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BEIJING / WAM
China’s power enterprises have accelerated the pace of green investment this year, with the completed investments in clean energy projects up by 6.64 percent year-on-year to reach CN¥117.3 billion ($16.5 billion) in the first quarter, according to the China Electricity Council.
According to China Central Television (CCTV), during the first quarter, the magnitude of clean energy projects currently under construction in the nation surged to 512.05 gigawatts (GW), reflecting a notable year-on-year growth of 30.97 percent, as stated by the council.
In April, State Power Investment Corporation, a top Chinese power generator, initiated the construction of over 200 energy projects, with an installed capacity exceeding 80 GW. Among them, the proportion of clean energy projects exceeds 90 percent. Apart from the increase in green investment, China’s power enterprises have been improving the ESG (Environmental, Social, and Governance) management level, according to a report recently released by the council. An ESG rating measures environmental and social impact and the effectiveness of corporate governance in managing the related issues.
“Nearly 90 percent of the listed power companies have issued ESG-related reports, with both the quantity and quality of information disclosure witnessing significant growth. At present, enhancing service innovation, promoting ecological and environmental protection, supporting rural revitalisation, and participating in the Belt and Road Initiative have become social responsibilities of power enterprises,” said Hao Yingjie, Secretary-General of the Council.