Energy Insider: China Sets Carbon Reduction Goals for Central SOEs

In today’s Caixin energy news wrap: Spot price of battery-grade lithium carbonate touches new high in China; the world’s largest pumped hydro energy storage station starts operation; leading wafer producer cuts prices further.

China sets carbon reduction goals for central SOEs

China outlined detailed carbon reduction goals for its 97 state-owned enterprises (SOEs) under the central government’s direct oversight. According to the guidelines issued Thursday, comprehensive energy consumption for every 10,000 yuan ($1,500) produced by a central SOE should fall by 15% by 2025 and carbon emissions by 18%. The share of renewable energy should rise to at least 50% by then. Production capacity expansions in energy-intensive sectors such as steelmaking, cement, plate glass and aluminum electrolysis will be tightly controlled.