In a keynote address, Mr. Li said that demand-supply imbalance caused by the COVID-19 epidemic will result in price falls and increased competitiveness, accelerating the development of photovoltaic power.
The United Nations Global Compact (UNGC) Leaders’ Summit 2020 kicked off on 15th June, marking 20 years of uniting business for a better world. This year’s Summit was held virtually, which allowed participants and Global Compact Local networks to join in their own time zone.
Global leaders and enterprise representatives from all over the world came together to discuss how to rebuild inclusive and sustainable economic and social solutions to achieve a world that combines social justice, low-carbon development and climate resilience.
LONGi is the only Chinese company involved in the Summit, which has the participation of over 10,000 companies from 156 countries. On the morning of June 16th, Founder and President of LONGi Group, Mr. Li Zhenguo, spoke about “How to invest in an orderly and better way for the global sustainable future under the COVID-19 epidemic” in his keynote at the Asia-Pacific Arena, together with Dr. Gao Li, WHO Representative of China and Nicolas Vix, CEO of the French Agricultural Credit Bank (China) Co., Ltd.
“The COVID-19 outbreak inevitably brings challenges to renewable energy companies. This epidemic, now in every part of the world, will eventually end. Countries will renew focus on the development of their energy security and localization. The short-term imbalance of supply and demand will see prices of photovoltaic products falling rapidly, thereby increasing the competitiveness of photovoltaic power. We believe that clean energy, especially the development of photovoltaic power, will accelerate when the epidemic ends.” said Mr. Li.
“To develop clean energy, the industry itself must promote the reduction of LCOE and encourage more people to use clean energy. The renewable energy industry can also be cleaner in their own manufacturing processes. Since 2016, LONGi has deployed production capacity in locations with ample hydropower. We took the lead in using clean energy to produce clean energy products. We will promote the sustainable development concept of 'Solar for Solar” to gradually reduce the carbon footprint of LONGi clean energy products.” added Mr. Li.
The UNGC has developed a portfolio of Action Platforms to inspire new and leading approaches to sustainable business. At the Summit, the “Sustainable Infrastructure” Action Platform was launched to help countries along the Belt and Road Initiative area to solve complex sustainability challenges and to innovate around the global SDG goals.
As a solar technology company headquartered in Xi’an, at the starting point of the Silk Road, LONGi has provided insights for the sustainable development of the Belt and Road Initiative.
“As we all know, many countries across the Belt and Road Initiative are neighbors with abundant resources. Clean energy transmission and applications can be achieved through collaboration. In coastal areas, clean energy can be used for seawater desalination, while introducing desalinated seawater and freshwater into the estuary and into inland desert areas. This will achieve ecological restoration, turn deserts into oases and achieve negative carbon development,” Mr. Li explained.
LONGi joined the RE100 in March 2020, committing to sourcing 100% of renewable electricity across its entire global operations by 2028, with an interim target of 70% by 2027. The commitment to the RE100 reinforced the company’s drive towards a negative carbon earth. Energy transition is a global issue of common concern and LONGi has joined the international community to face the challenges and develop opportunities for sustainable development together.
Mr. Li concluded, “2020 marks the 20th anniversary of the founding of UNGC. It is also the 20th anniversary of the establishment of LONGi. The principles that UNGC adheres to coincide with the clean energy concept LONGi holds dear. We are optimistic about the future of renewable energy, we will implement the concept of 'Solar for Solar', and promote the transformation of the energy mix with members of the UNGC and our partners worldwide.”