Tag: clean energy in china

China’s route to carbon neutrality: IRENA Report

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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Transition Finance in China

The Climate Bonds Initiative and CECEP Hundred Technical Service (Beijing) Co., Ltd. (CECEP), with the support of UK PACT, presents the Transition Finance in China: latest development and future outlook report. Taking the Chinese steel sector as a case study, this report reviews the latest development of transition finance in China and discusses recommendations to enable a credible transition. 

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Year in review: China’s climate goals withstand heat

President Xi Jinping’s carbon neutrality pledge at the United Nations in September 2020 set in motion a massive build-up of national policy, legislation and regulation on decarbonisation, with unprecedented speed. Barely two months later, Xi announced a set of more ambitious 2030 targets at the Climate Ambition Summit. And then, in March 2021, China’s top legislators approved the 14th Five Year Plan (FYP) with a whole host of climate and energy targets for 2025.

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China has a grand carbon neutrality target but where is the plan?

As the world’s largest greenhouse-gas emitter, China will make or break the global quest for climate neutrality by the middle of the century – the only way to limit the global average temperature increase to 1.5°C. Consequently, President Xi’s announcement in September 2020 of China’s new objective to peak CO2 emissions before 2030 and achieve carbon neutrality by 2060 was broadly welcomed. But President Xi offered no detail on how China could turn this vision into reality, and an examination of China’s current plans shows clearly the goal will not be achieved without major changes.

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China’s Green Gambit

China’s ambitious climate pledges have drawn praise the world over. But China will demand a high price for its contributions and can be expected to use its promise of international cooperation to undermine any containment strategy that US President-elect Joe Biden’s administration tries to pursue.

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