The national carbon market will be launched for trading as soon as possible, coal power projects will be strictly controlled, and the National Development and Reform Commission will also formulate a series of implementation plans for coal, electricity, steel, petrochemicals, chemicals, non-ferrous metals, building materials, construction, transportation, migrant workers, agriculture, and new rural infrastructure.
On the evening of April 22, President Xi Jinping delivered a speech titled "Jointly Building a Community of Life for Man and Nature" at the Leaders' Climate Summit. He mentioned a series of new measures China is prepared to take, including incorporating carbon peaking and carbon neutrality into the overall layout of ecological civilization construction, formulating a carbon peaking action plan, extensively and deeply carrying out carbon peaking actions, and supporting qualified regions, key industries, and key enterprises to peak first.
At the same time, China will strictly control coal power projects, strictly control coal consumption growth during the 14th Five-Year Plan period, and gradually reduce it during the 15th Five-Year Plan period. In addition, China has decided to accept the Kigali Amendment to the Montreal Protocol, strengthen the control of non-CO2 greenhouse gases, and will also launch the national carbon market for online trading.
That evening, the Ministry of Foreign Affairs held a briefing for Chinese and foreign media. Vice Minister of Foreign Affairs Ma Zhaoxu, China's Special Envoy for Climate Change Xie Zhenhua, Deputy Secretary-General of the National Development and Reform Commission Su Wei, and Director of the Climate Change Department of the Ministry of Ecology and Environment Li Gao introduced President Xi Jinping's participation in the Leaders' Climate Summit.
Xie Zhenhua mentioned that as a developing country with a population of 1.4 billion, unbalanced and inadequate development, and energy resources mainly based on coal, China faces great difficulties in achieving its nationally determined contributions and the vision of carbon neutrality, but is confident in fully implementing its commitments to address climate change.
Xie Zhenhua introduced that by 2020, the national carbon intensity had decreased by about 48.4% compared to 2005, the share of non-fossil energy in primary energy consumption reached 15.9%, significantly exceeding the 2020 climate action targets promised externally, creating favorable conditions for implementing national low-carbon policies under the Paris Agreement.
The preparation work for the national carbon market has entered a critical period.
Li Gao, Director of the Climate Change Department of the Ministry of Ecology and Environment, introduced the progress of building the national open carbon market at the meeting. Since 2011, the country has carried out carbon emission trading pilots in seven provinces and cities. As of March this year, it covers more than 20 industries and nearly 3,000 key emission enterprises, cumulatively covering 440 million tons of carbon emissions, with a total transaction amount of about 10.47 billion yuan, making it the largest carbon market in the world in terms of CO2 emission coverage.
At the end of 2017, the National Development and Reform Commission issued the "National Carbon Emission Trading Market Construction Plan (Power Generation Industry)," clearly taking the power generation industry as a breakthrough to carry out the construction of the national carbon emission trading market. At the end of 2020, the Ministry of Ecology and Environment announced the "Carbon Emission Trading Management Measures," issued supporting quota allocation plans and a list of more than 2,000 key emission units, officially starting the first compliance period for the national power generation industry.
In March this year, the Ministry of Ecology and Environment also released the "Guidelines for Verification of Enterprise Greenhouse Gas Emission Reports" to carry out verification and determination of enterprise greenhouse gas emission reports.
Li Gao revealed that the formulation of regulations related to carbon emission trading is also being actively promoted. Currently, the construction of the national carbon market has entered a critical stage, and rules related to registration, trading, and settlement will be released soon, further construction of the registration and trading system will be completed, quota allocation operation tests will be organized, and online trading will be launched as soon as possible.
At the end of February this year, Minister of Ecology and Environment Huang Runqiu publicly stated that to ensure the national carbon market launches online trading before the end of June this year, the schedule must be reversed, comprehensive docking tests carried out, and system operation realized as early as possible.
Strict control of coal projects and increased elimination efforts.
One of the important roles of launching the national carbon market is to promote the transformation of coal power and the elimination of outdated units through market-based means. Control measures for coal power projects are expected to gradually tighten in the future. At the summit, Xi Jinping stated that China will strictly control coal power projects, strictly control coal consumption growth during the 14th Five-Year Plan period, and gradually reduce it during the 15th Five-Year Plan period.
