From April 20th to 22nd, the Boao Forum for Asia Annual Conference 2022 was held in Boao, Hainan, China, with the theme of "epidemic and the world: jointly promoting global development and building a common future". President Xi Jinping delivered a keynote speech at the opening ceremony of the annual conference.

During the annual meeting, the "Sustainable Development of Asia and the World 2022 Annual Report - Green Transformation in Asia in Action" and "Asian Economic Prospects and Integration Process 2022 Annual Report" were released simultaneously. Among them, the "Sustainable Development of Asia and the World 2022 Annual Report - Green Transformation in Asia in Action" report highlights:

Nine recommendations for green transition in Asia

1. Build a green growth model to rebuild for a better future.

2. Develop a more ambitious 2030 NDC along with a timetable and roadmap.

3. Form a comprehensive green governance.

4. Gradually reduce coal use.

5. Scale up renewable energy and electrify transportation.

6. Form carbon pricing.

7. Develop green finance.

8. Increase climate finance and green technology transfer.

9. Join international climate change initiatives and platforms.

In the 2022 annual meeting of the Boao Forum for Asia, carbon neutrality has become a hot topic. On the first day, it focused on carbon neutrality and held sub-forums "Achieving Carbon Neutrality: Government in Action" and "Achieving Carbon Neutrality: Enterprises in Action". Action", discussing the issue of carbon neutrality.

Achieving carbon neutrality: Governments in action

In the sub-forum of "Achieving Carbon Neutrality: The Government in Action", representatives from international organizations and Chinese and foreign experts exchanged views on topics such as industrial restructuring, energy structure transformation, realization of temperature control targets, and establishment of international cooperation to improve carbon market mechanisms. Collision perspectives to explore the path to carbon neutrality.

Ban Ki-moon, chairman of the Boao Forum for Asia, urged all sectors of the international community to take immediate climate action. Countries need to continue to make more ambitious commitments and strengthen their green actions. The 27th UN Climate Change Conference, which will be held in Egypt this year, will be reviewed by countries. Progress in reducing carbon emissions and coming up with stronger and more ambitious plans offer good opportunities.

Li Bo, vice president of the International Monetary Fund, believes that the global carbon pricing floor should be set as an important means to achieve carbon neutrality.

Zhou Xiaochuan, vice chairman of the Boao Forum for Asia, pointed out in his speech that the carbon market can play an important role in optimizing resource allocation, and the combination of carbon tax and carbon trading can be considered in carbon pricing. The two explicit carbon price mechanisms, carbon tax and carbon trading, are not exactly the same. Carbon taxes have problems with pricing difficulties and inability to incentivize first movers. Consider choosing a lower level of carbon tax and offset the difficulty of carbon tax pricing through carbon market transactions. Carbon Border Adjustment Tax (CBAM) revenue collected by developed countries can be used to transfer funds to developing countries as part of the $100 billion in financial assistance committed by developed countries to developing countries.

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Achieving carbon neutrality: business in action

In the sub-forum of "Achieving Carbon Neutrality: Enterprises in Action", the guests discussed in depth: how enterprises should turn the challenge of carbon neutrality into opportunities, how to promote enterprises' voluntary emission reduction by improving market rules and mechanisms, and how enterprises can establish carbon neutrality balance sheet and other related issues.

Liu Qiao, Dean of Guanghua School of Management, said in her speech that carbon neutrality is not a purely technical issue, but a very profound economic and management issue. He believes that carbon neutrality may be a change in the form of a new civilization, requiring a lot of infrastructure investment, and fiscal policy should play a more active role in it. Some long-term government bonds and "carbon-neutral" government bonds with a maturity of 30 to 40 years can be issued, and a large number of them can be invested in the node fields and node industries that we believe to achieve carbon neutrality. In addition, green finance, green bonds, and green credit, including PE and VC, should more actively promote technology investments related to carbon neutrality.

Zhang Jianqiu, Executive President of Yili Group, shared three points of Yili’s experience on how to implement the dual-carbon goal: “Leading green development with green concepts, leading green development with green management, and achieving green development with green actions”; Only by taking the road of green development can we achieve the goal of everlasting green mountains, evergreen industries and everlasting golden mountains.

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To achieve carbon neutrality, Zhonghuan is in action

The relevant voices conveyed by this Boao Forum for Asia, from the firm support among Asian countries to the actions and deployment of the Chinese government, make us feel that it is imperative to realize the double carbon. At the same time, we have also seen that many companies are striving to achieve beneficial practices in carbon reduction through "industrial structure optimization" and "technical progress".

As a comprehensive environmental protection industry group company with carbon neutral technology development as the core, Zhonghuan International Group has a duty to achieve carbon neutrality. Zhonghuan has been taking action.

Focus on negative carbon emission basic industries

Relying on the technical support of the top scientific research institutes in the industry, including the "Institute of Geophysics of the Chinese Academy of Sciences, the Institute of Applied Technology of the Chinese Academy of Sciences, the Institute of Nonferrous Metals of the Chinese Academy of Sciences, and the Durr Chemical Research Institute of the United States", Zhonghuan International has formed a self-developed brand [CarNeuTEC™] The core carbon-neutral technology-related industrial chain involves nearly 20 fields such as investment in carbon-neutral demonstration industrial parks, comprehensive utilization of waste rubber and plastics, coal mine development and exploration, alkali slag treatment, rare earth alloys, carbon neutrality, and Sino-Saudi cooperation. With the continuous promotion of negative carbon projects, it will contribute to the strength of Zhonghuan and promote the green and low-carbon transformation and upgrading of the environmental protection industry.

Focus on carbon asset development and management

      At the same time, Zhonghuan International has also been focusing on the development and management of carbon assets. From 2021 to 2022, Zhonghuan International will have in-depth dialogues with Ernst & Young (China), an important strategic partner, and have reached strategic cooperation. It will also give full play to the professional value of Ernst & Young, assist Zhonghuan International in the promotion of carbon assets and carbon trading related business matters, and explore a broader carbon business map.

Some graphic sources | Boao Forum for Asia official website

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