting more Chinese electromechanical enterprises in building overseas green supply chains and achieving sustainable investment.

Combination of low-carbonization and digital intelligence

Huang Yanxiang emphasized that dual carbon transformation relies not only on decarbonization but also on the integration of digital technologies. The Dual Carbon Information Disclosure Platform in China's electromechanical industry incorporates technologies such as big data, artificial intelligence, and blockchain to achieve the organic integration of decarbonization and digitalization.

Big data technology can help electromechanical companies collect and manage large-scale energy consumption and carbon emission data, covering various aspects such as production equipment, supply chains, and transportation. By integrating and analyzing the data, bottlenecks in energy consumption and hidden emissions can be identified.

Artificial intelligence, on the other hand, can analyze and model large volumes of data to identify patterns and trends in energy consumption and carbon emissions, enabling the prediction of future energy demand and carbon emissions, providing a scientific basis for formulating low-carbon strategies.

In terms of carbon emission data traceability and verification, the decentralized and non-tamperable carbon emission data storage and transaction records of blockchain technology ensure the reliability and transparency of corporate carbon emission data, and realize the full traceability and verification of upstream and downstream carbon emissions.