北京不断优化能源结构，目前绿电占全社会用电量达29.3%，比2020年提高13个百分点，能源消费基本 实现无煤化。交通出行更加绿色，北京新能源汽车保有量超100万辆，城市轨道交通运营总里程达到879 公里，今年上半年中心城区绿色出行比例达到75.7%。 （文章来源：人民日报） 本报北京8月16日电 （记者王昊男）记者日前从北京市发展改革委了解到：今年上半年，北京的细颗粒 物平均浓度28.5微克/立方米、同比下降17.4%，达到历史同期最优水平。党的十八大以来，北京牢固树 立和践行"两山"理念，坚定不移走生态优先、绿色发展之路，细颗粒物年均浓度由2013年的89.5微克/立 方米下降至2024年的30.5微克/立方米、降幅达到66%，大气4项主要污染物持续稳定达到国家空气质量 二级标准。 在水生态方面，北京动态消除劣Ⅴ类水体和城市建成区黑臭水体，平原地区地下水位连续9年回升，永 定河等五大河流全线贯通入海，形成了一批"水秀而可近、岸绿且可亲"的绿色滨水景观。2012年以来， 北京连续实施两轮百万亩造林工程，累计新增造林绿化面积超1600平方公里，森林覆盖率从38.6%提高 到44.95%。全市公园数量达到110 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company is a leader in energy and power construction, actively implementing the "Two Mountains" concept, focusing on green transformation and value reassessment [1] - The company has shown resilience with steady growth in orders and performance, outperforming other state-owned construction enterprises [3] - The company is advancing a new "Energy+" development model, integrating various energy sources and enhancing its data center infrastructure [2] Summary by Sections Company Overview - China Energy Construction (601868.SH) is positioned as a leader in energy and power construction, emphasizing green initiatives and technological innovation in traditional and renewable energy sectors [1] - The company has integrated resources across multiple energy types, achieving a 60% year-on-year increase in new energy capacity, totaling 15.2 GW by the end of 2024 [1] Financial Performance - The company expects steady revenue growth, with projected revenues of 436.7 billion yuan in 2024, up 7.6% year-on-year, and a net profit of 8.4 billion yuan, reflecting a 5.1% increase [4] - Earnings per share (EPS) are projected to grow from 0.19 yuan in 2023 to 0.26 yuan by 2027 [4] Market Position and Strategy - The company is enhancing its market position through strategic acquisitions and a focus on integrated operations in the data center sector, which is expected to be a new growth driver [2] - The company has implemented a detailed market value management plan, including increased dividends and share buybacks, to boost its valuation [2] Order and Contract Growth - New contract values have shown a steady increase, with a 10% year-on-year growth in 2024 and a 5% increase in Q1 2025 [3] - The company's order structure is improving, with the proportion of power engineering contracts rising from 45% at the end of 2021 to 66% by H1 2025 [3]

Core Viewpoint - China continues to contribute wisdom and strength to global ecological protection through its ecological civilization construction practices and concepts, particularly the "Two Mountains" theory, which aligns with the global vision for green development [1][2]. Group 1: China's Ecological Initiatives - China is building the world's largest national park system, protecting numerous endangered species' habitats and vital water resources [2]. - The forest coverage rate in China is expected to reach over 25% by 2024, making it the fastest and largest country in the world in terms of "greening" efforts [2]. - China's goal is to establish a model that does not oppose economic development and ecological protection, viewing both as components of sustainable development [2]. Group 2: International Cooperation and Influence - The "Two Mountains" theory and China's practices are highly compatible with Brazil's ecological actions, particularly in the context of the Amazon rainforest protection [2]. - China has rich practical experience in ecological restoration, species protection, and green technology, which can serve as important references for Brazil [2]. - There is significant potential for cooperation between China and Brazil under the South-South cooperation framework, particularly in public policy, research collaboration, and community engagement [2]. Group 3: Multilateral Collaboration - As important forces in the Global South, China and Brazil can strengthen collaboration on multilateral platforms to address climate change and biodiversity protection [3].

昨日（8月15日），在"绿水青山就是金山银山"理念（以下简称"两山"理念）提出二十周年之际，上交 所发布中英文版本《贯彻"两山"理念 沪市ESG实践二十年》（以下简称《ESG实践》），向境内外市场 参与者系统介绍沪市二十年来ESG实践探索的阶段性进展，旨在引导市场参与各方继续积极参与、践行 可持续发展理念。 "两山"理念是我国生态文明建设的核心理念，是推进中国式现代化的重要指导思想。上交所积极贯 彻"两山"理念，充分发挥资本市场枢纽功能和平台作用，以ESG作为核心发力点，通过加大制度供给、 创新金融工具、提升服务质效等方式，引导上市公司、投资者等各类市场主体将更多资源投向绿色低碳 转型和承担社会责任领域，推动实现绿水青山和金山银山的双向转化。 《ESG实践》全面回顾沪市ESG二十年的实践发展，通过梳理沪市ESG大事记、收录代表性案例、总结 市场建设成果等方式，力图呈现沪市ESG实践视角下，"两山"理念对资本市场的深刻影响。一是时间线 完整覆盖。《ESG实践》以"大事记"形式，梳理政策脉络，勾勒发展轨迹，展现沪市ESG实践所经历的 萌芽起步、探索发展和深化提升三个阶段，系统记录政策破冰、制度构建到体系深化的实践 ...

