Recently, the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change concluded in Dubai, United Arab Emirates. This conference marked the first global stocktake of the Paris Agreement, addressing carbon emission reduction and the path for global energy transition. This event, pivotal for national interests and future industrial development, drew worldwide attention. Over 70,000 participants including government leaders, negotiators, activists, and entrepreneurs from 167 countries and regions gathered in Dubai Expo City to strengthen consensus and implement actions towards global green development goals. Hengtong was invited to participate in COP28, discussing sustainable development plans with government officials, entrepreneurs, and NGO leaders from various countries.
Calling for Global Supply Chain Cooperation to Accelerate Climate Change Response At a side event in the Blue Zone's "China Corner," Xu Qiang, General Manager of Hengtong's International High-Voltage Submarine Cable Division, delivered a speech titled "Strengthening the Global Supply Chain System to Promote Offshore Wind Power Integration." Drawing on Hengtong's domestic and international experience and innovative cases in offshore wind power construction, he called for enhanced supply chain cooperation and joint efforts in accelerating energy transition.
The side event, co-hosted by the Chinese Renewable Energy Society, the National Energy Transformation Alliance (in preparation), and the Belt and Road Green Development International Alliance, brought together experts in renewable energy, construction, transportation, and industry, along with representatives from governments, international organizations, research institutions, and businesses. They explored global energy transformation trends and China's latest practices in energy transformation. Participants included Sun Zhen, Deputy Director of the Climate Department of China's Ministry of Ecology and Environment, An Fengquan, Deputy Director of the International Department of the National Energy Administration, and representatives from the Global Wind Energy Council, the Dutch Climate and Development Fund, the Danish Energy Agency, and other departments, institutions, and companies.
At a roundtable meeting, Xu Qiang shared Hengtong's global first semi-submersible offshore wind power project - the "Portuguese Offshore Wind Power Project" power output engineering case study.
As early as 2018, Hengtong successfully won the bid for the "Portuguese Offshore Wind Power Project (WINDFLOAT ATLANTIC)" power output engineering. This project was the world's first and, at that time, the largest semi-submersible offshore wind power project. Hengtong was the first Chinese company to win a bid in this field. During construction, Hengtong collaborated with companies from Portugal, Germany, France, the UK, and other countries, forming a comprehensive international supply chain system. Working in coordination with engineers from over ten countries, they overcame pandemic challenges and achieved grid-connected power generation in 2020, reducing carbon emissions by 33,000 tons annually and meeting the electricity needs of 60,000 European households. This project became a classic example of humanity's stride towards exploiting renewable energy in the deep sea and overcoming major global public health events.
Xu Qiang emphasized that only by strengthening supply chain cooperation can countries complement each other's advantages and collectively address the challenges of climate change. Particularly in offshore wind power, the Portuguese Offshore Wind Power Project serves as an excellent case, where global division of labor combined with localized services not only helps the host country overcome industry barriers as a latecomer but also rapidly establishes green production capacities to swiftly respond to climate change.
Focusing on Sustainable Development, Contributing to the "Global Stocktake"
COP28 marked the first "Global Stocktake" of climate action progress since the signing of the Paris Agreement, assessing the progress in implementing the agreement and the overall gap in achieving its goals.
Hengtong actively responded to China's "3060 Dual Carbon Target" and aligned with the European Green Deal's 2050 goal of becoming the world's first carbon-neutral continent. Hengtong set its targets to "peak carbon emissions by 2028 and achieve carbon neutrality by 2045," aiming to reduce energy consumption per 10,000 yuan of output by 40% and carbon dioxide emissions per 10,000 yuan of output by 50% by 2028, compared to 2020.
In 2020, Hengtong released a bilingual "Circular Economy Manual." In 2021 and 2022, it published ESG reports twice, summarizing and announcing achievements and goals in climate change risk identification, energy management, water resource management, emission management, and circular economy. In recent years, Hengtong's greenhouse gas emissions, water consumption, and waste emissions intensity have all decreased annually. In 2022, Hengtong's carbon emission intensity in photovoltaics decreased by 30% year-on-year, and green electricity accounted for over 35% of its total energy consumption. To date, seven Hengtong subsidiaries have been recognized as "National Green Factories," five as "National Green Supply Chain Management Enterprises," and three as "Industrial Product Green Design Demonstration Enterprises." Additionally, 13 products have been recognized as national green design products. Hengtong's independently developed digitalized energy management platform, new-generation green optical fiber materials, and aluminum alloy energy-saving transmission lines also contribute positively to its own and the industrial chain's low-carbon development.
Focusing on global offshore wind power, photovoltaic power generation, and wind-solar-storage charging in the new energy sector, Hengtong has continuously broken records in projects such as the Vietnam Offshore Wind Power Project, the Red Sea Project, the Moroccan Solar Thermal Power Station Project, and the Indonesia Cirata Floating Photovoltaic Power Project, making positive contributions to local and global low-carbon transformation and building a green "Belt and Road."
In 2023, Hengtong High Voltage also joined the "Science Based Targets initiative (SBTi)," demonstrating its determination to further shoulder international responsibilities in low-carbon transformation.
It's worth mentioning that Hengtong has also contributed to the green development of the UAE, the host country of COP28. Hengtong participated in the "Dubai Mohammed bin Rashid Al Maktoum Solar Park Phase V Photovoltaic Solar Power Station Project," the largest single photovoltaic power station in Dubai and a representative project in the Middle East using advanced solar photovoltaic power generation technology. This project annually provides approximately 2.268 billion kWh of electricity to the local area, reducing carbon emissions by 1.18 million tons and supplying clean electricity to 270,000 local households.
Joining GWEC, Promoting Global Clean Energy Transformation During the event, Xu Qiang met and exchanged ideas with Mr. Ben Backwel, CEO of the Global Wind Energy Council (GWEC). Hengtong Optoelectronics joined the association as a Global Partner.
Established in early 2005, GWEC aims to promote wind energy as a major global renewable energy source and has significant influence worldwide. The association has gathered over 1500 wind power manufacturing companies, related organizations, and research institutes from over 80 countries. Wind energy industry trade associations from major economies like the USA, Europe, India, and China are members of GWEC.
Wind energy is increasingly valued in the global response to climate change. According to the latest global stocktake draft released at COP28, to achieve the Paris Agreement's goal of keeping global warming within 1.5 degrees Celsius, global greenhouse gas emissions must peak before 2025 and reduce by 43% by 2030 and 60% by 2035 based on 2019 levels, achieving net-zero carbon emissions by 2050.
Joining GWEC marks another step and commitment by Hengtong in promoting global energy transformation, responding to climate change, and sustainable development.
During the two-week COP28 event, Hengtong also actively participated in the main venue and various side events of more than ten countries. Hengtong held talks with high-ranking officials such as the Minister of Economy and the Sea, the Secretary of State for Maritime Affairs, the Secretary of State for Energy and Climate of Portugal, the Australian Minister for Climate and Energy, the Chairman and CEO of the Renewable Energy Agency, and representatives from international renewable energy organizations, the World Resources Institute, and the Chinese Energy Research Society.