Exploring the Path for Chinese Enterprises to Achieve Carbon Neutrality

By: TUV Rheinland
TSUEN WAN, Hong Kong - March 25, 2022 - PRLog -- Over 70% of respondents know about corporate greenhouse gas emissions

Among them, 72% of respondents say that they know the sources, scale and nature of corporate greenhouse gas emissions. Meanwhile, nearly 50% of enterprises have either specially set up a carbon asset management department, or cooperated with professional third-party institutions.

The road to carbon neutrality is full of challenges and there is a long way to go

Although 73% of respondents say that the 2060 carbon neutrality goal has an impact on their business, only 12% of the surveyed enterprises have made specific decarbonisation/net-zero emission targets and timetables, and 30% of them know nothing about carbon neutrality or haven't made any relevant plans.

At the same time, nearly half of the enterprises haven't determined the time limit for achieving "carbon neutrality", and the proportions of respondents with a time limit of 3-5 years, 5-10 years, and over 10 years are 15%, 26% and 14%, respectively.

The reason behind this may be that enterprises encounter challenges that they find difficult to handle when taking specific measures. The most challenging obstacles include lack of clear understanding of policies and market trends, lack of expertise and ability, and lack of cost-effective solutions. In addition, lack of management support and complex execution procedures within enterprises are also difficulties mentioned by respondents.

Seize the opportunity to rise up to challenges, and there is no time to lose for low-carbon measures

Despite the many challenges in achieving carbon neutrality, enterprises are full of confidence. After the dual-carbons goal have been proposed, 17% of surveyed enterprises indicate that they aim to become a "pioneer on carbon reduction", and another 42% and 32% say that they will strive to reach the above-average level and average level of the industry.

At the same time, over 60% of surveyed enterprises say that they are willing to invest 1%-5% of net profits in the next 10 years to achieve carbon neutrality, 20% say that they are willing to invest 6%-10% of net profits, and 10% say that they are willing to invest more than 10% of net profits.

In terms of investment in carbon reduction, the aspects that respondents attach the greatest importance include: equipment upgrading; investment in renewable energy; and investment in research and development, supply chain, materials, etc.

As for the low-carbon action plan for energy conservation and emission reduction, 17% of surveyed enterprises have mature plans that have gone into full swing, 36% choose to hire a professional third-party organization, and 30% are gradually trying relevant measures.

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