Wanhua Chemical to Showcase Commitment to Dual Carbon Goals and Green Solutions at COP28

DUBAI, UAE, Dec. 5, 2023 /PRNewswire/ -- Wanhua Chemical, participated in 2023 UN Climate Change Conference (UNFCCC COP28) being held from November 30 to December 12, 2023, in Dubai. Mr. Liao Zengtai, Chairman of Wanhua Chemical, presented the Company's dedication to solidifying dual carbon goals, sharing practical models of energy use and carbon reduction, and presenting innovative green chemical technology and product solutions to address global sustainable development challenges.

"The most crucial aspect of sustainable development is protecting the environment for human survival. Wanhua is committed to achieving peak carbon no later than 2030 and striving for carbon neutrality by 2048, contributing to the broader global sustainability agenda," Mr. Liao Zengtai said.

Wanhua's strategic approach to reduce carbon emissions involves accelerating production and operational efficiency through technological innovation and optimizing equipment processes. Key initiatives include:

Zero Carbonization of Electricity

• Investment in clean energy projects to achieve over 50% clean electricity among all industry parks by 2030.
• Wanhua's Industrial Parks in China aim for 100% clean electricity by 2040, with an anticipated annual emissions reduction of 37 million tons of CO₂ after project implementation.

Energy Decarbonization

• Recycling waste heat through innovative technologies saves 2.6 million tons of coal annually.
• Process low-grade thermal energy into high-grade thermal energy, reducing carbon dioxide emissions by 6.7 million tons, guaranteeing heating for 100 million square meters of households.

Innovative Carbon Reduction

• Introduction of the world's first fluidized bed technology reactor for hydrogen chloride recycling, reducing hydrochloric acid production by 300,000 tons annually and saving 1.4 billion kWh/year.
• MDI waste brine circulation technology with a recycling rate of 100%, reducing carbon dioxide emissions by 140,000 tons per year.

Wanhua Chemical actively develops and promotes green solutions for the industry, making significant progress through its state-of-the-art innovations that include:

Green Solutions

• Bio-based products with over 90% bio-based content reduce production energy consumption by 20% and carbon emissions by 30%-50%.
• Recycled plastic utilization through mechanical and chemical recycling methods. Through the utilization of PCR materials, the recycling of plastic buckets and automotive lamp resources has been achieved in terms of mechanical recycling, thus providing these materials with a subsequent lifecycle. With a focus on chemical recycling, Wanhua Chemical has put forth a technology that recycles polyurethane foam and plastic particles, thereby promoting a circular recycling model that emphasizes green materials, production, and recycling.

Wanhua Chemical, also formulates and propagates sustainable methodologies to aid in the ecological metamorphosis of the industrial chain:

Empowering Industrial Application Transformation

• Supporting the new energy industry, such as wind power, photovoltaics, and green hydrogen, with material solutions for energy harvesting, storage, and applications to reduce reliance on traditional energy.
• Polyurethane material development for the construction industry to meet higher energy-saving requirements.
• Green recycling packaging to build a new trade ecosystem, Wanhua Chemical is set to reduce CO₂ emissions by 100,000 tons and save over 250,000 mature trees annually through 1.5 million cycles of shared pallets' use. The company has also reported a 500% increase in the turnover rate of shared packaging and a 40% decrease in the use of disposable plastic. In addition, the processing of 10,000 tons of waste packaging barrels each year is expected to further reduce CO₂ emissions by 4,000 tons.

Wanhua will continue to adhere to its corporate social responsibility, caring for the community, women, and children. The company commits to strengthening its investment and practices in sustainable development, utilizing chemistry to create a sustainable and better future for humankind.

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