Dr. SHU Yinbiao Attends the High-Level Virtual Dialogue between His Royal Highness The Prince of Wales and Chinese Business Leaders

On October 12, Dr. SHU Yinbiao, Chairman of China Huaneng Group Co., Ltd., President of IEC, and Academician of Chinese Academy of Engineering, attended the High-Level Virtual Dialogue between His Royal Highness The Prince of Wales and Chinese Business Leaders, and delivered a speech in Beijing. Prince Charles, together with Gao Yan, President of CCPIT, Zheng Zeguang, Chinese Ambassador to the UK, and Brian Moynihan, Chairman and CEO of Bank of America and Co-Chair of the Sustainable Market Initiative, attended the meeting and delivered speeches.

Themed “Common Earth, Common Future”, the dialogue invited twenty entrepreneurs from China's energy, environmental protection, finance, manufacturing, communications, biomedical, artificial intelligence, infrastructure and other related industries, aiming at promoting the Chinese business community to actively participate in the Sustainable Market Initiative proposed by Prince Charles, and discussing new opportunities for cooperation between Chinese and international business communities in the field of sustainable development.

Among them, 10 Chinese entrepreneurs focused on six topics and shared opinions with Prince Charles, including improving energy efficiency, cultivating green and low-carbon consumption, encouraging the private sector to participate in biodiversity governance, perfecting the green financial market, innovating solutions, and strengthening market exchanges.

Dr. SHU Yinbiao pointed out that last September, President Xi Jinping announced at the 75th United Nations General Assembly that China will strive to reach its peak carbon emissions by 2030 and achieve carbon neutrality by 2060, which is a major decision made by China based on the responsibility of building a community with a shared future for mankind and the inherent requirement of realizing sustainable development. Both China and the UK are major countries with global influence, and play significant roles in promoting the green and low-carbon development of world energy.

In the process of achieving carbon peak and carbon neutrality goals, China Huaneng has been accelerating the development of clean energy, actively promoting the clean and efficient use of coal-fired power, deploying CCUS, advanced energy storage, green hydrogen production, fuel-cells and other technologies. China Huaneng attaches great importance to strengthening China-UK exchanges and collaborations, and actively facilitates UK's energy transition. China Huaneng has invested four gas-fired power projects in the UK and built Europe's largest energy storage project, the UK Minety Battery Storage Project.

Facing arduous tasks of carbon peak and carbon neutrality, Dr. SHU Yinbiao put forward three suggestions:

First, actively lead the development of low-carbon economy and  encourage companies from both countries to increase investment in low-carbon energy. Jointly cultivate demonstration projects and place green and low-carbon industries as the focus of economic recovery, and energy transition.

Second, deepen low-carbon technology collaborations and speed up breakthroughs in key technologies to provide scientific and technological supports for low-carbon transition.

Third, enhance international standardization cooperation, improve the international standard system of low-carbon technology so as to promote the development of green industries and recovery of global economy.