GlobalData offers a comprehensive analysis of Concord New Energy Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Concord New Energy Group’s ESG performance. GlobalData’s company profile on Concord New Energy Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Concord New Energy Group, a leading renewable energy company has committed to achieve a cumulative greenhouse gas emission reduction of 65,000 kilotons by generating and providing green electricity to society by 2024. The company has specific goals related to scope 1, scope 2, and scope 3 emissions. The company's GHG emissions data is presented in carbon dioxide equivalent and calculated based on the Baseline Emission Factors for Regional Power Grids in China for CDM and CCER Projects issued by the Ministry of Ecology and Environment of the People's Republic of China, and the 2006 IPCC Guidelines for National Greenhouse Gas Inventories (2019 Edition) issued by the Intergovernmental Panel on Climate Change (IPCC). Concord New Energy Group’s latest filings mentioned the keywords ‘Clean Energy’ and ‘Carbon’ most number of times in relation to ‘Climate Change’.
In 2022, the company’s Scope 1 emissions amounted to 1,646.9 tonnes of carbon dioxide equivalent and Scope 2 emissions amounted to 7,605.1 tonnes of carbon dioxide equivalent. Further, the company achieved 7,092 kilotons of reduction in CO2 emission and saved 10,864 kilotons of water in 2022. Also, the GHG emission intensity declined from 2.12 in 2020 to 1.77 in 2022.
The company has taken steps to reduce emissions and achieve its net-zero targets, including implementing policies related to climate change, ecological and environmental protection, and energy efficiency. The company has also invested in projects to reduce emissions. In 2022, the company focused on hazardous waste management and noise control and optimized the management process and reduced the impact of emissions on the surrounding environment and residents. The company also focuses on soil and water conservation measures in the design of major projects such as roads and platforms and adopts refined design to clarify the specific practices and bill of quantities for each construction site. Further, while designing wind farms, the company opts for large-capacity wind turbines to reduce the number of wind turbines in the farms to reduce the amount of engineering and the soil disturbance.
In conclusion, Concord New Energy Group continues to actively identify, assess and manage the impact of climate change-related physical and transition risks for their operations and businesses. The company has formulated and published the Climate Change Policy to respond to the concerns of internal and external stakeholders, and actively enhances the disclosure of climate related information in terms of strategy, governance, risk management, indicators and objectives, taking the TCFD recommendations into account.
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