新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 《联合国气候变化框架公约》（UNFCCC）缔约方第30次大会（COP30）目前在巴西北部城市贝伦召 开。会议期间，新浪财经与国际可再生能源署（IRENA）总干事弗朗西斯科·拉·卡梅拉（Francesco La Camera）进行了对话。 卡梅拉认为，国际可再生能源署10月发布的最新报告揭示了一个明确趋势：2024年全球新增可再生能源 装机容量达创纪录的582吉瓦，这意味着去年新增电力装机中有92%来自可再生能源。在他看来，我们 正加速迈向以可再生能源为主导的新型能源体系，这一体系将由绿色氢能和可持续生物质能作为重要补 充。这一进程已不可逆转，因为可再生能源的竞争力日益突出，已成为目前全球最具成本效益的电力生 产方式。 谈及中国的贡献，卡梅拉指出数据已经非常清楚——中国发挥了关键作用，主要体现在两个方面：一方 面，中国提供了低成本的太阳能电池板和风机叶片等技术，这加速了其他国家的能源转型；另一方面， 中国国内在可再生能源使用和投资方面的增长速 ...

Core Insights - The National Energy Administration released the "2024 National Renewable Energy Power Development Monitoring and Evaluation Results," indicating a strong overall completion of renewable energy consumption responsibility across provinces [1][2] Group 1: Renewable Energy Capacity and Generation - As of the end of 2024, the cumulative installed capacity of renewable energy in the country reached 1.889 billion kilowatts, representing a year-on-year increase of approximately 24.4%, accounting for 56.4% of total power installed capacity [1] - In 2024, the newly added installed capacity of renewable energy was 375 million kilowatts, including 13.79 million kilowatts from hydropower, 81.37 million kilowatts from on-grid wind power, 278 million kilowatts from on-grid solar power, and 2.31 million kilowatts from biomass power [1] - The total renewable energy generation reached 3.47 trillion kilowatt-hours, which accounted for 35% of the total power generation [1] Group 2: Utilization Rates - The average utilization rate for wind power in 2024 was 95.9%, a decrease of 1.4 percentage points year-on-year [1] - The utilization rate for photovoltaic power was 96.8%, down by 1.1 percentage points year-on-year [1] - The utilization rate for hydropower in major river basins was approximately 99.0%, a decline of 0.4 percentage points year-on-year [1] Group 3: High Voltage Direct Current (HVDC) Transmission - The 20 HVDC lines delivered an annual transmission volume of 705.3 billion kilowatt-hours, with renewable energy accounting for 400.8 billion kilowatt-hours, an increase of 22.2% year-on-year [1] - Renewable energy accounted for 56.8% of the total transmission volume of all HVDC lines, an increase of 4.3 percentage points year-on-year [1] Group 4: Clean Energy Demonstration Provinces - The monitoring results also reported on the implementation status of five national clean energy demonstration provinces (regions), where the share of renewable energy consumption in total electricity consumption increased in Zhejiang, Ningxia, Gansu, and Qinghai [2]

Core Viewpoint - The Huangshuitang Village in Xichang City, Liangshan Prefecture, has been selected as one of China's nine zero-carbon village demonstration projects by the UNDP GEF-7, focusing on renewable energy development and ecological construction [1][2]. Group 1: Zero-Carbon Project Development - The village aims to achieve 100% renewable energy supply for households and public buildings, resulting in an annual carbon reduction of 8,132.5 tons and a negative carbon emission of 42.7 tons per year through green electricity export [1]. - Key projects include the construction of a zero-carbon water plant and a biomass processing plant, which are expected to further reduce carbon emissions by 800 tons annually and generate an additional income of 2.865 million yuan, creating over 100 jobs [1]. Group 2: Financial Support and Credit Systems - The People's Bank of China Liangshan Branch has guided local financial institutions to enhance rural credit systems, achieving a credit coverage rate of 84.9% with a total credit limit of 220 million yuan and a usage rate of 85.4% [2]. - A total of 130 loans amounting to 22.93 million yuan have been issued for rural housing and energy-efficient renovations, addressing the financial needs for housing improvement [2]. Group 3: Diverse Funding Mechanisms - The People's Bank of China Liangshan Branch has mobilized a total of 15.53 million yuan from various sources, including a 280,000 USD grant from the Global Environment Facility, to support the zero-carbon project [3].

