Tag: china

Green Fiscal Stimulus in Vietnam and China: Paper

Green Fiscal Stimulus in Vietnam and China: Paper

January 27, 2023 | ,

Using the case of two emerging economies, Indonesia and Vietnam, this paper investigates whether the stimulus plans align with a country’s sustainable energy and climate targets. This study finds that despite ambitious country targets for green energy transition, these countries may miss opportunities for a green future due to limited fiscal measures directed to green recovery. The pandemic has exacerbated public fiscal budgets that may further limit the capacity to fund green projects.

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Power System Decarbonization in Northwestern China: Report

Power System Decarbonization in Northwestern China: Report

December 16, 2022 | ,

China’s northwestern region is facing the challenge of transitioning from coal to renewable fuels. At the same time, the region is one of the most important energy bases in China, and about 28 percent of its total power generation is exported to other provinces. With the completion of cross-regional transmission lines and large energy bases, the proportion of exports will continue to grow. Therefore, power system decarbonization in the northwestern region will have a significant impact and will provide best practices for the national power system.

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Hydrogen Production with CCUS in China: IEA Report

Hydrogen Production with CCUS in China: IEA Report

November 23, 2022 | ,

Hydrogen and carbon capture, utilisation, and storage (CCUS) are set to play important and complementary roles in meeting People’s Republic of China’s pledge to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. Hydrogen could contribute to China’s energy system decarbonisation strategy, such as through the use as a fuel and feedstock in industrial processes; in fuel cell electric transport, and for the production of synthetic hydrocarbon fuels for shipping and aviation.

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Better data is key to success of China’s carbon market

Better data is key to success of China’s carbon market

September 28, 2022 |

China’s recently established national ETS has drawn tremendous attention worldwide. It is expected to serve as China’s primary tool to meet its “dual carbon” targets of CO2 peaking before 2030 and carbon neutrality before 2060. The largest ETS globally, it accounts for 40% of China’s emissions and more than 10% of worldwide emissions, with the potential to double in size once industrial sectors are added to the already-covered energy sector.

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The place of biodiesel as China eyes carbon neutrality

The place of biodiesel as China eyes carbon neutrality

September 14, 2022 |

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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China’s New Green Power Market Increases the Value of Renewables

China’s New Green Power Market Increases the Value of Renewables

August 24, 2022 |

To achieve its climate pledges, China has proposed building a zero-carbon power system, gradually upgrading the energy mix through reducing coal consumption and increasing renewable energy generation. In 2021, driven by both policy initiatives and market forces, China officially launched its green power trading market, ushering in a new wave of growth in green power transactions.

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China’s new green finance guidelines have a deforestation blind spot

China’s new green finance guidelines have a deforestation blind spot

August 3, 2022 |

On 1 June, the China Banking and Insurance Regulatory Commission (CBIRC) issued a new set of green guidelines. These lay out detailed expectations for banks and insurance companies to identify, monitor, prevent and control their environmental, social and governance (ESG) risks. Policymakers in China have been showing a growing interest in green finance. Traditionally, policies in the area have mainly focused on encouraging financial flows into supporting green, non-polluting and low-carbon businesses.

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China’s route to carbon neutrality: IRENA Report

China’s route to carbon neutrality: IRENA Report

July 27, 2022 | ,

In September 2020, China announced that it would aim to reach a peak in its carbon dioxide (CO2) emissions before 2030 and achieve carbon neutrality by 2060. Over the past decade, China has remained the world’s biggest producer and consumer of energy, while its energy-related CO2 emissions had grown to account for 28% of the global total preceding the COVID-19 pandemic.

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Making net-zero happen: How China can finance its transition

Making net-zero happen: How China can finance its transition

July 24, 2022 |

To achieve its ambitious carbon peak and carbon neutrality goals, China needs to close an annual funding gap of about RMB1.1 trillion ($170 billion). It can only do so if it manages to develop far more sophisticated green financing schemes. In China, bank lending is the backbone of corporate finance. Due to their risk-averse nature, banks tend to target large state-owned and private enterprises, meaning SMEs (small, medium enterprises) miss out on the funding — despite accounting for 65% of the country’s CO2 emissions.

