China Recycling Energy Corp. (CREG) anticipates that it will benefit from China’s recent environmental policy announcements. China has been increasing its focus on emissions and air quality, reducing the capacities of heavy industries such as cement, steel and coal, and encouraging the use of clean coal and alternative fuels. CREG provides industrial waste-to-energy solutions for cement, iron, steel, nonferrous metal, coal and petrochemical plants. In light of local and regional government investment in environmental protection infrastructure in the country, CREG has been developing energy efficiency solutions to help reduce China’s air pollution and tackle energy shortage challenges.
“The energy saving and environment protection industry has now officially been designated a leading strategic industry. This is a major development that will greatly increase business opportunities for us. We will spare no effort in the development of new technologies to meet the increased demand for cost effective industrial energy recycling solutions. We will improve our service quality and increase the number of customers as we work to grow shareholder value and contribute to China's drive for a cleaner environment,” said Ku Guohua, Chairman and Chief Executive Officer of CREG.
According to CREG, the recent annual growth rate of the global energy saving and environment protection industry is more than 8%, growing from US$250 billion in 1992 to US$600 billion in 2013.
China’s Environment Ministry plans to lower cement production capacities by 4.6 million t in Inner Mongolia, 61 million t in Hebei Province and cut capacity to less than 5 million t in Tianjin by 2017. China’s central government announced that it would invest some 1.7 trillion yuan in a bid to lower PM2.5 levels.Under Beijing’s Clean Air Plan, carbon emissions in the city will be cut by 20 million t by 2018, and air pollution will be down 25% on 2012 levels by 2017. Carbon emissions reduction from the cement industry will be 2 million t in 2018, according to Thomson Reuters Point Carbon analysis. Cement capacity is expected to be reduced to 4 million t in Beijing by 2017.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/16042014/creg_sees_growth_potential_in_chinese_environmental_policy_26/