"两山"理念提出20周年 习手记 三 学 思路一变天地宽。郁郁葱葱的森林、广袤无垠的草原、生机盎然的湿地……亿万年自然演化的杰作，承 载着特定生态功能和经济价值，需要秉持宜林则林、宜灌则灌、宜草则草、宜湿则湿、宜荒则荒、宜沙 则沙的治理理念和生态智慧。 就拿治沙来说，"既不能在不适宜的地方改造沙漠，也不能观望、畏手畏脚。有些沙漠改不好、改不 了，不要知其不可为而为之"。 因地制宜, 充分发挥当地资源环境优势 读懂"两山"理念的科学路径 2016年3月，习近平总书记参加十二届全国人大四次会议黑龙江代表团审议时首次提出："绿水青山是金 山银山，黑龙江的冰天雪地也是金山银山。" 9年时间，冰天雪地在新的发展思路中逐渐变为资源优势，由竞争短板锻为发展长板。源起于浙江安吉 的"两山"理念，让龙江大地的"冷冰雪"透着热乎劲儿，在冰天雪地中写下因地制宜的实践篇章。 2025年2月，习近平总书记在哈尔滨第九届亚冬会开幕式欢迎宴会上致辞时说："来到哈尔滨，我们真切 感受到'冰天雪地也是金山银山'"。 因地制宜、因城施策、因势利导，理论一旦与具体实际结合，就迸发出巨大的物质力量和精神力量。 早在1988年8月，习近平同志深入福建 ...

Core Viewpoint - The article emphasizes the integration of ecological sustainability and industrial development in the dairy industry, particularly through the practices of Mengniu Group, which has been a leader in promoting the "Two Mountains" concept over the past 20 years [1][14]. Group 1: Ecological Initiatives - Mengniu has transformed the Ulan Buh Desert into a green oasis by planting 98 million sand plants and greening over 220 square kilometers since 2009 [2]. - The company combines ecological restoration with industrial development, creating an organic milk industry chain that includes organic planting, breeding, and processing [4]. - Mengniu promotes ecological pasture construction nationwide, enhancing energy efficiency and implementing various ecological projects to establish green low-carbon pastures [6]. Group 2: Green Manufacturing - Mengniu's Wuhan factory features a wastewater treatment center that processes 5,000 tons daily, saving 70,000 tons of water annually and utilizing natural light and clean energy [8]. - The Ningxia factory is recognized as the world's first "lighthouse factory" for liquid milk, achieving a 43% reduction in energy consumption compared to traditional factories [10]. - Mengniu has established 37 national-level green factories across China, contributing to the country's dual carbon commitment through intelligent manufacturing and green innovations [10]. Group 3: Sustainable Supply Chain - Mengniu has initiated the procurement of "zero deforestation" soybeans, marking a significant step in sustainable sourcing [12]. - The company has implemented a forest protection policy to manage risks associated with wood, soybean, and palm oil products, aiming for zero deforestation by 2030 [12]. - Mengniu promotes a responsible industrial ecosystem by collaborating with partners to implement the "Two Mountains" concept throughout its supply chain [12]. Group 4: Global Outreach - Mengniu leverages its partnerships in global events like the Olympics to promote the "Two Mountains" concept and showcase China's achievements in ecological restoration [14]. - The company has launched various public welfare projects, such as the "Oasis Plan" and "Blue Planet," to advocate for sustainable development on an international stage [14]. - As the "national team" in the dairy industry, Mengniu aims to continue its commitment to ecological harmony and sustainable practices in the coming years [14].

