Kingfa Won the Recognition of Excellence of 2019 Paulson Sustainability Award

On the evening of November 21st, the award ceremony of the 6th Paulson Sustainability Award, co-sponsored by the Paulson Institute and Tsinghua University, was held in Beijing. Among them, the “Project Double Million: Plastic Waste Recycling and Reprocessing” operated by Kingfa has stood out from more than 100 innovative solutions and won the Recognition of Excellence of 2019 Paulson Sustainability Award. It is the first award-winning material project since the establishment of the Paulson Award.

At the ceremony, Mr. Henry Paulson, Chairman of the Paulson Institute, presented the award to Chairman Yuan Zhimin.

In September, the Paulson Institute delegation visited Kingfa for final evaluation of the 6th Paulson Sustainability Award. The independent review committee evaluates the project from five dimensions: environmental impact, innovation, scalability, financing mechanism and social benefits, especially the demonstration role and scalability in China and even the world.

The “Project Double Million” of Kingfa uses advanced technology to process plastic waste into environmentally-friendly and high-performance recycled plastic, which is widely used in electronics, textiles, home appliances and automobiles to solve the problem of plastic garbage. With this project, the performance of waste plastics can be equal or close to original resin, which will realize the recycling of waste plastics to new products, thus greatly reducing the production of new plastics. Meanwhile, the project promotes the establishment and improvement of the upstream recycling network, and builds a sustainable circular economy model, which can be replicated globally. The project plans to achieve an annual output of 1 million tons of environmentally-friendly high-performance recycled plastics in 2030, and achieve annual recycling volume of 1 million tons.

Recycled plastic is one of the six core products of Kingfa. As a leading company in advanced polymer materials, in June 2013, Kingfa established Guangdong Kingfa Sci. & Tech. Co., Ltd. in Qingyuan City (Shijiao Town) with a total investment of 10 billion yuan to produce high value-added waste plastics with high-quality use on resources. Guangdong Kingfa is now an advanced polymer material industry demonstration base with an output value of 30 billion yuan, which has been listed in the “Guangdong Key Construction Project” and “Qingyuan City Key Construction Project” for three consecutive years.

In June 2014, Guangdong Kingfa was awarded the “100 Key Enterprises for Comprehensive Utilization of Resources” by the National Development and Reform Commission. In October 2015, the State Key Laboratory of High-Quality Utilization of Polymer Materials was established in Guangdong Kingfa.

From November 20 to November 22, the 2019 Innovation Economic Forum jointly organized by Bloomberg and China International Economic Exchange Center was held in Beijing Yanqi Lake. Yuan Zhimin, Chairman of Kingfa, was invited to attend the forum to receive the Paulson Award.

The forum aims to provide a unique platform for global political and business leaders to focus on topics including global economic governance, trade, technology, capital markets, climate change, inclusive development and urbanization, to discuss and propose practical solutions. The forum attracted about 500 influential government officials, corporate executives, technology innovators and experts from 45 countries and regions around the world, including 120 chairmen or CEOs of from 43 industries.