The 2024 Shell “Empowering Progress: Discussing Energy Transition and New Quality Productivity” Summit was successfully held.

During the opening remarks of the forum, Hai Bo, a member of Shell’s Global Executive Committee and Director of Downstream and Renewable Energy Business, and Park Se-ryong, Vice President of Peking University, delivered video addresses respectively, expressing their congratulations and expectations for this high-level summit.

“In March of this year, Shell announced an update to its global energy transition strategy. Shell’s focus on ‘performance, discipline, and simplification’ is driving us to make clear choices—delivering more value with lower emissions, including how we can provide the energy needed for today’s economic and social development while building the energy systems of tomorrow,” said Qu Xuemei, Executive Vice President of Shell Group and Chair of Shell China Group, in her speech at the forum. “For the third consecutive year, Shell has achieved its target of reducing the net carbon intensity of the energy products we sell. At the same time, between 2023 and the end of 2025, we will invest between 10 billion and 15 billion U.S. dollars in low-carbon energy solutions, making us a key investor in the energy transition. China is one of the core markets in Shell’s energy transition strategy. Moving forward, we will continue to leverage the operational experience and strengths we’ve accumulated over our 130-year presence in China, and further promote the long-term, healthy development of our existing businesses. Driven by new-quality productivity, Shell is eager to join hands with all sectors and stakeholders to advance steadily and sustainably on the path of energy transition.”

Caption: Qu Xuemei, Executive Vice President of Shell Group and Chairperson of Shell China Group

Focusing on new-quality productivity, the energy transition is entering a pivotal turning point of qualitative change.

Since China proposed its “dual-carbon” goals four years ago, various sectors have been steadily exploring blueprints and key pathways for energy transformation, all in pursuit of the noble vision of a “net-zero future.” With the introduction of the concept of “new-quality productivity,” energy transformation urgently needs to further broaden its scope, deepen its impact, enhance its precision, and accelerate its pace. Undoubtedly, new-quality productivity is both an intrinsic requirement and an inevitable choice for achieving high-quality development.

During the keynote session of this forum, five domestic and international guests from various industries analyzed and interpreted topics related to energy transition and new-quality productivity, and shared insightful perspectives based on practical case studies.

Focusing on macroeconomic trends, Lü Wenbin, Director of the Energy Research Institute of the National Development and Reform Commission, discussed his thoughts on fostering and strengthening new-quality productivity from the perspective of the energy revolution. Tim Gould, Chief Energy Economist at the International Energy Agency, presented the latest findings from the IEA’s recently released “World Energy Outlook.” Drawing on practical experience, Huang Zhichang, Executive Vice President of Shell Group and President of Global Lubricants Business, shared Shell’s strategic advantages and leading technologies in the global lubricants business. Yang Yufeng, a specially appointed researcher at the Energy Research Institute of Peking University, focused on the topic of energy transition in Ordos, highlighting how new-quality productivity is driving local transformation across multiple dimensions—including industrial structure, energy storage, and carbon capture and storage. Finally, Laszlo Varro, President of Strategy and Long-term Planning at Shell Group, emphasized the importance of ensuring energy security and stability of the energy system amid the ever-changing energy landscape.

Caption: The five keynote speakers (from left to right): Lü Wenbin, Huang Zhichang, Tim Gould, Yang Yufeng, and Laszlo Varro.

New power technologies and new-quality productivity are driving the electrification transformation.

As the global energy transition accelerates, energy consumption on the demand side is increasingly shifting toward electricity, with sectors such as residential, transportation, and industry all moving toward electrification. How new forms of productive forces will influence the growth of electricity demand and help achieve the “dual carbon” goals has become one of the key areas of focus in the industry.

At the roundtable forum titled “Energy Transition and Electrification,” moderated by Yin Shurong, producer of First Finance’s “Chief Commentary,” Yang Lei, Deputy Director of the Energy Research Institute at Peking University, Li Weiyang, Deputy Director of the State Grid Energy Research Institute, Cui Yi, Member of the U.S. National Academy of Sciences and Professor in the Department of Materials Science and Engineering at Stanford University, Liu Xiaoshi, Executive Deputy Secretary-General of the China Electric Vehicle 100 People Association, Liu Yongdong, Deputy Secretary-General of the China Electricity Council, and Hu Chuan, Vice President of Retail and Mobility at Shell Group and President of Shell China Retail and Mobility Business, jointly explored the electrification trend from multiple angles, focusing on “new-quality productivity.” They proposed solutions for building a future green energy system through the use of new and renewable energy sources, and engaged in an in-depth discussion on the opportunities and challenges brought about by the rapid development of the electric vehicle sector.

Caption: “Energy Transition and Electrification” Roundtable Forum

Industry-wide carbon reduction: New-quality productivity ushers in a new chapter of transformation.

Industry is the leading sector of the national economy and also the primary source of energy consumption and carbon dioxide emissions. Therefore, decarbonizing industry has become an essential task for achieving the “dual-carbon” goals.

At the roundtable forum on “Industry Decarbonization and New Quality Productivity,” Yang Fuqiang, Senior Advisor for the Climate Change and Energy Transition Program at the Institute of Energy Research at Peking University, served as the moderator and joined five guests to discuss how new quality productivity can be leveraged to drive industrial decarbonization and help traditionally difficult-to-decarbonize sectors achieve competitive advantages and upgrades.

Wang Huifeng, Chief Engineer of Offshore Oil Engineering Co., Ltd.; Chai Maorong, Chief Technology Officer of State Power Investment Corporation Hydrogen Energy Company; Ian Huh, Executive Vice President of South Korea’s SK Group; Liu Zhoubin, Deputy Director of the Science and Technology Innovation Center of State Grid Zhejiang Electric Power Co., Ltd.; and Chen Bin, Vice President of Lubricants at Shell Group and President of Shell’s Lubricants Business in Northeast Asia—each, drawing on their respective companies’ practical experience, shared insights into how “new-quality productivity” is influencing real-world business operations and technological innovation, thereby helping to accelerate the decarbonization process in the industrial sector.

Caption: Roundtable Forum on “Industry Decarbonization and New Quality Productivity”

“Countries remain firmly committed to achieving net-zero visions, and China is actively promoting the energy transition and has already achieved remarkable results. We believe that concepts such as innovation-driven green development, industrial upgrading, digitalization, and intelligentization are not only vital components of a new quality of productive forces but also resonate closely with the economic development policies of various countries,” said Jin Zhijun, an academician of the Chinese Academy of Sciences and Director of the Institute for Energy Research at Peking University, in his speech at the forum. “We look forward to sharing the latest insights and case studies from both the international and Chinese energy sectors through this conference and listening to valuable experiences from around the globe. We are confident that through in-depth exchanges and mutual learning, we can make joint progress and contribute to building a cleaner, more efficient, and sustainable energy future. The energy transition faces numerous challenges, yet human wisdom is more than sufficient to meet these future challenges. The future is promising, and technology holds great promise.”

Caption: Jin Zhijun, Academician of the Chinese Academy of Sciences and Director of the Institute for Energy Research at Peking University

 

To the Editor

Follow @ShellChina on WeChat Video Channels to watch the replay of the 5th Peking University Energy Forum and the Shell China “Empowering Progress—Discussing Energy Transition and New Quality Productivity” Summit Forum.