Sequoia China Founder Calls for Science Research to Achieve Carbon Neutrality

Industrials Author: EqualOcean News, Yifan Zhang Editor: Tao Ni Mar 09, 2022 12:09 AM (GMT+8)

Governmental investment in technology is needed to implement national strategies concerning energy saving and emissions reduction, says Neil Shen

Sequoia Capital

Neil Shen, founder and managing partner of Sequoia Capital China, has proposed at the annual meeting of China’s top political advisory body on March 7 that cutting-edge scientific research is crucial to meeting the country’s goal of carbon neutrality and fostering the development of a green economy.

Shen is the only delegate from the venture capital industry to attend the meeting of the Chinese People’s Political Consultative Conference (CPPCC).

Shen said in his proposal that local governments across China should collaborate to  develop clean energy and provide sufficient funds for technological exploration.

He suggested that the government optimize the allocation of renewable energies by transmitting electricity from western to eastern China so as to lower carbon emissions and achieve common prosperity.

The venture capitalist also called for national and social investment in the construction of zero-carbon industrial parks in western China. 

These facilities, in his view,  will help attract enterprises from eastern areas and transform the green electricity and cost advantages into companies’ competitiveness and regional economic strengths.

Previously, the billionaire investor has submitted five proposals to be deliberated at the conference, touching upon issues ranging from the transformation of green and low-carbon technology to the potential of agricultural microorganisms, from drug innovation capability and application of brain science to digitalization-driven transition in the manufacturing industry.

Other than Sequoia Capital China, Chinese venture capital firms like Hillhouse Capital China (Chinese: 高瓴资本), Lightspeed China Partners (Chinese: 光速中国) and DT Capital Partners (Chinese: 德同资本) have a track record of investing in green technology.