HANGZHOU, China, Sept. 27, 2023 /PRNewswire/ -- On September 26th, State Grid Zhejiang Electric Power Co., Ltd. formally released its action plan on the implementation of the Global Development Initiative (GDI). This unveiling comes shortly after the State Grid Corporation, its parent company, disclosed its own GDI strategy. Notably, the Zhejiang subsidiary is the first entity within the State Grid Corporation's portfolio to issue a plan.

As a wholly-owned subsidiary of the State Grid Corporation, State Grid Zhejiang Electric consistently emphasizes the priority of establishing electricity infrastructure in advance of an area being fully developed. This proactive approach ensures that development does not outpace the availability of power. Leading the way in building a new provincial power system, the company actively sets benchmarks by ensuring reliable electricity supply, transitioning to green and low-carbon solutions, and refining the business environment through a series of innovative practices.

With the publication of the GDI action plan, State Grid Zhejiang Electric presents its commitment and strategies toward achieving global sustainable development goals. The report delves into pressing global challenges, from sluggish economic resurgence and development disparities to the complexities of sharing developmental successes and the omnipresent threat of climate change. Drawing upon the innovative strategies and pioneering efforts of the State Grid in Zhejiang, the report provides a nuanced interpretation of the Global Development Initiative. In doing so, it both augments the global discourse on sustainable energy development and offers theoretical insights and actionable frameworks for Chinese companies embarking on GDI implementation.

Building upon the foundational tenets of the Global Development Initiative, the report uses the United Nations Sustainable Development Goals (SDGs) as its guiding benchmark. Balancing the triad of political, economic, and social responsibilities, the report delineates four key pillars of value: development, innovation, inclusion, and sustainability. It provides a comprehensive analysis of State Grid Zhejiang Electric's strategies, distinctive approaches, and noteworthy experiences from 2021 to 2023 in championing top-tier energy development in alignment with the GDI. The document underscores State Grid Zhejiang Electric's pioneering endeavors, highlighting its contribution to local economies through electricity-fueled growth, invigorating development via reformative innovations, fostering inclusive growth to ensure shared prosperity, and realizing a symbiotic relationship with the environment through sustainable transitions.

Moving forward, State Grid Zhejiang Electric will execute the strategic directives set by the State Grid Corporation, emphasizing its key role as a leading state-owned enterprise. The company aims to synchronize its growth strategy with both national and international development frameworks. Dedicated to a new depth of engagement, it seeks breadth, depth, and vigor in its contributions to worldwide development collaboration. The company is committed to taking actionable measures to help solve global development issues, respond to overarching challenges on the international stage, and champion a shared economic vision for the future.