Boosting renewable energy growth through responsible value chains: A case study from China

The report highlights that over half of carbon emissions in the renewable energy sector originate from upstream activities, such as raw material procurement and equipment manufacturing. It argues that for China to meet its 2060 carbon neutrality target, renewable energy companies must implement responsible value chain strategies, including measuring Scope 3 emissions, collaborating with suppliers to decarbonize, and transitioning to 100% renewable energy. The document profiles JinkoSolar and Sunwoda as examples of companies integrating science-based targets and lifecycle carbon reduction strategies to drive sustainability in the photovoltaic and battery sectors.

• More than 50% of carbon emissions within the renewable energy value chain are generated during upstream stages, specifically through raw material procurement, processing, and equipment manufacturing, which are characterized by high energy consumption and a reliance on non-renewable energy.
• China's renewable energy capacity reached 1.45 terawatts by the end of 2023, marking the first time it surpassed the installed capacity of thermal power. However, China remains a top emitter, with 2023 emissions totaling 12.6 gigatons, or 35% of the global total.
• To achieve net-zero emissions, the World Economic Forum's working group recommends three primary actions for renewable energy companies: measuring and reporting Scope 3 emissions using standards like the GHG Protocol, engaging suppliers through training and incentive mechanisms to decarbonize, and transitioning to 100% renewable energy via wind, solar, and renewable energy certificates.
• JinkoSolar is the first company in the global photovoltaic sector to have its short-term, long-term, and net-zero emission reduction targets validated by the Science Based Targets initiative (SBTi). The company aims for full renewable energy adoption by 2030 and a 58.2% reduction in emissions from purchased goods and services per megawatt of solar products by 2032.
• Sunwoda has aligned its sustainability strategy with China's dual-carbon goals, targeting a carbon peak by 2029 and operational neutrality by 2050. The company intends to reduce societal carbon emissions by 6.84 million tons by 2030 and 42.37 million tons in transportation by 2040 through battery recycling and lifecycle carbon reduction.

APA

Xun, V. L. Z. (2024). Boosting renewable energy growth through responsible value chains: A case study from China. World Economic Forum. https://www.weforum.org/stories/energy-transition/renewable-energy-responsible-value-chains-china/

Chicago

Xun, Vee Li, Zhang. Boosting renewable energy growth through responsible value chains: A case study from China. World Economic Forum, 2024. https://www.weforum.org/stories/energy-transition/renewable-energy-responsible-value-chains-china/.

Wikipedia

{{cite report |last1=Xun |first1=Vee Li, Zhang |title=Boosting renewable energy growth through responsible value chains: A case study from China |publisher=World Economic Forum |date=13 May 2024 |url=https://www.weforum.org/stories/energy-transition/renewable-energy-responsible-value-chains-china/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{xun2024boosting, author = {Xun, Vee Li, Zhang}, title = {{Boosting renewable energy growth through responsible value chains: A case study from China}}, institution = {World Economic Forum}, year = {2024}, month = may, url = {https://www.weforum.org/stories/energy-transition/renewable-energy-responsible-value-chains-china/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }