Business chamber members learn about Yichang’s green growth path

By Tan Maolin, Yichang International Communication Studio

Members of international business chambers have visited several Yichang companies to learn about their progress in green development and sustainable transformation.

During their visit to the L'Oréal Yichang plant, they were shown the waterloop system, which recycles water throughout the production process. L'Oréal Yichang, one of L'Oréal's two factories in China, achieved zero carbon emissions in 2018.

Over 200 delegates from both domestic and international companies and organizations have been on a three-day business trip since March 4, aiming to explore a low-carbon and high-quality development path for businesses in Yichang.

Throughout the tour, local companies engaged in discussions with the visitors on various topics related to green development, including ESG disclosure for listed companies, the establishment of carbon emission standards, and the application for green electricity certificates.

Additionally, as part of the tour, 14 companies signed agreements with local companies and governments on green industry projects. These projects include the new energy storage project between EDF Renewables and the Changyang Tujia Autonomous County government, as well as the bio-agricultural industrial park project between Angel Yeast and Wufeng Tujia Autonomous County government.

Zheng Yingxin, the General Manager of Hubei Province, EDF Renewables China, stated: "The energy storage project is expected to be completed by the end of the year, with an estimated investment of about US$100 million. This marks the first time EDF has invested in an energy storage project in China."

In recent years, Yichang has been accelerating the green transformation of local industries and is charting a new path towards green development. During the closing ceremony of the tour, Peter Bakker, President and CEO of the World Business Council for Sustainable Development, commented: “The businesses in Yichang, not only those phosphorus-based industries, but also those in health and food sectors are being developed into a very harmonious industrial system. I understand that in 2023 Yichang entered the top 50 cities in China, and I'm absolutely convinced the fact the hydro power and the developing green and high-quality industries are of the key reasons why that growth has happened in Yichang.”