Core Insights - The trade volume between six Gulf countries (UAE, Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain) and China is projected to reach $257 billion in 2024, surpassing the combined trade with the US, UK, and Eurozone, which is estimated at $256 billion. By 2028, this trade volume is expected to grow to $375 billion [4][5][6]. Group 1: Trade and Economic Cooperation - The cooperation between China and Gulf countries has expanded from a focus on energy to include technology, infrastructure, green energy, and aerospace [5][6]. - The implementation of visa-free policies for Gulf countries has facilitated increased personnel exchanges and multi-sector cooperation [5][6]. - The trade volume between China and Gulf countries continues to grow, becoming a significant pillar of cooperation [6][7]. Group 2: Areas of Collaboration - Energy cooperation has shown significant results, with advancements in clean energy technologies such as hydrogen, storage, wind, and solar power [6][7]. - Investment cooperation is on the rise, with Gulf countries increasing their investments in China, showcasing the resilience and potential of their partnership [6][7]. - Innovation cooperation is leading the way in emerging fields like artificial intelligence, 5G, and big data, establishing benchmark cases for multi-sector collaboration [6][7]. Group 3: Strategic Initiatives - All six Gulf countries have signed cooperation documents for the Belt and Road Initiative, with numerous projects underway, such as the Mohammed bin Rashid Al Maktoum Solar Park in the UAE, which has created nearly 50,000 jobs [8][9]. - The mutual benefits of the Belt and Road Initiative are highlighted by the complementary strengths of Gulf countries and China, aiming for economic development and strategic alignment [9][10]. - The cooperation framework has evolved to include multi-level mechanisms such as summits and ministerial meetings, enhancing stability and efficiency in collaboration [7][10]. Group 4: Cultural and Human Exchange - Cultural exchanges are deepening, with initiatives like the establishment of Confucius Institutes in Saudi Arabia and cultural centers in Kuwait, fostering mutual understanding [6][7]. - The cooperation between China and Gulf countries serves as a model for collaboration among countries with different political systems, providing valuable experience for global South cooperation [12][13].

Core Insights - The COP30 conference in Belem, Brazil, serves as a crucial platform for advancing global climate governance, particularly focusing on the Amazon rainforest, which is vital for sustainable development in the Global South [1][2] Group 1: China's Role in Climate Action - China has demonstrated commitment to its "dual carbon" goals, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060, which is driving significant changes in its energy structure and industrial system [1][2] - As the world's largest developing country, China is setting an example for other developing nations by balancing emission reductions with development, viewing climate action as a new driver for national growth [2][3] - China's leadership in international climate cooperation is reshaping the traditional model dominated by developed countries, emphasizing technology sharing and collaborative development [2][3] Group 2: Sino-Latin American Climate Cooperation - Climate cooperation between China and Latin America has expanded in scope, covering areas such as clean energy development, land restoration, low-carbon urban construction, and green finance [3] - China's position as the largest exporter of clean technology is crucial for reducing the costs of green transitions in Latin American countries [3] - The convergence of China's ecological civilization philosophy and Latin America's "good life" philosophy highlights a shared vision for sustainable development, emphasizing the balance between development rights and ecological rights [3] Group 3: Future Directions and Global Cooperation - The COP30 conference provides an opportunity for developing countries to assert their agency in climate governance, showcasing the need for equality, inclusivity, and cooperation in achieving a low-carbon future [3] - The conference aims to inspire a spirit of mutual respect and solidarity among nations, promoting collaborative efforts across policy, diplomacy, and technology to realize the concept of a shared human destiny [3]

