Quzhou is named the China Carbon Label Industrialization Demonstration Base at the 2023 China Carbon Label Forum held in Hangzhou. [Photo/qz123.com]

Quzhou was named the China Carbon Label Industrialization Demonstration Base at the 2023 China Carbon Label Forum held in Hangzhou on June 27.

The research and implementation of a carbon labeling system is meant to help China strengthen its climate change response capacity and an effective tool for global enterprises carrying out low-carbon transformation.

At the forum, an industry carbon labeling system called "flag action" was launched. Leading companies in various industries that at the forefront of the dual-carbon field took the lead in initiating the carbon labeling system initiative and explored effective low-carbon paths for the entire industrial chain.

Juhua Group and Huayou Cobalt New Materials Co Ltd from Quzhou were awarded the title of "flag unit".

Huayou Cobalt New Materials Co Ltd, which produces mainly cobalt products, nickel products, lithium carbonate, cobalt trioxide, and ternary precursor, is one of the companies participating in the industry's carbon labeling system.

In recent years, the company has combined its carbon account with intelligent factory construction and extended carbon monitoring and diagnosis to the production and equipment lines. Twenty-six products have achieved online carbon footprint calculation.

Juhua Group uses roof distributed photovoltaics to generate electricity. After completion, it will generate 27 million kilowatt-hours of electricity per year and reduce carbon emissions by 18,400 metric tons.

The company also promotes the application of new insulation materials and is carrying out intelligent transformation on 148 sets of devices. This annual energy-saving consumption reduction can reduce costs by about 300 million yuan ($41.39 million).