XI'AN, China, Dec. 6, 2022 /PRNewswire/ -- The 27th United Nations Climate Change Conference (COP27) was held in Sharm EI Sheikh, a coastal city in Egypt, from November 6 to 18 amid significant global attention. Li Wenxue, Vice President of LONGi, virtually attended a sideline meeting themed "Green Finance and Chinese Industries Tackling Climate Change" on November 12 and released the 2^nd White Paper on Climate Action to the world.

"Climate change is a common challenge, and it is related to the sustainable development of all humankind," Li Wenxue said in his speech, adding that the current state of global climate change has changed from a future challenge to an immediate crisis. According to the Intergovernmental Panel on Climate Change (IPCC) report, in order to achieve the goal of limiting global warming to 1.5 degrees Celsius, global greenhouse gas emissions need to reach a peak in 2025 and reduce by nearly half in 2030. Urgent actions are required to prevent the severe climate impacts caused by global warming by promoting a green, low-carbon transition through aggressive emission reduction measures.

Li Wenxue stressed that in the face of the crisis brought about by climate change, replacing traditional energy with renewable energy is a key step in the green and low-carbon transformation.

As per predictions, by 2030, the annual new photovoltaic installed capacity in the world will need to reach 1,500-2,000GW to form an effective support for the global energy transformation, thus laying the foundation for achieving global net zero emissions, which will be 10 times the new installed capacity of global photovoltaic in 2021.

The green low carbon transformation will create a huge green market, which will serve as a fresh impetus for green development.

As a globally leading energy technology company, LONGi firmly believes that technological innovation can help humankind achieve carbon neutrality at a rapidly declining cost.

Since 2021, LONGi has broken the world record for the conversion efficiency of photovoltaic cells for 11 consecutive times, while firmly pursuing the innovative solution of "Green electricity +Green hydrogen". LONGi is always committed to becoming an advocate, practitioner and leader of sustainable development in the field of global clean energy, making positive contributions to global green low-carbon development and realizing a zero-carbon future.

The report released by LONGi is the 2^nd White Paper on Climate Action since the company's participation in the United Nations Climate Conference last year. In 2021, LONGi established a greenhouse gas emission accounting system covering the entire value chain of the company (Scope I, II and III). It has actively implemented RE100 and used 3,096 million kWh of green power throughout the year, accounting for more than 40.19% of total power consumption, which is equivalent to dodging 1.68 million tons of carbon dioxide emissions, including more than 160,000 tons of emission reductions through energy conservation and consumption reduction.

While LONGi continues to meet the rapidly increasing global demand for photovoltaic capacity, its carbon emission intensity has been further reduced. The greenhouse gas emissions per unit revenue in 2021 are 20.7% lower than those in 2020, laying the foundation for the gradual decoupling of capacity growth and carbon emissions. It is reported that the report received technical support from The Carbon Trust, an international independent consulting agency, and comprehensively demonstrated the firm commitment and practical action of LONGi as a leading enterprise in the photovoltaic industry in dealing with global climate change.

In terms of implementing corporate climate action, both the management and grassroots employees of LONGi are ambitious and pragmatic. In 2018, LONGi took the lead in proposing the concept of "Solar for Solar" at the 24th United Nations Climate Change Conference. In 2020, LONGi became the only Chinese enterprise to join the four climate initiatives, namely, RE100, EP100, EV100 and SBTi at the same time. In 2021, LONGi kicked off the construction of the first "Zero Carbon Factory" in the photovoltaic industry and established its hydrogen energy equipment manufacturing division. In 2022, LONGi released the "Supply Chain Green Partner Empowerment Plan", actively responding to the requirements of the national "Double Carbon" goals, and working with partners to continue to promote the goal of energy conservation and emission reduction.

During the past year, LONGi has steadily promoted climate action, established a greenhouse gas emission accounting system covering the company's entire value chain (Scope I, II and III) and accelerated the construction of a sustainable development and ESG management system, actively used a high proportion of green power, continuously improved energy efficiency, reduced carbon emission intensity in products, and laid a solid foundation for achieving gradual decoupling of capacity growth and carbon emissions.

At present, the world is facing multiple challenges such as geopolitical conflicts, the COVID-19 pandemic and instability in the supply chain. While some countries have wavered from their climate change policies, China has continued to attach great importance to tackling climate change and unswervingly followed the path of green development.

"LONGi also firmly believes that tackling climate change and achieving net zero emissions is a global consensus, and is willing to work with partners from all sides to take joint action to accelerate the transformation of clean energy and low-carbon green development. We will actively contribute to the innovation of green energy technology enterprises, and help China and the world move towards a zero carbon future," Li Wenxue said in his speech.

The United Nations Global Compact (UNGC), the Energy Transformation Commission (ETC), the China New Energy Chamber of Commerce (CNECC), the World Business Council for Sustainable Development (WBCSD) and other international organizations, as well as some representatives of LONGi's partners and customers took part and supported the release of LONGi's 2022 White Paper on Climate Action.

As a leading solar technology company in the world, LONGi, along with Vanke Foundation and China Corporate Climate Action (CCCA), launched an enterprise-themed exhibition hall in the Green Zone of the COP27 conference and displayed its most recent generation of Hi-MO 6 series modules.

About LONGi

Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com