State Power Investment Corporation (SPIC) (国家电力投资集团)

SPIC has not announced an emissions reduction target, which is common among Chinese companies because publicly reporting such a target is not compulsory. As a specific emissions reduction target could stimulate substantial action towards SPIC’s low-carbon pathway and its goal of becoming a world-leading clean energy company, it is essential for SPIC to set this target in the short term.

SPIC has reduced its emissions intensity – that is, the amount of greenhouse gas emissions produced for every unit of electricity – by 14% over the period 2013-2018. This is a promising achievement but not sufficient to align with the company’s low-carbon pathway. With a time-bound, measurable transition plan in place, SPIC is expected to develop larger renewable capacity share and a more profitable business model in the foreseeable future.

SPIC has a strategic plan in place to lead it to a low-carbon future. The plan aims for 75% of SPIC’s capacity to be renewable by 2030 and for the company to become a world-leading, competitive clean energy provider. However, as is commonly the case for Chinese companies, SPIC has no public, verifiable emissions reduction target.

SPIC is the only Chinese company that has announced a transition plan with a renewable capacity target. By 2030, 75% of SPIC’s electricity capacity will be renewables, which will give it the second highest share of renewables of the Chinese companies assessed. However, no further details are provided regarding how this will be achieved.

SPIC is committed to continue expanding its low-carbon portfolio, with the total share of low-carbon energy increasing each year. However, no further information is provided to indicate how SPIC is planning to achieve its goal.

SPIC has achieved a decrease of 14% in emissions intensity over the period 2013-2018. Despite a plan to achieve 75% of renewable capacity by 2030, SPIC has not publicly announced any plan to phase out its coal power plants and coal exploitation business in the near future. SPIC should make more efforts to be low-carbon in the short term.

As a company aiming to become a leading low-carbon energy provider globally, SPIC appears to have inconsistencies in its low-carbon development plan. SPIC has set a goal of having 75% of capacity from renewables by 2030, without providing explicit details regarding coal phase-out and actions to get there.