China’s power enterprises have accelerated the pace of green investment this year. According to the China Electricity Council, the completed investments in clean energy projects reached CN¥117.3 billion ($16.5 billion) in the first quarter of 2024, up 6.64 percent year-over-year (YoY).
The council also reported that the magnitude of clean energy projects currently under construction in China surged to 512.05 gigawatts (GW) during the first quarter, reflecting a notable 30.97 percent YoY growth.
In April 2024, State Power Investment Corporation, a major Chinese power generator, initiated the construction of over 200 energy projects with an installed capacity exceeding 80 GW. More than 90 percent of these new projects are clean energy projects.
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Beyond the increase in green investment, China’s power enterprises have also been improving their ESG (Environmental, Social, and Governance) management level, according to a recent report by the China Electricity Council. ESG ratings measure a company’s environmental and social impact, as well as the effectiveness of its corporate governance.
The council’s Secretary-General, Hao Yingjie, stated that nearly 90 percent of listed power companies in China have now issued ESG-related reports, with significant growth in both the quantity and quality of information disclosure. Enhancing service innovation, promoting ecological and environmental protection, supporting rural revitalization, and participating in the Belt and Road Initiative have become the social responsibilities of power enterprises in China.
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