At the end of 2016, the energy development 13th Five-Year Plan proposed striving to shut down 20 million kilowatts of outdated coal power capacity during the 13th Five-Year Plan period, and to control coal power installed capacity within 1.1 billion kilowatts by 2020. By the end of 2020, the national total coal power installed capacity was 1.08 billion kilowatts, with an average annual growth rate of 3.7%. The proportion of coal power installed capacity in total installed capacity dropped from 59% at the end of 2015 to 49.1% at the end of 2020.
Deputy Secretary-General of the National Development and Reform Commission Su Wei responded to reporters' questions about the expected coal power installed capacity during the 14th Five-Year Plan period, The signal to strictly control coal consumption growth is very clear, but total coal consumption will still be in a growth phase during the 14th Five-Year Plan period, and is expected to gradually decrease during the 15th Five-Year Plan period.
To achieve climate goals, during the 14th Five-Year Plan period, China will continue to vigorously promote non-fossil energy, prioritizing non-fossil energy for new electricity demand. It will adhere to the principle of strictly controlling increments, control new coal power planning and construction, carry out energy-saving and emission reduction transformations of coal power units, continuously increase the elimination of outdated coal power units, and optimize coal power layout and structure.
Su Wei revealed that since the beginning of this year, China has entered an era of large capacity, high parameters, high efficiency, and ultra-low emissions in coal power transformation and upgrading, with power generation efficiency higher than other countries. In the future, it will continue to promote the low-carbon development of coal power and actively carry out pilot demonstration projects, including controlling and reducing emissions caused by coal consumption through carbon capture and storage technology.
Xie Zhenhua stated that in terms of energy saving and improving energy efficiency, over the past 20 years, China has accounted for more than 68% of the global total energy savings, has been the largest investor in renewable energy globally in the past seven years, with cumulative renewable energy installed capacity accounting for 33% of the global total, and in the transportation sector, the development of new energy vehicles is vigorous, with China holding more than 50% of the global stock.
"This shows China's determination and confidence in emission reduction," said Xie Zhenhua.
The National Development and Reform Commission will introduce a series of major policies.
Su Wei revealed at the meeting that the National Development and Reform Commission is currently rushing to formulate and introduce policies in several areas.
First, an important document related to the carbon peaking and carbon neutrality goals is being designed and introduced. The main purpose is to clarify relevant work requirements, strengthen responsibilities of all parties, and carry out policy construction that "grasps the overall situation and manages the long term."
Secondly, The National Development and Reform Commission is studying and formulating a specific action plan for carbon peaking before 2030. The focus is mainly on the goal of reaching peak CO2 emissions before 2030, reasonably determining peak targets for major fields and key industries, and organizing the implementation of several actions.
Under the framework of the carbon peaking action plan, a series of implementation plans for coal, electricity, steel, petrochemicals, chemicals, non-ferrous metals, building materials, construction, transportation, migrant workers, agriculture, and new rural infrastructure will be formulated and introduced.
On April 19, Meng Wei, spokesperson for the National Development and Reform Commission, proposed eight key tasks for advancing the top-level design of carbon peaking and carbon neutrality at the regular press conference in April.
First, promote the optimization and upgrading of industrial structure, continuously improving the level of green and low-carbon industrial development.
Second, vigorously adjust the energy structure and implement renewable energy substitution actions.
Third, adhere to and improve the dual control system of energy consumption, and focus on energy saving in key areas.
Fourth, increase efforts in scientific and technological research to promote major breakthroughs in green and low-carbon technologies.
Fifth, insist on the joint efforts of government and market, and improve the green and low-carbon policy system and market mechanisms.
Sixth, strengthen ecological protection and restoration, and enhance the carbon sink capacity of ecosystems.
Seventh, promote nationwide conservation and create a new trend of green and low-carbon lifestyles.
Eighth, strengthen international exchanges and cooperation, promote the construction of the Green Silk Road, and participate in and lead global climate and environmental governance.
Su Wei stated, The Development and Reform Commission is also studying and introducing relevant policy measures to support and guarantee carbon peaking and carbon neutrality work, mainly focusing on strengthening major technological research, ensuring energy security, enhancing ecosystem carbon sinks, building a green ecological society, and strengthening international cooperation.
At the same time, it will also study and improve investment, fiscal and tax, financial pricing conducive to operational low-carbon development, and increase the implementation efforts of carbon peaking and carbon neutrality work.
Source: Compiled from the internet
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