News Release
07 Jun 2021

Everbright Environment Signs Memorandum of Understanding with Asian Development Bank, in Joint Efforts towards Ocean Health and A Sustainable Marine Ecosystem in Asia

7 June 2021, Hong Kong – China Everbright Environment Group Limited ("Everbright Environment" or the "Company", stock code 257.HK), is pleased to announce that the Company today signed a memorandum of understanding ("MoU") with Asian Development Bank ("ADB") for a strategic cooperation towards circular economy and the reduction of marine debris, in joint efforts to foster and promote ocean health in Asia.

Under the frame work of the aforementioned MoU, Everbright Environment and ADB, guided by the "Blue Economy" for ocean protection, will embark on extensive and deep discussion, explore multi-level cooperation leveraging complementary advantages, and develop a collaboration mechanism, in a bid to strengthen the sustainability and resilience of the solid waste management system in Asia. Both parties will proactively raise awareness of the critical role that solid waste treatment plays in protecting ocean health, and carry out research works and case studies that aim at reducing marine debris, ultimately contributing to the reduction of marine debris from the land and reducing associated impacts to marine life, coastal livelihoods and human health. The entire project aims to promote the circular economy and improve the overall health of the ocean.

Following its foray into the environmental protection industry 18 years ago, Everbright Environment has become a leading industry player. The Company has developed a series of environmental protection projects focusing on various areas including solid waste treatment and water treatment. It has also initiated various business models, including the "Five Points in One Line" process model for waste sorting. These have effectively reduced the amount of waste and debris and improved the efficiency of waste recycling, which has helped to reduce the negative impacts to the planet and positively contribute to the environmental protection of the ocean. As one of the initiators of the ocean health strategic works in Asia, Everbright Environment plans to use case studies and other methods, based on facts and data, to continuously promote and demonstrate, among government authorities and local communities, the critical role solid waste management paly to promote circular economy, in a bid to make relevant parties understand the significance of solid waste management in reducing marine debris and safeguarding ocean health.

Mr. Christopher Thieme, Deputy Director General of the Private Sector Operations Department at ADB, said, "The ocean ecosystem faces severe threats from pollution and climate change, demanding urgent and sustainable solutions. By leveraging ADB and Everbright Environment's complementary expertise and resources, our partnership will spur advocacy for the circular economy and healthy oceans and disseminate crucial knowledge needed to develop blue economies."

Mr. Wang Tianyi, Chairman of the Board of Everbright Environment, said, "Times flies. Everbright Environment has been cooperating with ADB in the environmental protection sector for over a decade. The bank's capital, technological support and long-term trust have been an important source for the Company's strong development. The Company has also met its expectation and gradually grown into China's largest environmental protection enterprise, the world's largest waste-to-energy investor and operator, as well as a leading industry player in Asia and a world-renowned environmental group. The collaboration between the two parties this time underlies the alignment of ADB's strategies with Everbright Environment's development philosophy, further cementing the partnership. We look forward to cooperating with ADB in reducing marine debris, fostering blue economy collaboration, and promoting circular economy in the future, as well as taking this opportunity to improve the Company's strategic vision for business development. Everbright Environment will grow in tandem in the region and across the world and better engage in the environmental protection of the ocean, by bringing into play entrepreneurship that focuses on seizing the moment. Meanwhile, the Company will take the reduction of pollution and carbon intensity in the ocean as a starting point to better support China's pledge to achieve carbon emissions peak and carbon neutrality."