Chinese business giants join climate group

China is a world leading renewables producer

Three giants of the Chinese economy today signed a commitment to reduce their carbon emissions in a sign that developing economies are being won round to the idea that fighting climate change and economic growth are not mutually exclusive.

China Mobile, the world’s biggest wireless operator, Broad Air Conditioning, the world’s biggest manufacturer of low-energy air-conditioning units and Suntech, the world’s third largest solar energy company all joined the Climate Group.

“Today’s commitments are of national and global importance and significantly strengthen the global business axis needed to address climate change,” said Steve Howard, chief executive of the Climate Group.

No specific emissions reductions targets have been agreed as of yet, though China Mobile – which is owned in large part by the state – has agreed, initially, to improve its energy efficiency by 40 per cent.

The Climate Group's philosophy works by getting many businesses as possible onside with the broad climate agenda before working with them to agree specific targets.
Chinese businesses are already starting to see significant business opportunities in a low carbon global economy.

A recent report published by the Climate Group found that China is already the world’s leading renewable energy producer.

Former UK prime minister Tony Blair welcomed the move.

“I would like to congratulate China Mobile, Broad and Suntech for their bold and positive leadership," he said. "I hope the commitments their CEOs make today will mobilise more global business leaders to cut emissions and realise economic benefits from advancing the global low carbon economy.”

But China has a long way to go before it can start to reduce its dependence on fossil fuels, despite its burgeoining renewables sector. A report from researchers at the Chinese Academy of Sciences says China's greenhouse gas emissions could more than double in two decades to 14.7 billion tonnes.

China- based Lenovo also partnered with the Climate group earlier this year.

Other members of the group include BP, BSkyB, HSBC, JP Morgan Chase, Nike and Tesco.