临江示范项目顺利投运、浙江山鹰纸业项目产气量快速达到预期、未来两年内生物天然气目标产能达到 100万立方米/天；积极布局废弃油脂预处理工厂、未来规划年产能30万吨……自2023年正式开拓转型业 务以来，维尔利（300190）在生物天然气、生物燃料油等绿色生物能源领域的布局逐步完成，正加速 从"有机废弃物资源化专家"向"基于稳定运营环保设施的绿色能源供应商"进行战略升级。 维尔利在生物能源的尝试不止于天然气。此前，公司基于在餐厨垃圾处理领域十多年的市场资源及经验 积累，成立专业的生物燃料油团队，打造自己的废弃油脂源头收运体系，持续开拓生物燃料油的全球市 场。"目前我们正积极布局废弃油脂预处理工厂。"李遥表示，未来公司将结合自身资源优势，持续探索 开发SAF（可持续航空燃料）初级原料端供应商与SAF生产端国际客户领域，打造持续稳定的SAF原料 供应链。 重塑商业模式 从传统的城市垃圾处理建设运营商转型生物能源行业有何优势？从新项目落地到形成盈利、再到快速复 制，第二增长曲线如何顺利构建？记者近日专访了维尔利总经理李遥。 ● 本报记者 孟培嘉 转型生物能源 生物天然气是以农作物秸秆、畜禽粪污、餐厨垃圾及酿造行业等各 ...

重点降碳路径全面落地见效。中国深入实施节能降碳增效行动、循环经济助力降碳行动、碳汇能力巩固 提升行动，取得积极成效。"十四五"前四年我国单位国内生产总值能耗累计下降11.6%。2024年，废钢 铁、废有色金属、废纸、废橡胶、废玻璃等主要再生资源年利用量超4亿吨。 支撑保障体系不断夯实。中国持续加强碳排放统计核算、标准计量等基础能力建设，提升科技创新能 力，完善经济支持政策，健全市场化机制，工作支撑保障逐步加强。截至2024年底，我国本外币绿色贷 款余额36.6万亿元，投向具有碳减排效益的贷款占比接近七成。 中国是全球气候治理的坚定行动派、重要贡献者。展望"十五五"，随着我国绿色生产力快速发展、新旧 动能转换升级、城镇化发展质量提升、科技创新厚积薄发，绿色转型步伐将进一步加快。如期实现碳达 峰，将扭转化石能源等资源消耗和污染物排放刚性增长的趋势，有力推动生态环境质量持续改善，厚植 高质量发展的绿色底色。 非化石能源消费比重由2020年的16.0%增至2024年的19.8%；2025年1月至9月，新能源乘用车国内市场 渗透率达到52.2%；"十四五"前四年我国单位国内生产总值能耗累计下降11.6%……作出碳达峰碳 ...

Core Insights - The lithium battery industry is experiencing a surge in demand driven by the rapid growth of electric vehicles and energy storage, leading to a significant increase in the prices of key materials like lithium hexafluorophosphate [2][3] - China's policy environment and downstream demand are crucial for the industry's development, with initiatives aimed at promoting high-quality growth in the lithium industry as part of the "dual carbon" strategy [3] Group 1: Market Dynamics - The shipment volume of lithium iron phosphate by Andar Technology has continued to grow in double digits quarter-on-quarter, with orders extending into the first half of next year [2] - As of November 7, the average price of lithium hexafluorophosphate reached 119,800 yuan per ton, a 114.31% increase from 55,900 yuan per ton on September 15 [2] - Major companies in the lithium hexafluorophosphate production sector are operating at full capacity, indicating a significant supply-demand reversal and a revaluation of the industry chain [2] Group 2: Policy and Future Outlook - China's energy policies, including the recent guidelines on the integration of coal and new energy, are expected to further drive the lithium industry [3] - By the end of September, China's new energy storage installed capacity exceeded 100 million kilowatts, growing over 30 times compared to the end of the 13th Five-Year Plan, accounting for over 40% of the global total [3] - The market is anticipated to enter an upward price cycle for electrolytes, driven by the increasing penetration of electric vehicles and explosive growth in the energy storage sector [3]

