China Huaneng Group (中国华能集团)

The company has committed to increase its low-carbon electricity capacity from 36.61% in 2020 to 50% in 2025, and 75% in 2035. This increase in low-carbon capacity could generate significant changes in Huaneng’s business model and succeed in a low-carbon economy. However, disclosure on scenario analysis, strategic steps to phase out coal and targets reduce its scope 1 and 2 emissions are still lacking. These elements are essential to help assess Huaneng’s transition progress.

Huaneng’s emissions intensity has decreased by 5%, from 696 gCO2e/kWh in 2015 to 661 gCO2e/kWh in 2020, which only represents a fifth of the rate required by its 1.5°C pathway between 2020 and 2025. The company is projected to exceed its carbon budget to 2035 by 54%. To remain within its carbon budget, Huaneng should accelerate the decline in electricity production from fossil fuel assets.

Huaneng plans to reach 50% low-carbon electricity capacity by 2025 and 75% by 2035. It also plans to reduce the carbon emission intensity by 20% compared with the 13th Five-Year Plan (2016–2020).

By 2025, Huaneng plans to have installed power generation capacity reaching about 300 million kilowatts, adding new energy installed capacity of more than 80 million kilowatts, ensuring that low-carbon energy installations account for more than 50%.

In 2020, Huaneng has a 36.6% low-carbon electricity capacity, which increased from 29% in 2016. Capital expenditure figures were not found.

Between 2015 and 2020, Huaneng’s emissions intensity has decreased by 5%. However, this only represents about a fifth of the rate required by its 1.5°C pathway between 2020 and 2025.

Huaneng just released a low-carbon transition plan in 2021. The company will continue to increase its low-carbon electricity capacity from 36.6% in 2020 to 50% in 2025. However, the company doesn’t disclose a strategy explaining how it will reduce emissions or gradually phase out from coal assets.