China has taken multiple measures to accelerate the process of decarbonization

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China's approach to decarbonization has attracted the attention of many think tanks. New energy storage will become an important part of the new power system. According to the research of China Electric Power Research Institute, the ecology of the mainland energy storage industry has been initially formed, and the family of new energy storage technologies has been growing, and the trend of diversified development is obvious. According to the research of the National Association of Financial Market Institutional Investors of China, with the emergence of diversified investment tools such as green funds, green wealth management and green insurance, the investment market ecosystem of environmental protection, social responsibility and corporate governance (ESG) with Chinese characteristics is rapidly being cultivated. Tsinghua University used the location of truck operations (all areas in transit) as the dimension of carbon emission estimation and statistics, and conducted a study and analysis of the carbon emission trend of heavy-duty trucks.

China Electric Power Research Institute:

China's new energy storage diversification is booming

According to the "Research Report on New Energy Storage Technology and Application (2023)" (hereinafter referred to as the "Report") released by China Electric Power Research Institute on April 30. At this stage, the diversification of new energy storage is booming, and opportunities and challenges coexist.

The report shows that the ecology of the energy storage industry in mainland China has been initially formed, and the family of new energy storage technologies is growing, and the trend of diversified development is obvious. Among them, lithium-ion battery technology is at the international leading level, with the highest degree of industrialization, and is in the stage of large-scale application; Technologies such as all-vanadium flow batteries, compressed air energy storage, and flywheel energy storage are at the international leading or follow-up level, and are in the transition stage from large-capacity demonstration applications to the early stage of commercialization. The sodium-ion battery energy storage technology is at the international leading level, and the technology as a whole is in the engineering demonstration stage.

There are various routes for new energy storage technologies, with different maturity and economy. The lithium-ion battery energy storage technology standard system and application management system are becoming more and more perfect, and the controllable and safe application is also gradually improving, and the electricity cost is expected to reach 0.15 yuan/kWh in 2030; Sodium-ion batteries are currently in the stage of small-scale demonstration application, and the LCOE is expected to be close to 0.10 yuan/kWh after large-scale application. Flow battery and compressed air energy storage is one of the options for large-capacity energy storage technology, which is in the demonstration application stage of 100 megawatt projects, and the cost of electricity is expected to be close to pumped storage around 2030, reaching 0.25 yuan/kWh to 0.3 yuan/kWh.

Continental has gradually built a new energy storage technology standard system to basically meet the large-scale application of new energy storage. In the future, it is necessary to further strengthen the formulation and implementation of technical standards and specifications for the whole energy storage industry chain, establish and improve the safety and quality management system for the whole life cycle of energy storage power stations, and establish and improve the new energy storage safety management and emergency response mechanism.

The new energy storage will become an important part of the new power system, and its main function is to "ensure safety, supply, and consumption", and the positioning of each stage is different. Strengthen the innovation of new energy storage technology, and promote the rapid, high-quality and safe development of new energy storage technology from basic theory, ontology manufacturing, system integration to engineering application.

National Association of Financial Market Institutional Investors (NAFMII):

ESG investment market with Chinese characteristics

The ecosystem is being cultivated at a rapid pace

As one of the five major articles on building a financial power, green finance carries the important mission of promoting high-quality economic development and can provide green momentum for new quality productivity. In 2023, a total of 472 green bonds will be issued in mainland China, with a total amount of 828.3 billion yuan, maintaining a leading position in the world and guiding the continuous flow of financial "living water" to green and low-carbon fields.

The National Association of Financial Market Institutional Investors (NAFMII) organized market members to review the development of the domestic and overseas green bond markets in 2023, and recently released the 2023 China Green Bond Market Development Report (hereinafter referred to as the "Report") to show the development trend of the green bond market in an all-round way.

According to the report, in 2023, many important international climate-related conferences will be held, and sustainable development has become a global consensus. In China, from the report of the 20th National Congress of the Communist Party of China to the Central Financial Work Conference, to a series of policies on green finance by relevant ministries and commissions, the "1+N" policy system for carbon peak and carbon neutrality has been basically established, and the top-level design of green finance has been continuously improved.

According to the data, the scale of global green bond issuance in 2023 will be about US$587.32 billion, reversing the downward trend in 2022.

At the same time, with the emergence of diversified investment tools such as green funds, green wealth management and green insurance, the environmental protection, social responsibility and corporate governance (ESG) investment market ecosystem with Chinese characteristics is rapidly being cultivated.

According to the report, innovative products at home and abroad continue to develop in depth, typical cases continue to emerge, and the application scenarios of green financial products continue to be enriched, empowering the green development of the real economy.

Tsinghua University and other institutions:

The rollout of clean energy vehicles will further reduce carbon emissions

Tsinghua University and CCCC Xinglu jointly released the "China Road Freight Big Data Carbon Emission Report" (hereinafter referred to as the "Report") in early May. The report found that the carbon emissions of heavy-duty trucks show the following four trends, including the promotion of clean energy vehicles will further reduce carbon emissions.

In the past three years, the carbon emissions of trucks have generally shown a trend of first increasing and then stabilizing. From 2018 to 2023, the annual carbon emissions of heavy trucks will generally show a trend of first rising and then stabilizing, with a total of about 133 million tons, 164 million tons, 196 million tons, 232 million tons, 215 million tons and 223 million tons respectively. From 2018 to 2021, the average annual growth rate of annual carbon emissions of heavy trucks was 20.5%, which was in the rapid growth range; This trend reversed in 2022, with carbon emissions from heavy-duty trucks declining before rebounding slightly in 2023.

Truck carbon emissions show strong seasonal variations. For example, most of the peak carbon emission periods occur in the second half of the year, especially around November, and various e-commerce festivals stimulate consumption growth while further driving the vitality of the freight industry; From January to February every year, due to the Lunar New Year, the country's production activities are at a low point, and the carbon emissions of trucks are also in a low state.

Truck carbon emissions are susceptible to factors such as regional industrial structure and policies. The analysis found that the trend of truck carbon emissions in each city is consistent with the overall national trend, but it is also closely related to the local industrial structure, environmental protection policies, and the new crown epidemic. On the whole, the change in the trend of domestic truck carbon emissions reflects the comprehensive impact of economic activities, policy regulation and external factors.

The implementation of China VI emission standards for automobiles and the promotion of clean energy vehicles will further reduce carbon emissions. For example, industrial concentration zones and important transportation hubs such as North China, the Bohai Rim region, the Yangtze River Delta region, the Pearl River Delta region and Chongqing Municipality have high emissions. With the implementation of China VI emission standards for automobiles and the promotion and application of new energy vehicles, the growth of carbon emissions from trucks will be further controlled.