Adidas And Other Multinational Companies Join China'S Environmental Protection Projects

A new project launched by the US government is attracting multinational companies. This project aims to help Chinese factories reduce carbon emissions and create business opportunities for the environmental services industry in the United States and other countries. Adidas and other multinational companies join China's environmental protection projects.

The idea of this project is to arrange for Chinese business partners with limited environmental technology to reduce pollution by outsourcing.

The project, P2E2, will play a bridge role between Chinese factories and western capital and experts to help them upgrade equipment, reduce pollutant emissions and improve energy efficiency.

As other companies began to accept the P2E2 project, multinationals, including Adidas, a shoe making company such as Adidas, are also exploring ways to encourage their suppliers to participate in P2E2 projects.

According to the current momentum, China will replace the United States as the world's top carbon emitter.

These Chinese factories that supply shoes, electronic products and other products to the world generally rely on highly polluting coal-fired power plants.

Carbon emissions from Chinese factories are attracting increasing attention as the world struggles with global climate change and greenhouse gas emissions that will cause climate change.

The US government will play an intermediary role in this project, bridging the gap between factories and capital and services.

For example, the P2E2 forum held in Hongkong last Saturday provided opportunities for US companies and potential partners to meet.

The P2E2 project is based on a set of unconventional financing mechanisms.

For the environment and Energy Service Companies that have experience and technology to help improve the energy efficiency of Chinese factories, they will receive financial and loan support from banks and equity investors.

The International Financial Corporation (IFC) of the World Bank (WorldBank) will provide loans for P2E2's Asian project loan.

According to ABPInvestments, Holland's largest retirement fund, according to a plan to support investment in the field of innovation, P2E2 meets its investment standards.

Under the P2E2 project, Environment Services Inc will improve the equipment for Chinese factories free of charge, and the cost will be part of the energy cost saved by the factory after the equipment is improved.

These Environment Services Inc then use the money to repay bank loans or return as equity investors.

Shi Dehua, a commercial counselor of the US Consulate General in Hongkong, explains StewartBallard: "if you are running a plastic factory, I am afraid it will not reduce pollution as the core business".

There are also doubts about whether China's factories are interested in participating in the project, because it involves the cost of saving part of the new technology to Environment Services Inc.

LynIp, Asia's Environmental Affairs Manager, said that the promotion of the project takes a long time.

However, under the urging of multinational companies, the supply factories will participate in the project.

According to IP, it is obvious that this is not an order. We do not stipulate that we must participate in this project.

Adidas launched its P2E2 project in 307 Chinese enterprises at the beginning of its P2E2 project, but will also be open to Asia and other regions, but all parties must have a legally registered status in Hongkong.

This provision helps the P2E2 project get the support of the Chinese government, and the latter does not have to bear any cost in the project.

Hongkong belongs to the Chinese Special Administrative Region and has a more pparent judicial and financial system. These are the places to implement the P2E2 project.

U.S.CommerceDepartment officials want to open the Asian market for the clean technology industry in the United States through this project.

Bohigian, assistant secretary of Commerce of the US Department of Commerce (DavidBohigian), is leading several dozen US companies to visit China and India, and Caterpillar Inc, CaterpillarInc. and MariscoCapitalManagement are among them.

Mr Bo said that if the scale of funds invested in energy infrastructure in the next 25 years is measured, its potential business opportunities are unprecedented.

He said he expects to invest about $1 trillion a year in energy infrastructure by 2025.

Equity investors will be able to invest in P2E2 projects through the Multilateral Investment Guarantee Agency (MultilateralInvestmentGuaranteeAgency) under the world bank and OverseasPrivateInvestmentCorp. under the US government.

MichaelFriedlander, chief operating officer and chief financial officer of ABPInvestmentsAsiaLtd, a subsidiary of ABPInvestments in Hongkong, said he hoped that the spark of the P2E2 project could become a prairie fire. Michael said

Adidas is currently promoting P2E2 projects among more than one thousand manufacturers in its global supply chain, including 307 Chinese factories.

Yip said to show these factories the economic benefits of P2E2 projects.

And the environmental benefits are crucial.

If the economy is not profitable, the plan will be difficult to achieve.

She said Adidas is also working with the sports apparel industry and other companies outside the industry to popularize the knowledge of P2E2 projects.