Core Insights - The report emphasizes the dual approach of "footprint + handprint" to minimize the company's environmental impact while enhancing the value of its products and solutions for customers [1][3] Group 1: Sustainability Initiatives - The company reported a total energy usage of 2,486 GWh in 2024, remaining stable compared to the previous year, with renewable energy accounting for 38% of total energy consumption, an increase of 2% from the previous year [1] - Carbon dioxide emissions were recorded at 568,000 tons, a reduction of 37,000 tons compared to the previous year [1] - Since 2020, the company has reduced its carbon emissions per million euros in sales by 45%, down to 47.5 tons, and has decreased absolute carbon emissions by approximately 200,000 tons, equivalent to 26% of 2020 levels [1] Group 2: Renewable Energy Projects - As of the end of 2024, the company has established and is operating 44 solar photovoltaic arrays globally, including 9 in China, with 65 additional projects in various planning stages [2] - A new solar project at the company's site in Hangzhou is expected to generate 200,000 kWh annually, reducing carbon emissions by 118.8 tons each year [2] - The company plans to increase the renewable energy usage ratio to 41% at its Suzhou factory by procuring 1.6 million kWh of green electricity in 2024, achieving a 23% reduction in carbon emissions per unit of sales compared to the 2020 baseline [2] Group 3: Energy Efficiency and Product Solutions - The company has identified a potential 30% energy-saving opportunity by analyzing approximately 40% of its total carbon emissions as part of its "Bee-Efficient" initiative launched in 2019 [2] - The Wibak factory in Wuxi achieved a 13% reduction in carbon emissions and a 14% decrease in overall energy consumption compared to the 2023 baseline through system optimizations [3] - In the lubricant sector, the company saved 44 GWh of electricity for Chinese customers in 2024, equivalent to a reduction of 230,000 tons of carbon emissions [3] Group 4: Future Commitments - The company is committed to continuous upgrades in green manufacturing, strengthening local R&D, and expanding talent and cultural investments, with a focus on "taking responsibility" as a core value [4] - The company aims to achieve climate neutrality by 2045, reinforcing its commitment to global climate initiatives [4]

Core Viewpoint - The European Union (EU) is accelerating its efforts to decouple from Russian energy sources, aiming to completely end energy imports from Russia by 2027, three years earlier than previously planned [1][2]. Group 1: Energy Import Trends - From 2021 to 2023, EU's natural gas imports from Russia decreased by over 70%, dropping from 150 billion cubic meters to 43 billion cubic meters [1]. - In 2024, there is a projected rebound in Russian gas imports, with a 12% increase in liquefied natural gas (LNG) and a 26% increase in pipeline gas, totaling 52 billion cubic meters [1]. - Despite efforts to reduce dependency, Russian gas is expected to still account for about 13% of the EU's total natural gas imports in the current year [1]. Group 2: Policy Measures - The EU's roadmap includes requiring member states to submit plans to phase out Russian gas by the end of 2025, banning new long-term contracts, and stopping spot trading [2]. - The EU plans to enhance maritime regulation to combat the "shadow fleet" created by Russia to evade sanctions and will cut off Russian uranium supply chains [2]. - The roadmap outlines nine specific actions to gradually eliminate Russian energy imports, with legislative proposals for oil, gas, and nuclear energy expected next month [1][2]. Group 3: Historical Context and Future Projections - Prior to the Ukraine conflict, the EU and Russia were each other's largest energy trading partners, with Russia supplying 28% of EU's crude oil, 44% of natural gas, and 52% of coal imports in 2021 [2]. - Following the conflict, the EU has implemented 16 rounds of sanctions against Russia, including bans on oil and coal imports, while still allowing pipeline gas imports [3]. - By the end of 2024, the share of Russian gas in EU imports is projected to drop from 45% in 2021 to 19%, and Russian oil imports are expected to fall from nearly 30% in early 2022 to 3% [3]. Group 4: Changing Supply Dynamics - The role of Russia in the EU's energy landscape is being replaced by the United States, with US LNG imports accounting for nearly 45% of the EU's total LNG imports in 2024 [4]. - Norway has become the largest supplier of pipeline gas to the EU, with over 33% market share [4]. Group 5: Internal Disagreements - There are differing opinions among EU member states regarding the complete cessation of energy imports from Russia, with Slovakia's Prime Minister expressing concerns about the economic impact of such a move [5]. - Slovakia estimates that ending all energy cooperation could lead to an annual increase in gas costs of €40 billion to €50 billion and an additional €60 billion to €70 billion in electricity costs [5].