JinkoSolar signs up to Global Framework Principles for Heavy Industry

By Jinko Solar

JinkoSolar has announced that it has signed up to Global Framework Principles for Heavy Industry, in order to contribute to the decarbonization of the heavy industry sector, in favour of a shift toward a clean energy transition.

Dany Qian, JinkoSolar’s Vice President, commented,“I am delighted to support the Framework Principles for Heavy Industry on behalf of JinkoSolar. Renewable energy will be vital in decarbonizing the heavy industry sector, which creates nearly one third of global emissions. As a producer of zero-carbon energy sources, we are proud to be one of the first companies in China to support these Framework Principles and look forward to working alongside the rest of the signatories to raise global ambitions in decarbonizing heavy industry.” 

While more and more countries and their governments are aware of climate change and are on the hunt for effective ways to cut emissions, progress is still too slow with the situation worsening. The current Covid-19 pandemic has also led to a significant slowdown in industrial activity and threatens to divert attention away from a sustainable transition. Time remains of the essence, especially in heavy industry, since long investment cycles mean that decisions made in the short-term could risk locking in emission-intensive production for decades to come. 

Governments can play a critical role in developing recovery packages to accelerate progress: 

1.Key targets for sustainable stimulus for industry should include incentives for energy efficiency and improving material recycling systems. 

2.Fund and strengthen progress in developing and implementing innovative clean technologies. 

3.Legislate to eliminate emissions from energy intensive heavy industry.

4.Sectoral agreements (ie formal international commitment to reduce emissions in a sector).

5.Green certificate and trading systems.

6.CO2-based tariffs and taxes.

7.Consumption-based regulations (e.g. requirements on the ratio of renewable power consumption in energy bills).

8.International cooperation, such as technology transfer and best practice sharing.

With clever policy design and a co-operative approach among stakeholders, progress can be accelerated as required. JinkoSolar will assume an indispensable role in offering a cheaper and smarter clean energy solution to assist heavy business to reduce its contribution to climate change.

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