Core Insights - The white paper titled "China's Actions on Carbon Peak and Carbon Neutrality" emphasizes the importance of transitioning to a green and low-carbon energy system to achieve carbon peak and neutrality goals [1][2] - China aims to reduce the proportion of fossil energy consumption from 84.0% in 2020 to 80.2% by 2024, while increasing the share of non-fossil energy from 16.0% to 19.8% during the same period [1][2] Group 1 - The white paper highlights the need for clean and efficient utilization of fossil energy, with a focus on controlling fossil energy consumption [1] - The document states that over the past decade, China has eliminated more than 100 million kilowatts of outdated coal power capacity [2] - The share of coal in total energy consumption is projected to decrease from 56.7% in 2020 to 53.2% by 2024 [2] Group 2 - China is committed to developing a new energy system and a new power system to support its dual carbon goals [1] - The country is enhancing the safety and risk resilience of its power system while promoting the integrated development of power sources, grids, loads, and storage [2] - The average annual increase in the share of non-fossil energy consumption is nearly 1 percentage point [1]

Core Insights - The white paper titled "China's Actions on Carbon Peak and Carbon Neutrality" emphasizes the importance of renewable energy in achieving China's dual carbon goals while ensuring energy security [1] Renewable Energy Development - China is prioritizing the development of non-fossil energy, aiming to increase its share of non-fossil energy consumption from 16.0% in 2020 to 19.8% by 2024, with an average annual increase of nearly 1 percentage point [1] - By the end of August 2025, the installed capacity of wind and solar power is expected to exceed 1.69 billion kilowatts, more than three times the capacity in 2020, contributing approximately 80% of the new power installations since 2020 [1] - The share of wind and solar power generation is steadily increasing at an average annual rate of 2.2 percentage points [1] Hydropower and Nuclear Energy - As of the end of August 2025, conventional hydropower installed capacity is approximately 380 million kilowatts, with pumped storage capacity at 62.365 million kilowatts [1] - There are 112 nuclear power units in operation, under construction, or approved for construction, with a total installed capacity of 125 million kilowatts, ranking first in the world [1] Green Hydrogen Production - By the end of 2024, green hydrogen production capacity is expected to exceed 150,000 tons per year, also ranking first globally [1]

Core Viewpoint - The white paper emphasizes that achieving carbon peak and carbon neutrality is a significant decision made by China based on its responsibility to humanity and the inherent requirements for sustainable development [2][3]. Group 1: Carbon Peak and Carbon Neutrality - The white paper outlines that China has firmly established and practiced the concept that "lucid waters and lush mountains are invaluable assets," taking strong actions to promote green and low-carbon transformation, achieving historic results over the past five years [2]. - It highlights that energy activities are the primary source of carbon emissions, and the green low-carbon transformation of energy is key to achieving carbon peak and carbon neutrality [2]. Group 2: Energy Green Low-Carbon Transformation - The white paper states that non-fossil energy has seen significant development, with the proportion of non-fossil energy consumption increasing from 16.0% in 2020 to 19.8% in 2024, an annual increase of nearly 1 percentage point [5]. - Wind and solar power generation capacity has tripled since 2020, contributing to about 80% of new power installations since then, with the share of wind and solar power generation steadily increasing at an annual rate of 2.2 percentage points [5]. Group 3: Key Areas of Low-Carbon Development - The white paper indicates that key sectors such as industry, transportation, construction, and residential life are significant sources of carbon emissions, and China is promoting the integration of traditional and emerging industries to enhance green low-carbon development [9]. - It mentions the rapid promotion of new energy vehicles, with China achieving the fastest and largest scale of new energy vehicle adoption globally [9]. Group 4: Key Carbon Reduction Pathways - The white paper reports that China has implemented energy-saving and carbon reduction actions, achieving an 11.6% decrease in energy consumption per unit of GDP during the first four years of the 14th Five-Year Plan [12]. - It highlights the establishment of approximately 150,000 waste recycling points and 1,800 sorting centers by the end of 2024, with a comprehensive utilization rate of major solid waste increasing by 3 percentage points compared to 2020 [13]. Group 5: Global Climate Governance - The white paper emphasizes China's commitment to multilateralism and international cooperation in global climate governance, actively promoting the signing and implementation of the Paris Agreement [15]. - It states that China has established energy cooperation platforms with six major regions and has signed energy cooperation partnerships with 34 countries along the Belt and Road Initiative [15].