Financial Data and Key Metrics Changes - For Q1 fiscal 2026, the company reported revenue of CAD 19.2 million, an increase of approximately 27% compared to CAD 15.1 million in the same period last year [10][12] - Development fee revenue for Q1 fiscal 2026 was CAD 3.4 million, a significant increase from zero in the prior year [10] - Gross margin improved to approximately 45% in Q1 fiscal 2026, up from 27% in the same quarter last year [11] - Net income for the quarter was around CAD 1 million or CAD 0.03 per basic share, compared to a net loss of CAD 26.5 million or CAD 0.87 per basic share in the same quarter of fiscal 2025 [12] Business Line Data and Key Metrics Changes - Revenue from EPC services increased by approximately 1% to CAD 11.9 million in Q1 fiscal 2026 [10] - Independent Power Producer (IPP) revenue grew to CAD 3.8 million, an 18% increase from CAD 3.3 million in the prior year [5][11] Market Data and Key Metrics Changes - The company is focusing on expanding its IPP portfolio and advancing its development pipelines, particularly in the U.S. and Canada [13][15] - The demand for battery storage is increasing, with the company shifting its marketing and sales activities towards battery storage project development [17][31] Company Strategy and Development Direction - The company aims to deliver a significant number of solar projects before the end of 2030, leveraging U.S. government guidance and incentives [16] - The company is entering the data center market and exploring environmentally friendly solutions for data centers powered by solar energy [19][20] - A strategic development agreement has been established with Intellistic Technologies to focus on AI and blockchain technologies [22] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the challenges faced by the renewable energy industry but sees a clearer path forward due to recent government actions [15][16] - The company remains positive about the outlook for battery storage, citing increasing electricity prices and demand [31] Other Important Information - The company has secured contracts for community solar projects in Nova Scotia, Canada, and is developing a battery energy storage system in Ontario [7][8] - The company is also exploring a crypto treasury strategy using revenue from its solar assets [21] Q&A Session Summary Question: Factors driving the company's gross margin increase from 27% to 45% - The increase is attributed to effective management of field activities and procurement strategies, shifting from international to domestic content [25][26] Question: Delays impacting project timelines - Delays are primarily due to permitting issues and interconnection challenges, which are common across the battery energy sector [27][30] Question: Progress in monetizing and securing safe harbor for US pipelines - The company is focusing on project-specific long lead items to meet new guidelines and ensure timely project delivery [32]

正在巴西贝伦举行的《联合国气候变化框架公约》第三十次缔约方大会(COP30)上，中国新一轮国家自 主贡献目标备受瞩目。能源基金会首席执行官(CEO)兼中国区总裁邹骥在接受中新社记者专访时表示， 中国可再生能源已进入"负成本"时代，这为实现气候目标提供了坚实支撑。 专访能源基金会CEO：中国可再生能源已进入"负成本"时代 中新社巴西贝伦11月17日电 题：专访能源基金会CEO：中国可再生能源已进入"负成本"时代 中新社记者 刘文文 谈及中国可再生能源发展现状，邹骥给出一组关键数据：中国风光发电量在全社会用电量的占比由2020 年的9.7%提高到2024年的18.6%，年均提升超过2个百分点。 来源：中国新闻网 编辑：郭晋嘉 今年9月，中国宣布新一轮国家自主贡献目标。其中包括，到2035年，中国全经济范围温室气体净排放 量比峰值下降7%-10%，力争做得更好。非化石能源消费占能源消费总量的比重达到30%以上，风电和 太阳能发电总装机容量达到2020年的6倍以上、力争达到36亿千瓦。 广告等商务合作，请点击这里 邹骥指出，在全球气候治理面临不确定性的背景下，中国作为主要大国率先明确新一轮国家自主贡献目 标，展现了应 ...

Investment Rating - The report does not explicitly provide an investment rating for the sustainable aviation fuel (SAF) industry, but it emphasizes the potential for significant growth and development in the electric SAF sector, particularly in China [4][5]. Core Insights - The aviation industry faces increasing pressure to reduce carbon emissions, with the International Civil Aviation Organization (ICAO) targeting net-zero emissions by 2050. Sustainable aviation fuel (SAF) is identified as a key solution to achieve this goal [4][7]. - Electric SAF, produced from renewable electricity, water, and captured CO2, is seen as a necessary complement to biomass SAF due to its higher reduction potential and theoretical production capacity [4][9]. - The report highlights that while electric SAF has a promising future, it currently faces high production costs, limiting its commercial viability in the short term [12][39]. - China is positioned to play a significant role in the global electric SAF market due to its advanced renewable energy capabilities and potential for cost-effective production [5][20]. Summary by Sections 1. Research Background and Overview of SAF Development - The aviation sector's carbon emissions have been growing rapidly, necessitating urgent action for reduction. SAF is viewed as the most effective means for the aviation industry's green transition [4][7]. - Electric SAF is distinguished from biomass SAF by its raw materials and production processes, offering greater sustainability and long-term scalability [33]. 2. Global Development Status of Electric SAF - The global SAF market is experiencing rapid growth, with production expected to reach 1.25 billion liters (approximately 1 million tons) in 2024, doubling from 2023 [11]. - Over 40 airlines have committed to using SAF, with projections of approximately 14 million tons of SAF usage by 2030 [11]. - Electric SAF is still in the early stages of commercialization, primarily represented by demonstration plants and small-scale projects [12]. 3. Technical Route Analysis of Electric SAF - Electric SAF technology can be categorized into three main modules: green hydrogen production, CO2 capture, and liquid fuel synthesis. The main synthesis pathways include Fischer-Tropsch synthesis (FT) and methanol-to-jet (MtJ) [44]. - The report notes that while biomass SAF currently dominates the market, electric SAF is expected to overcome existing challenges and become a major production technology by 2035 [39]. 4. Production Potential Analysis of Major Countries - The report evaluates the production potential and cost structure of electric SAF in China, the US, Germany, and Saudi Arabia, highlighting China's advantages in renewable energy and green hydrogen production [5][20]. - It emphasizes the need for clear long-term development goals and supportive policies to foster the electric SAF industry in China [5]. 5. Future Global Market Development Trends - The report predicts that by 2035, electric SAF will play a crucial role in the global SAF supply and demand landscape, with China emerging as a key player [5][20]. 6. Key Conclusions - Electric SAF has greater decarbonization potential but faces high costs until 2035, making it difficult to compete effectively with biomass SAF in the short term [5][39]. - The development of electric SAF is not only vital for the aviation industry's energy efficiency and emissions reduction but also serves as a new driver for economic growth and job creation in China [5].

