Experts Laud Plan for Carbon Reduction

A report from chinadaily.com.cn on May 31st, 2024:

The carbon reduction action plan released by the State Council on Wednesday signals a clear energy-saving roadmap and timeline, experts said on Thursday.

They highlighted that the relaxation of the requirement on the utilization rate of new energy may create about 74 gigawatts of new installations, bringing multiple benefits to key sectors.

The plan outlines that by the end of this year, energy consumption and carbon dioxide emissions per unit of GDP should decrease by around 2.5 percent and 3.9 percent, respectively.

Non-fossil energy is expected to weigh around 18.9 percent in total energy consumption by the end of this year, with key industries expected to achieve energy savings equivalent to about 50 million metric tons of standard coal and reduce carbon dioxide emissions by about 130 million tons.

By 2025, the proportion of non-fossil energy consumption should increase to about 20 percent of the total mix, the plan said.

“The plan demonstrates China’s strong commitment to a green transition despite challenges,” said Jin Li, vice-president of the Southern University of Science and Technology. “It highlights several key issues to be addressed, including optimizing the energy structure, upgrading industries and transforming energy consumption patterns. It calls for dealing with problems like reliance on fossil fuels, low energy efficiency and outdated production methods and technologies in some industries.”

To tackle these problems, the plan proposes specific solutions, including reducing fossil fuel consumption, increasing non-fossil energy use and implementing energy-saving and carbon-reduction actions in energy-intensive industries like steel, petrochemicals, construction and transportation. It also calls for refining policies and increasing financial support to facilitate China’s green transition.

“This action plan signals further development opportunities for sectors like decarbonization of fossil fuels, new energy, energy storage, environmental protection, green buildings and electric vehicles,” Jin said.