Group 1 - The average carbon emission factor for electricity in China is 0.5366 kg CO2/kWh, showing a decreasing trend over the years due to the growth of renewable energy and non-fossil fuel installations [1][2] - The energy sector is responsible for both reducing its own emissions and facilitating the electrification of non-electric sectors, with the carbon emission factor being a crucial metric for accounting [1][3] - The implementation of the green certificate system aims to enhance the consumption of renewable energy and reflects the environmental value of renewable electricity, impacting the calculation of the carbon emission factor [1][4] Group 2 - The carbon emission factor is calculated based on the total carbon emissions from fossil fuel power generation divided by the total electricity generated, with variations for regional and provincial levels [2][3] - There is a need to avoid double counting in the calculation of the carbon emission factor, especially concerning renewable energy purchases and their impact on overall emissions [4][5] - The international approach to green electricity trading emphasizes the need for a consistent deduction mechanism to prevent double counting, which is recognized in the EU's policies [5][6] Group 3 - Companies can adjust their carbon emission factors by increasing their purchase of green electricity and green certificates, which can lead to lower overall emissions [7][8] - The importance of the carbon emission factor in the carbon accounting system necessitates clear statistical rules and guidelines to avoid double counting and ensure accurate representation of renewable energy's environmental value [9][10] - Recommendations include enhancing international negotiations for mutual recognition of carbon emission factors and clarifying the rules for their calculation to align with renewable energy consumption [9][10]

Core Viewpoint - The meeting between the company and the CEO of the Climate Organization focused on the development of renewable energy in China, the green certificate system, and potential business cooperation [1][2]. Group 1: Green Certificate System - The company showcased the green certificate service hall, highlighting the history of the National Renewable Energy Information Management Center and the green certificate trading platform, emphasizing the transparency and competitiveness of the Chinese green certificate system [1]. - The green certificate market in China is rapidly developing, with a projected trading volume exceeding 446 million in 2024, surpassing all previous transactions before 2023, and nearly 200 million traded in the first quarter of this year [2]. Group 2: International Cooperation - The CEO of the Climate Organization expressed gratitude for the company's efforts in promoting the unconditional recognition of Chinese green certificates under the RE100 initiative and acknowledged the importance of the green certificate market for achieving 100% renewable energy goals [4]. - The company anticipates that the full recognition of Chinese green certificates by RE100 in 2025 will significantly impact the market, leading to increased procurement from multinational and supply chain companies [2].

Core Insights - The green certificate system in China has been significantly improved over the past two years, establishing a comprehensive and efficient framework for green electricity consumption [1] - The Guangdong-Hong Kong-Macao Greater Bay Area has emerged as a key growth area for green electricity consumption, driven by policy guidance and market forces [1][2] Group 1: Green Certificate System - The green certificate is regarded as the "identity card" for renewable energy and serves as a commitment for companies to undertake social responsibility [1] - The green certificate system, implemented since 2017, has developed a full lifecycle management system including registration, issuance, trading, application, and cancellation [1] - In the first quarter of this year, the Guangzhou Power Trading Center's green certificate transactions exceeded 100 million, accounting for approximately 75% of the national total [1] Group 2: Market Performance - The cumulative green electricity trading volume in the Greater Bay Area reached 1.329 billion kilowatt-hours, with an annual growth rate of 10 times [2] - In the first quarter, the trading volume in the Greater Bay Area was 780 million kilowatt-hours, representing a year-on-year increase of 16 times and accounting for 39% of the national total [2] - Shenzhen's green electricity trading volume surged by 233% year-on-year, making up 31% of Guangdong's total green electricity trading [2] Group 3: Corporate Benefits and Pricing - Companies purchase green certificates to support green electricity consumption, enhance brand value, and improve product competitiveness [2] - The average price of green certificates in 2024 is projected to be 2.7 yuan per certificate, with fluctuations influenced by supply and demand, power source types, and regional distribution [3] - The long-term purchase agreements (PPA) for green electricity in Guangdong account for 81% of the total, indicating a diverse supply structure [3]