JinkoSolar is the First Solar Company to Sign on to the Global Framework Principles for Decarbonizing Heavy Industry

Rhea-AI Summary

JinkoSolar (NYSE: JKS) has become the first international solar company to sign the Global Framework Principles for Decarbonizing Heavy Industry, aimed at promoting clean energy in the heavy industry sector, a significant contributor to global emissions. Vice President Dany Qian emphasized the importance of renewable energy in this transition. The press release also highlights the role of governments in sustainable recovery programs and calls for collaborative actions to accelerate decarbonization. JinkoSolar aims to provide innovative clean energy solutions to facilitate this shift.

Positive

• First international solar company to sign the Global Framework Principles for Decarbonizing Heavy Industry.
• Positioning as a leader in promoting clean energy solutions.
• Commitment to support initiatives that reduce emissions in heavy industry.

Negative

• Ongoing industrial slowdowns due to Covid-19 could divert attention from sustainability efforts.
• Heavy industry decisions may lock in emissions-intensive production for decades.

SHANGRAO, China, Feb. 26, 2021 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company" or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it is the first international solar company to have signed on to the Global Framework Principles for Decarbonizing Heavy Industry ("Framework Principles"), as part of its efforts to continue supporting the decarbonization of the heavy industry sector in favor of a transition towards clean energy.

Mr. Dany Qian, JinkoSolar Vice President, commented, "I am honored to support the Global Framework Principles for Decarbonizing Heavy Industry on behalf of JinkoSolar. Renewable energy will be vital to decarbonizing the heavy industry sector, which creates nearly one third of global emissions. As a producer of zero-carbon energy sources, we are proud to be one of the first companies in China to support these Framework Principles and look forward to working alongside the rest of the signatories to raise global targets on decarbonizing the heavy industry."

As more countries and governments take more serious actions on climate change and are on the search for more effective ways to cut emissions, the progress has still not kept up with the worsening reality. In addition, the current Covid-19 crisis has led to a considerable slowdown in industrial activities and this threatens to divert attention away from the sustainable transition. Time is of the essence especially in heavy industries since long-term investment cycles mean that decisions made in the short-term could risk locking in emissions intensive production for decades to come.

Governments play a critical role in developing economic recovery programs to accelerate this progress:

1. Key targets for sustainable stimulus for the heavy industry include: incentives for energy efficiency; improving material recycling systems;
2. Funding and support for the development and demonstration of innovative clean technologies.
3. Legislation to eliminate emissions from energy intensive heavy industries, for example provisions in regulations (e.g. carbon market, carbon prices and emission trading schemes).
4. Sectoral agreements (e.g. formal international commitment to reduce emissions in a sector).
5. Green certificate and emission trading schemes.
6. Tariffs or tax based on carbon dioxide emissions.
7. Consumption-based regulations (e.g. requirements on a proportion of renewable energy in a company's billable power consumption).
8. International cooperation, such as technology transfer and sharing of best practices.

Through sound policy design and close co-operation among stakeholders, we believe that the progress of decarbonization will continue to accelerate as planned. JinkoSolar will continue to play an indispensable role in providing cheaper and smarter clean energy solutions to help companies in the heavy industry effectively move towards greener operations to combat climate change.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules, as of September 30, 2020.

JinkoSolar has 9 productions facilities globally, 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Kenya, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of September 30, 2020.

To find out more, please see: www.jinkosolar.com.

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:http://www.prnewswire.com/news-releases/jinkosolar-is-the-first-solar-company-to-sign-on-to-the-global-framework-principles-for-decarbonizing-heavy-industry-301236382.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is JinkoSolar's role in decarbonizing heavy industry?

JinkoSolar has signed the Global Framework Principles for Decarbonizing Heavy Industry, promoting clean energy solutions.

When did JinkoSolar announce its commitment to decarbonization?

JinkoSolar announced its commitment on February 26, 2021.

How does JinkoSolar plan to contribute to sustainability?

JinkoSolar aims to provide innovative clean energy solutions to facilitate the decarbonization of the heavy industry.

What are the risks mentioned in JinkoSolar's press release?

The press release notes that Covid-19 may slow down industrial activities, impacting sustainability efforts.

What is the significance of JinkoSolar being the first to sign these principles?

It positions JinkoSolar as a leader in the solar industry, advocating for strong measures against emissions in heavy industry.