Group 1 - The "Two Mountains" concept, proposed 20 years ago, has led China to achieve remarkable ecological and developmental miracles through innovative green practices, benefiting both China and the global community [1][2] - The concept breaks the binary opposition between economic growth and ecological protection, providing a new path for sustainable development that emphasizes harmony between humans and nature [2][3] - China's integration of the "Two Mountains" concept into various fields of ecological civilization construction has positioned the country as a leader in global sustainable development [2][4] Group 2 - The "Two Mountains" concept has been recognized by international organizations as a foundational element for sustainable development, highlighting that environmental protection is a cornerstone rather than a constraint [3][4] - China's achievements in reducing energy intensity and improving air quality, along with its extensive renewable energy industry, showcase the effectiveness of the "Two Mountains" concept in real-world applications [3][4] - The concept has inspired various countries, particularly in Africa, to adopt similar sustainable practices, demonstrating its global influence and applicability [5][6] Group 3 - The collaboration between China and Ethiopia in renewable energy and green transportation exemplifies the practical application of the "Two Mountains" concept, providing valuable experiences for other developing countries [6] - The "Two Mountains" concept serves as a theoretical framework and practical reference for developing countries seeking green transformation and sustainable development [5][6] - The ongoing cooperation between South Africa and China in clean energy and agricultural technology reflects the global reach and impact of the "Two Mountains" concept [6]

Core Concept - The transformation of rural areas in China, particularly exemplified by Yucun in Zhejiang, highlights the successful implementation of the "Two Mountains" theory, which emphasizes the balance between ecological preservation and economic development [1][2]. Group 1: Ecological and Economic Balance - The "Two Mountains" theory posits that protecting the environment ("green mountains") is as crucial as economic development ("golden mountains"), both aimed at benefiting the people [2][7]. - The shift from resource extraction to eco-tourism in Yucun demonstrates how a good environment can become a source of wealth for local communities [1][5]. - The emphasis on ecological protection has led to a change in public expectations, with citizens now prioritizing environmental quality alongside economic needs [2][6]. Group 2: Policy and Implementation - Since the 18th National Congress of the Communist Party, the principle that "environment is livelihood" has been a guiding policy, leading to various ecological restoration projects across China [4][5]. - Specific initiatives, such as the blue sky protection campaign and water pollution prevention plans, have been implemented to improve the quality of life for citizens [5][6]. - The focus on local ecological issues reflects the government's commitment to providing equitable ecological benefits to the populace [6][7]. Group 3: Historical Context and Leadership - Historical experiences, such as Xi Jinping's reflections on his youth in Shaanxi, underscore the long-standing recognition of the relationship between humans and nature [3][6]. - Xi Jinping's leadership has been pivotal in promoting sustainable development practices that integrate ecological health with economic prosperity [6][7]. - The success stories from various regions, like the transformation of military village in Xiamen and the ecological restoration in Hebei, illustrate the practical application of these principles [6].

2025年是 "绿水青山就是金山银山"理念 （以下简称 "两山"理念 ）提出20周年，也是 "十四五"规划 收官 之年。20年来，特别是党的十八大以来，我国生态文明建设迈出坚实步伐，取得举世瞩目的成就。 中国邮政储蓄银行以 "两山"理念 为指引，积极推进绿色银行建设，大力发展绿色金融，为建设美丽中国 贡献金融力量。 一组系列海报 带您感受 "两山"理念 科学指引下的 美丽生态画卷 ↓↓↓ "十四五"期间,我国新能源 发电装机规模首次超过煤电 建 成了全球最大清洁发电体系, 每 消费3度电就有超过1度是绿电 截至2025年6月底 "绿水青山就是金山银山" 理念提出20年来,已深入人心。 邮储银行做好绿色金融大文章,为国土绿化、生态修复等提供金融 支持。邮储银行漳州市分行成功实施邮储银行全国首笔集绿色、盘 活存量、中长期制造业矿山修复于一体的并购银团贷款项目,作为 参团行承担3.5亿元份额,助力废弃矿山生态修复。 b围邮政储蓄银行 在"两山"理念指引下,防沙治沙工作成就显著。邮储银行深入践 行"两山"理念,持续加大绿色信贷业务支持力度。邮储银行呼和 浩特市分行为蒙草生态提供1.5亿元授信额度,以金融活水护航企 业 ...

截至目前，沪市超过1300家公司单独披露了2024年度ESG相关报告。 昨日（8月15日），在"绿水青山就是金山银山"理念（以下简称"两山"理念）提出二十周年之际，上交所发布 中英文版本《贯彻"两山"理念 沪市ESG实践二十年》（以下简称《ESG实践》），向境内外市场参与者系统介 绍沪市二十年来ESG实践探索的阶段性进展，旨在引导市场参与各方继续积极参与、践行可持续发展理念。 "两山"理念是我国生态文明建设的核心理念，是推进中国式现代化的重要指导思想。上交所积极贯彻"两山"理 念，充分发挥资本市场枢纽功能和平台作用，以ESG作为核心发力点，通过加大制度供给、创新金融工具、提 升服务质效等方式，引导上市公司、投资者等各类市场主体将更多资源投向绿色低碳转型和承担社会责任领 域，推动实现绿水青山和金山银山的双向转化。 责编：李丹 校对：杨立林 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司 ...