A股化肥企业过半无ESG信披，农业非碳减排需“双管齐下”

Core Viewpoint - China aims to reduce greenhouse gas emissions by 7%-10% from peak levels by 2035, highlighting the increasing importance of non-CO2 greenhouse gas reductions, particularly nitrous oxide emissions from agriculture [1] Group 1: Nitrous Oxide Emissions and Agriculture - Agricultural activities account for 75% of global anthropogenic nitrous oxide emissions, with fertilizer application and manure management contributing 90% of this total [1] - China, as the largest producer and consumer of nitrogen fertilizers, is responsible for 33% of the country's nitrous oxide emissions [1] - The average nitrogen fertilizer utilization rate in China is approximately 28%-41%, leading to environmental issues such as soil acidification and water eutrophication [1][2] Group 2: Strategies for Emission Reduction - To achieve nitrous oxide reduction, China needs to implement strategies on both the production and consumption sides while ensuring food security [2] - The nitrogen fertilizer industry is energy-intensive, relying heavily on fossil fuels, with 79.59% of ammonia production sourced from coal, significantly higher than the global average of 22% [2] - Recommendations include optimizing energy structure, improving energy efficiency, and developing green ammonia technologies in the production sector [3] Group 3: Policy and Management Recommendations - A comprehensive policy framework and management mechanisms are necessary to guide the nitrogen fertilizer industry's low-carbon development [3] - The "4R" strategy (Right Source, Right Rate, Right Time, Right Place) should be promoted to optimize nitrogen fertilizer management and reduce waste and emissions [3] - Nitrogen fertilizer companies should prepare for future carbon constraints and engage in carbon footprint management and low-carbon technology development [4] Group 4: Industry ESG Reporting - Among 62 listed fertilizer and agrochemical companies in A-shares, 28 have disclosed their 2024 ESG reports, resulting in a disclosure rate of 45.16% [4] - Only 19 companies have achieved an ESG rating of A or above, with most rated at BB level, indicating a need for improvement in sustainability practices [4] - Companies are encouraged to establish monitoring systems for nitrous oxide emissions and engage in lifecycle carbon footprint assessments to support downstream agricultural sectors [4]