Caixin
May 31, 2021 05:20 PM
CHINA

China to Set Annual Carbon Emission Budget Over Next Five Years

What’s new: China is planning to budget for carbon emissions annually over the next five years to meet its emission peak target before 2035, the environmental ministry said.

Li Gao, director at the Climate Change Department of China’s Ministry of Environment and Ecology, said in an interview with Chinese Newsweek magazine that China is preparing an action plan so that the country can arrive at peak carbon emissions before 2035.

The central government will design a “carbon budget” mechanism to allot emission allowances to local governments, industries and businesses from 2021-2035, Li said in the interview. The emission budget will be adjusted on an annual basis, he said.

What’s more: Li said that utilities and industries including chemicals, steel and cement, as well as construction and transportation, will be highlighted in the regulations. He also said local governments will be ordered to review the impact of approved major projects in the coal and petrochemical sectors in terms of emissions.

The ministry’s climate change chief vowed to “strictly and resolutely” control the polluting coal-fired power generation industry. However, he said that China’s energy mix, about 60% of which consists of coal, would not change in the short term. Maintaining coal power at a certain scale ensures the country’s energy security, he added.

Quick Takes are condensed versions of China-related stories for fast news you can use.

Contact reporter Lu Zhenhua (zhenhualu@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)

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