Core Viewpoint - The white paper titled "China's Actions on Carbon Peaking and Carbon Neutrality" emphasizes China's commitment to achieving carbon peaking and carbon neutrality as a significant decision based on sustainable development and responsibility towards human civilization [4]. Group 1: Commitment to Carbon Neutrality - China has firmly established and practiced the concept that "lucid waters and lush mountains are invaluable assets," taking strong actions and making arduous efforts to promote a historical green and low-carbon transformation over the past five years [4]. - The white paper outlines that energy activities are the primary source of carbon emissions, and the green and low-carbon transformation of energy is crucial for achieving carbon peaking and carbon neutrality [4]. Group 2: Achievements in Energy Transition - Significant achievements have been made in the green and low-carbon transformation of energy, with a focus on renewable energy replacement and the construction of a new energy system and power grid to support the "dual carbon" goals [4]. - Energy conservation is highlighted as an important measure to reduce carbon emissions from the source, while circular economy practices and ecosystem carbon sinks are recognized as vital pathways for carbon reduction [4]. Group 3: Global Cooperation and Climate Governance - The white paper stresses that climate change is a common challenge for humanity, requiring broad global participation and collective action [5]. - China is committed to upholding multilateralism and promoting international cooperation, aiming to lead a new pattern of global climate governance with its own concepts and practices [5].

Core Viewpoint - The white paper emphasizes China's commitment to achieving carbon peak and carbon neutrality as a significant decision for sustainable development, highlighting historical achievements in green and low-carbon transformation over the past five years [1][2]. Group 1: Carbon Peak and Neutrality Goals - The white paper outlines the importance of achieving carbon peak and carbon neutrality, positioning it as a responsibility towards human civilization and sustainable development [1]. - It states that energy activities are the primary source of carbon emissions, making the green and low-carbon transition in energy a key factor in achieving these goals [1]. Group 2: Energy Transition and Achievements - China is implementing renewable energy alternatives and advancing the construction of a new energy system and power grid to support the "dual carbon" goals while ensuring energy security [1]. - Significant progress has been made in energy green and low-carbon transformation, with the implementation of energy-saving and carbon reduction actions [2]. Group 3: Global Cooperation and Climate Action - The white paper stresses that climate change is a common challenge requiring global participation and cooperation, with China advocating for multilateralism and international collaboration [2]. - China expresses willingness to work with the international community to build an ecological civilization and tackle global climate challenges together [2].

Core Viewpoint - The company, Jidian Co., Ltd. (000875.SZ), emphasizes that its Lishu green methanol innovation demonstration project aligns with national efforts to promote renewable energy and hydrogen energy, presenting a significant opportunity for the industry [1] Group 1: Project Significance - The green methanol project is positioned as a direct substitute for traditional marine fuel, which is crucial for deep decarbonization in the maritime transport sector [1] - This initiative is seen as an important method to accelerate the achievement of the "dual carbon" goals set by the country [1] Group 2: National Energy Strategy - The project addresses national energy security issues and aligns with the direction of energy development in the country [1]

Core Insights - China's electricity consumption in July surpassed 1 trillion kilowatt-hours for the first time, equivalent to Japan's total annual electricity consumption [1][3] - The energy supply in China has shown resilience and stability, with the government emphasizing the importance of domestic energy production and renewable energy sources [3] Group 1: Energy Consumption - In July, China's single-month electricity consumption reached over 1 trillion kilowatt-hours, marking a significant milestone [3] - The cumulative energy consumption during the "14th Five-Year Plan" period increased by 9.8 million tons of standard coal, comparable to the total energy consumption of the UK, France, and Germany in a year [3] Group 2: Energy Supply and Policy - The National Energy Administration has implemented measures to enhance energy supply chain stability and security, focusing on coal, oil, gas, and renewable energy [3] - Domestic energy production has accelerated, with over 90% of the increase in energy consumption being supported by domestic resources [3] Group 3: Renewable Energy Impact - Renewable energy has played a crucial role, contributing nearly 50% of the increase in national electricity generation and pushing the total supply of non-fossil energy up by nearly 50% [3] - The stability of China's energy self-supply has improved, with a growing emphasis on green energy sources [3]