Thematic Forum III: "Carbon Neutrality and New Energy" | Tsinghua PBCSF Carbon Neutrality Economic F

On September 16th, the Tsinghua PBC School of Finance Carbon Neutrality Economics Forum was held at the main building of Tsinghua University. The sub-forum "Carbon Neutrality and New Energy" was successfully held, featuring keynote speeches and a roundtable discussion. Gao Hao, Director of the Global Family Business Research Center and Deputy Director of the Green Finance Development Research Center at the National Institute of Financial Research, Tsinghua University, moderated the keynote speech session.

Shi Dinghuan

Shi Dinghuan, former State Council Counselor and former Chairman of the China Renewable Energy Society, delivered a speech. Shi mentioned that since General Secretary Xi Jinping proposed the "dual carbon" goal, it has sparked heated discussions across the country, and the academic community has conducted in-depth research on this topic, laying a solid foundation for achieving the "dual carbon" goal. Achieving carbon peaking and carbon neutrality is an important goal of the energy revolution, which is related to China's sustainable development and the building of a community with a shared future for mankind; it is a systematic project and a strategic task. For the energy industry, this means developing new, green energy sources, the most important of which is developing clean and renewable energy. China has abundant renewable energy resources. Shi introduced the research and achievements China has made in the development and utilization of new energy over the past few decades. To date, several major renewable energy industries in China have become the world's largest, strongest, and most innovative industries. In particular, the photovoltaic industry is the most internationally competitive industry among the national strategic emerging industries.

Li Zheng

Li Zheng, Executive Vice President of the Institute for Climate Change and Sustainable Development at Tsinghua University and Director of the Tsinghua University Low-Carbon Energy Laboratory, then spoke. He first analyzed the logic of climate change and the path to address it. Climate change is not a distant crisis, but a process that is happening right now, all around us. To reduce the potential harm caused by climate change, it is necessary to control the reduction of carbon emissions. The path to achieving the "dual carbon" goal is to reach the peak of global greenhouse gas emissions as soon as possible and achieve a balance between anthropogenic emissions and carbon absorption. Although the road ahead is not smooth, climate change has led to a new consensus among countries around the world on low-carbon development, pushing economic development and competition onto a new track. Subsequently, Li Zheng shared his insights on energy transition. China is a major carbon emitter, and reducing the use of fossil fuels at the source, improving energy efficiency, and properly managing the coordination between renewable energy and traditional fossil fuels is a challenging task that requires long-term investment.

Roundtable discussion

Following the keynote speeches, a roundtable discussion commenced. Qian Xiaojun, a member of the China Carbon Neutrality 50 Forum, Director of the Research Center for Green Economy and Sustainable Development at Tsinghua University, Vice Dean of the Schwarzman College at Tsinghua University, and Professor at the School of Economics and Management at Tsinghua University, moderated the roundtable. Guests participating in the discussion included: Yang Jingdong, Chairman of Zhejiang Energy Natural Gas Group; Meng Xiangfeng, First Secretary of the Party Committee of CATL (participating online); Peng Lixin, Vice President of Cummins Inc.; and Zhao Jing, Chief Strategy Officer of TBEA Co., Ltd. The guests discussed the theme of "New Energy, New Development."

Yang Jingdong

Yang Jingdong spoke first, proposing that achieving the "dual carbon" target requires balancing economic development and energy security. Natural gas will continue to increase its share in the future energy mix, but it will also reach a growth plateau, which will help control overall carbon dioxide emissions for a certain period. However, after carbon peaking, natural gas, as a fossil fuel, will need to undergo a radical transformation. Since proposing the "dual carbon" target, Zhejiang Province has vigorously developed renewable energy, promoted the transformation and upgrading of traditional energy sources, and actively conducted research on key technologies to implement national strategic goals.

Meng Xiangfeng participated in the roundtable discussion via video.

Meng Xiangfeng participated in the roundtable discussion via online video. He noted that energy storage is a crucial supporting technology and key infrastructure for new power systems. Currently, lithium battery energy storage offers advantages over pumped hydro storage, such as faster response and lack of geographical limitations. Electrochemical energy storage has also seen widespread application in the past two years, and coupled with policy support, this has led to the tremendous success of China's new energy vehicles. To truly achieve "carbon neutrality," it is essential to develop a new power system primarily based on new energy sources, continuously strengthening technological and resource reserves.

Peng Lixin

Peng Lixin stated that Cummins, a traditional power company that manufactures diesel engines, is also striving to transform itself in the global wave of zero-carbon and low-carbon energy, essentially "revolutionizing itself." The "3060" goal is actually two-way: internally, it involves proactively reducing carbon emissions in our production and daily life processes; externally, it aims to minimize the carbon emissions of our products. Cummins has set clear targets and work requirements for this, taking various measures to reduce carbon emissions internally and implementing a "diversification strategy" externally, using hydrogen fuel to replace current fossil fuels. It is continuously improving its technology and methods for utilizing hydrogen energy.

Zhao Jing

Zhao Jing introduced TBEA's work under the "dual carbon" target, focusing on both energy consumption and energy production. In energy production, TBEA is replacing traditional coal-fired power generation with clean energy. In energy consumption, TBEA is closely following national initiatives, carrying out demonstration applications of source-grid-load-storage projects. Through various means of carbon reduction, TBEA contributes more low-carbon products to society. Under the "dual carbon" target, TBEA aims to create greater green value for the country and society.

Zhou Zhiming

The roundtable discussion concluded, marking the end of the "Carbon Neutrality and New Energy" themed forum. Simultaneously, the Tsinghua PBC School of Finance "Carbon Neutral Economy" Forum also drew to a close. Zhou Zhiming, Party Secretary and Executive Director of China Economic Publishing House, a co-organizer of the forum, delivered the closing remarks. He thanked all the guests for their insightful reports and sharing at the forum, and expressed gratitude to the audience and media for their enthusiastic participation and support. He also conveyed Sinopec's willingness to work with colleagues from all sectors to contribute to achieving the "dual carbon" goal and promoting sustainable economic and social development.