Core Viewpoint - The global climate governance is at a critical stage, and China emphasizes the importance of technological innovation in driving industrial practices for green and low-carbon development, which is essential for addressing climate challenges and promoting global climate governance [1][3]. Group 1: Technological Innovation and Investment - China is focusing on low-carbon technology innovation in key areas such as renewable energy, industrial decarbonization, new energy storage, and transportation, increasing R&D investment to accelerate the transition of cutting-edge technologies from laboratories to industrial applications [3][4]. - The country aims to achieve a total installed capacity of renewable energy generation of 2.16 billion kilowatts by June 2025, accounting for over 40% of the global total, with wind and solar power capacity exceeding the 2030 national contribution target ahead of schedule [4]. Group 2: Industry Practices and Achievements - Currently, one-third of electricity consumed in China comes from clean energy sources, and the country has maintained the world's largest production and sales of new energy vehicles for ten consecutive years [4]. - China provides over 80% of the world's photovoltaic components and 70% of wind power equipment, contributing to a significant reduction in the average cost of wind and solar power generation over the past decade, with costs decreasing by over 60% and 80%, respectively [4]. Group 3: Collaborative Efforts and Future Goals - The establishment of over 6,000 national-level green factories by the end of 2024, which account for approximately 20% of the total output value of the manufacturing industry, is part of China's strategy to lead industry transformation through green factories and supply chain construction [4]. - China expresses its willingness to share low-carbon technology achievements and practical experiences with other countries, aiming to contribute to building a clean and beautiful world and achieving global sustainable development [4].

COP30观察：中国绿色方案在全球南方加速落地 巴西贝伦位于亚马孙河口，湿热而多雨。当气候谈判回到森林，参加 COP30的各国代表围绕能源转型 与气候治理展开密集磋商。 今年，全球南方国家的声音更为突出。他们共同面临能源成本上升、极端天气威胁等难题，其诉求也更 加明确一致——能源转型方案必须可负担，也必须可落地、可持续。 《联合国气候变化框架公约》执行秘书斯蒂尔在COP30开幕式致辞中表示，目前，太阳能和风能在全球 90%的地区已成为成本最低的电力来源。今年，可再生能源已超越煤炭成为世界首要能源。 这些年，可再生能源的广泛利用正改变一些国家的能源结构版图：在南亚沙漠，上海电气等企业运营的 能源项目，给无垠黄沙注入无限生机；在东南亚沿海，远景能源等企业参建的风电项目在极端天气点亮 了"用户的灯"；中国能建等企业在拉美高原地区承建的光伏发电项目，持续向当地用户提供稳定清洁电 力。 从塔尔沙漠的能源项目，再到拉美与非洲的光伏、风电布局，中国的绿色方案正以多种形式进入南方国 家的能源结构调整中。 它们共同呈现出一种可以清晰观察的趋势——以较低成本获取清洁能源，以较短周期完成项目落地，并 在实际运行中具备较高稳定性。 ...