Honeywell to tap into China's low carbon market
Honeywell China opened its Low Carbon Center in Shanghai on Wednesday to tap into the huge carbon market after China vows to realize carbon peak in 2030 and carbon neutrality in 2060.
The center integrates the company's technologies and staff in low carbon, which focuses on low carbon technology research and Chinese market demand for reducing carbon emissions, as well as promoting the development and implementation of low-carbon solutions by leveraging the company's experience in reducing emissions.
"The center will closely monitor market development, actively explore cutting-edge trends and publish white papers and research reports regularly on advanced low-carbon technologies, products, and services," said Zhou Lubo, chief technology officer of PMT APAC and director of Honeywell China Sustainability Research Institute.
Companies from home and abroad have seen rising awareness of carbon reduction since China introduced its national emissions trading scheme in July.
Industries with high carbon emission in China include electricity, steel, transportation, construction and petrochemicals, according to earlier reports.
The center will help solve problems related to pollution facing these industries by focusing on six major technical fields covering new energy, renewable resources and material recycling technologies to improve efficiency of carbon-hydrogen conversion and reduce energy consumption, carbon capture, utilization and storage and the reduction of non-carbon dioxide greenhouse gases.
"We look forward to building the center into a think tank that integrates forward-looking insights and pragmatic solutions." Zhou said.
The center will be built into a cooperative platform among Honeywell, local research institutes and universities as well as Chinese enterprises.