Tag: carbon neutrality

The place of biodiesel as China eyes carbon neutrality

Prices for China’s biodiesel exports have been rising significantly, from less than 7,000 yuan (US$1,050) a tonne in January last year to a record high of over 12,000 yuan (US$1,723) in July this year. The average price in the first seven months of this year also exceeded 11,000 yuan. Biodiesel stocks have also done well on China’s own markets. The main reasons for this are the global trend towards low-carbon development and the Russo–Ukrainian war pushing oil prices higher.

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Carbon Neutrality in EU Energy System: Briefing

According to a recent European Parliamentary Research Service Cost of Non-Europe (CONE) report, ambitious and united European Union (EU) action in climate and energy policy could be very beneficial, bringing gains of up to 5.6% of gross domestic product (GDP), equal to €1 trillion additional GDP per year in 2050, compared to a continuation of the status quo.

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Energy Sector Roadmap for Carbon Neutrality in China

At the United Nations General Assembly in September 2020, China’s president announced that the country aims to have CO2 emissions peak before 2030 and to achieve carbon neutrality before 2060. This represents a significant stepping- up of the country’s climate ambitions. Previously, China’s nationally determined contribution (NDC) under the 2015 Paris Agreement aimed to achieve a peak in CO2 emissions by “around 2030 and making best efforts to peak early” but did not set a long-term target or goal.

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EC reviews 2030 NECPs: Focus on achieving EU carbon neutrality by 2050

To achieve the current EU 2030 targets, annual investments in energy during 2021-30 will need to increase by over 1 percentage point of GDP (or EUR260 billion) on average compared to the previous decade. For an increased GHG reduction target of 55 per cent, this amount would increase to EUR350 billion. The annual energy infrastructure investments are estimated at EUR59 billion.

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