China Three Gorges (中国长江三峡集团)

Three Gorges has a major reliance on hydropower electricity, which makes a better place for its low-carbon transition to start with. Though it has announced its 2040 carbon neutrality commitment, it is not yet clear how it plans to phase out its fossil fuel assets. To include a clear low-carbon transition plan and conduct a scenario analysis will help it grasp opportunities and reduce risks in the low-carbon economy.

Three Gorges mentions that they aim to achieve carbon peaking by 2023 and carbon neutrality by 2040. However, it does not announce a GHG emissions target, which is common among Chinese companies. Without an emission target, this company might fail to decarbonize as much as its transition pathway requires, even though it already has 95% low-carbon capacity installed in 2020.

Three Gorges aims to achieve carbon peaking by 2023 and carbon neutrality by 2040. Details on the fossil fuel phase-out are not yet known.

Three Gorges plans to strengthen its expertise in hydropower and accelerate development in solar and wind. It does not release a detailed transition plan which include targets for fossil fuel phase out timeline.

The proportion of low-carbon electricity installed capacity of Three Gorges is 95% in 2020. This number is the highest among its Chinese peers, though it slightly decreased from 96% in 2019.

Between 2015 and 2020, Three Gorges’ emissions intensity increased from 23 gCO2e/kWh in 2015 to 33 gCO2e/kWh in 2020. Though the company’s emission intensity reduced from 2018 to 2020, this number is still higher than in 2015 due to its fossil fuel business activities.

Three Gorges consistently develops hydropower and invests in wind and solar though it still expands its activities in fossil fuel energy. It is unclear how it plans to phase out fossil fuel assets and reduce emissions due to the lack of information. As it announced the 2040 carbon neutrality goal, the company is likely to enhance efforts to reduce emission in the coming years.