Zhang Bo, Chairman and CEO of Weiqiao Pionneering Group, unveiled the group’s carbon neutrality goals and action plan with detailed decarbonization measures during the Third Qingdao Multinational Summit. We will strive to peak carbon emissions before 2025 and and achieve net-zero emissions in Scope 1 and 2 before 2055.
Weiqiao’s transition towards a low-carbon future and a sustainable development model is in line with China’s pledge to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, an ambitious goal announced by President Xi Jinping in September 2020.
China started its rapid low-carbon transformation ever since. Weiqiao has been committed from the very beginning by proactively developing a roadmap towards carbon neutrality through experiments and practices.
In the past months, we collaborated with Roland Berger, a globally renowned consulting company, to outline our carbon neutrality strategy.
After conducting comprehensive internal review and calculation, and with pragmatic and rigorous spirits, Weiqiao has come up with ambitious goals to peak carbon emissions and reach carbon neutrality five years earlier than the national “30/60” decarbonization goals.
Weiqiao will take three steps towards carbon neutrality: the Initial Decarbonization Phase from 2020 to 2030, the Continuous Decarbonization Phase from 2030 to 2040, and the Deep Decarbonization Phase from 2040 to 2055.
As planned, by 2055 the carbon intensity of primary aluminum will have dropped to approximately zero with the share of renewable electricity increased to 90%.
We will embed this low-carbon strategy into business transition, operational transition, and organizational and social impact transition. Key decarbonization measures include optimizing energy structure, developing circular economy, integrating downstream processing, improving operational efficiency, boosting technological innovation, and deploying negative emission technologies, among many others.
A world leader in the aluminum sector, Weiqiao has also introduced two green and low-carbon aluminum brands: HQALight for the low-carbon primary aluminum products utilizing hydropower and other renewable energy sources, and HQALoop for the recycled aluminum products.
As the global leader in textile and aluminum, Weiqiao pushes forward this strategy not only to achieve our own green and sustainable development, but will also impact the entire industrial chain, establish leadership on climate resilience. We will deeply engage all the industry partners to contribute to the decarbonization efforts and pursue low-carbon development toward a greener and more sustainable future.
(Weiqiao Pioneering Group Carbon Neutrality Goals and Action Report)
(Weiqiao’s green and low-carbon aluminum brands HQALight and HQALoop)
