Veolia Partners with Guangzhou Firm to Decarbonize Industrial Zone in China
GUANGZHOU, China – French environmental services company Veolia Environnement SA (VEOEY, VIE.PA) announced a partnership friday with Science City Guangzhou Investment Group Co., Ltd. to develop a decarbonization project within teh Guangzhou Growth Zone. The agreement, signed during President Emmanuel Macron’s visit to China, aims to showcase the economic benefits of industrial decarbonization and support China’s “dual-carbon” goals – achieving carbon peak and neutrality.
The project will focus on capturing and utilizing industrial flue gas,with an anticipated reduction of 200,000 tons of carbon emissions annually. Captured energy will be converted into steam and electricity for use by local businesses, creating an integrated pollution control and energy recovery system. Veolia will leverage its technologies to treat industrial emissions and ensure adherence to both national and local environmental standards.
The initiative is intended to serve as a replicable model for low-carbon development throughout the Greater Bay area. Financial details of the partnership were not disclosed.
Veolia Environnement shares closed down 1.04% at EUR 29.43 on the Paris Stock exchange Thursday.