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Cost declines in 2021 may not be repeated for solar PV and wind power in 2022: IRENA 

Cost declines in 2021 may not be repeated for solar PV and wind power in 2022: IRENA 

July 22, 2022 |

The cost declines seen in 2021 may not be repeated for solar PV and wind power in 2022, as supply chain constraints have been having an impact since late 2020, while commodity price rises accelerated in late 2021. These two factors saw equipment prices increase after experiencing lows in the first half of 2020, when the pandemic first took hold. Yet, the impact of these factors on projects commissioned in 2021 was not enough to raise the full year weighted average LCOE in many individual markets, nor at a global level.

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These 4 charts show the state of renewable energy in 2022

These 4 charts show the state of renewable energy in 2022

July 3, 2022 |

Nothing, it seems, can hold back the advance of renewable energy. A record amount of renewable capacity was installed in 2021, despite post-pandemic delays and rising raw material costs. Now the International Energy Agency (IEA) expects that record to be beaten again in 2022, at least in part as nations that have relied on fossil fuels from Russia, push ahead with new renewable capacity in response to the war in Ukraine.

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Strong Winds: Deciphering China’s booming wind industry

Strong Winds: Deciphering China’s booming wind industry

June 18, 2022 |

China’s wind market has witnessed a greater policy push in the recent times, encouraging greater innovation and investment in the sector. Certain advantages with regards to manufacturing of wind turbines have also contributed to China’s leading position in the segment. Given adequate policy and regulatory support, repowering activities can play a significant role in China’s wind market. Given the current trajectory, the country is likely to continue dominating the global wind energy market.

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Indonesia must push for renewables pivot from coal backers Japan and China

Indonesia must push for renewables pivot from coal backers Japan and China

June 1, 2022 |

On the surface, such competition between the regional powers may seem to have provided Indonesia with a golden opportunity to extract favourable terms to advance key projects. The theory, it would seem, is that this allows Indonesia to pit one side against the other, bringing about a competition that offers options such as generous financing terms and advanced engineering know-how, which would otherwise be unavailable under normal circumstances.

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Report on Decarbonizing China’s Road Transport Sector

Report on Decarbonizing China’s Road Transport Sector

May 31, 2022 | ,

According to the study, if China implements all its stated policies, road transport’s GHG emissions in 2060 would decline by 50 percent from the 2020 level. Further, if radical structural changes and vehicle electrification occur, road transport’s GHG emissions in 2060 would reduce by 95 percent from 2020’s level, fulfilling China’s 2060 carbon neutrality commitment.

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Robust Pumped Storage Growth To Reinforce Mainland China’s Renewables Growth

Robust Pumped Storage Growth To Reinforce Mainland China’s Renewables Growth

May 29, 2022 |

We have recently revised up our hydro-electric pumped storage generation and capacity forecasts for Mainland China, following positive developments in the sector. Mainland China is the top-performing market in Asia for pumped storage, with a total of 36.4GW of capacity as of end-2021. Over the coming years, we expect Mainland China’s hydro-electric pumped storage capacity to expand rapidly. In September 2021, the National Energy Administration (NEA) announced that it aims for hydro-electric pumped storage capacity to reach 62.0GW in 2025 and 120.0GW in 2030. 

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China floats a tender for 11.25 GW of offshore solar projects in Shandong Province

China floats a tender for 11.25 GW of offshore solar projects in Shandong Province

May 19, 2022 |

The Shandong Provincial Energy Administration has issued a request for proposals for the development of ten offshore solar photovoltaic (PV) projects with a total capacity of 11.25 GW. Binzhou, Dongying, Weifang, Yantai, Weihai, Qingdao, and other areas around Shandong’s coast will be developed for the projects. The pile-based fixed offshore solar projects in Shandong will be allocated through market competition. The bid submission deadline is June 1, 2022.

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China remains the global wind powerhouse

China remains the global wind powerhouse

May 11, 2022 |

China’s transition to a subsidy-free market in 2021 resulted in 34% less capacity installed in the country YoY (-24 GW), which heavily impacted the global total. However, the nearly 48 GW installed in China in 2021 indicates that strong market fundamentals remain despite the shift in policy. If we exclude China, the rest of the world added more than 47 GW of new capacity, a 14% increase YoY, driven primarily by significant growth in Asia Pacific (+134%), Northern Europe (+100%), and Latin America (+82%).

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Green Bond China Investor Survey 2022

Green Bond China Investor Survey 2022

April 19, 2022 | ,

Conducted with 42 investment institutions among largest domestic and international green bond investors, the survey reveals that satisfactory green credentials and credit fundamentals are top priorities for furthering the appeal of green bonds coming from China. The purpose of the series is to determine investor attitudes to green bonds and establish what is needed for the market to develop further.

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