Geely Shares Decarbonisation Experience at COP29
- Geely showcase green methanol and circular economy leadership at COP29
- Geely's green methanol expertise delivers real-world solutions for zero carbon emissions
BAKU, Azerbaijan, Nov. 19, 2024 /PRNewswire/ -- Zhejiang Geely Holding Group (Geely Holding) participated in the 29th United Nations Climate Change Conference (COP29) in Azerbaijan, joining a roundtable forum on reducing carbon emissions within the new energy industry value chain and promoting a sustainable future. Geely Holding was invited to share its 20-year experience in developing a robust green methanol ecosystem, transforming traditional energy industries towards sustainable green energy, and applying real world solutions to achieve peak and zero carbon.
As a member of the UN Global Compact since 2022, Geely is committed to implementing the Compact's ten principles and contributing to the 17 UN Sustainable Development Goals through its operations. This year's COP29 discussions focused on promoting the energy revolution and industrial transformation, as well as accelerating green, low-carbon, sustainable development.
Geely Holding stands as the only company globally to have developed a full range of methanol vehicle technologies and achieved industrial-scale methanol operations. In September, Geely launched China's first green methanol project, with an initial production capacity of 100,000 tons. The project is set to scale up to over 500,000 tons annually, utilizing a blend of clean wind and solar energy, alongside captured industrial carbon emissions. This initiative is expected to reduce carbon emissions by 750,000 tons per year.
In the transportation sector, Geely's green methanol hybrid electric vehicles are actively used in long- and short-distance logistics, urban distribution, specialized vehicles, public transportation, and other applications. These vehicles reduce emissions significantly, achieving a 98% reduction in particulate matter (PM) pollutants and 88% reduction in carbon monoxide compared to diesel models. In the passenger vehicle sector, Geely's latest methanol technology allows vehicles to run on a flexible blend of methanol and gasoline in any ratio within the same fuel tank, while integrating advanced plug-in hybrid systems for enhanced efficiency.
Geely is also advancing the circular economy, with a focus on recycling materials in vehicles production. By 2025, the company aims to use 20% recycled steel, 30% recycled aluminum, and 25% recycled plastic in its vehicles. Additionally, 40% of previously wasted stamped aluminum and steel is now being reused in production. Geely has expanded its circular economy efforts to include battery recycling, with several plants already operational.
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SOURCE Zhejiang Geely Holding Group