Huafeng Group
At a Glance
Industry
Internet, Software, Hardware and Technology Services
Project Types
Data Analysis, Goals/Targets, Industrial Energy Efficiency, Supply Chain
Year
2021
Location
Putian
Summary
Yimeng conducted carbon audit in Huafeng Group and analyzed opportunities in carbon market.
Goals
Huafeng, a textile supplier, is facing challenges from carbon reduction. The company needs to know the amount of carbon emission and how to reduce it. Yimeng’s first goal was to conduct a carbon audit and estimate the effects of carbon reduction solutions.
Huafeng is aware of the opportunities of carbon reduction, including the potential benefits from the national ET. Yimeng’s second goal was to estimate these benefits and propose suggestions.
Solutions
- Huafeng needed to unify templates for a carbon audit and verify several important data points for carbon accounting. After field investigations and reviewing documents, Yimeng collected the data needed and created a carbon audit template for Huafeng. He used it to assess the carbon emission of Huajin (Huafeng’s dyeing and finishing industrial park), simulated the emission reduction effects of energy transitions, and set benchmarks.
- Huafeng wanted to know the influence of the incoming national ETS. Yimeng reviewed reports and consulted experts to build a scenario analysis model to estimate the financial influence of carbon marketing on Huajin in the following ten years.
- Yimeng also invited his supervisor, Prof. Lei Shi, to visit Huafeng and gave insights on carbon neutrality roadmaps.
Potential Impact
In Yimeng’s carbon audit, he found a 15% carbon intensity reduction potential in dyeing and finishing in the next five years with renewable electricity and efficiency improvement, which will save 89% of carbon marketing costs by 2025. Further energy transition can reduce carbon intensity by 50%-85% and gain considerable benefits in the carbon market. These results gave confidence to decision makers to promote the solutions in Yimeng’s proposal.Yimeng also found improvement opportunities in the company’s management system and proposed practical advice.