Latest from ChinaFAQs
This week China launched its first pilot emission trading program. This development is potentially a major marker in China’s efforts to reduce greenhouse gas emissions.
The Shenzhen Emissions Trading Scheme (ETS) program will cover some 635 industrial companies from 26 industries. This is the first of seven proposed pilot GHG cap-and-trade schemes in China, which China has been developing since 2011.
China is attempting to dramatically increase the country’s renewable energy supply by 2015. Recently released data shows that China made progress towards reaching this goal in 2012. China continues to make large investments in renewable energy, with over 80% more investment than the U.S. last year. China remains the country with the world’s most installed wind capacity, and it is neck and neck with the U.S. in terms of installed solar PV capacity.
This past weekend the White House announced the signing of a new agreement between the United States and China on hydrofluorocarbons, or HFCs, which are highly potent greenhouse gases commonly used in air-conditioning units and refrigerators.
This new agreement is very big news.
China’s 12th Five Year Plan includes an array of energy targets that it hopes to achieve by 2015. The targets, such as increasing the share of non-fossil energy to 11.4% of the total energy supply and cutting the economy’s carbon intensity by 17% by 2015, are part of a larger plan for China to reach a 40-45% reduction in carbon intensity by 2020 relative to 2005 levels. ChinaFAQs expert Trevor Houser has crunched the numbers provided by China’s National Bureau of Statistics and come up with a report card on the country’s progress towards achieving its climate and energy goals.
The following is a press release from the White House:
Today, President Obama and President Xi agreed on an important new step to confront global climate change. For the first time, the United States and China will work together and with other countries to use the expertise and institutions of the Montreal Protocol to phase down the consumption and production of hydrofluorocarbons (HFCs), among other forms of multilateral cooperation.
This post originally appeared on Forbes.com.
When President Obama and China’s President Xi Jinping meet in California this week, they will be seeking to build trust and chart a course for improved relations. While tensions abound over various issues, clean energy and climate is one area where cooperation can work.
This post originally appeared on WRI Insights.
It’s well-known that China ranks first in the world in attracting clean energy investment, receiving US$ 65.1 billion in 2012. But new analysis from WRI shows another side to this story: China is increasingly becoming a global force in international clean energy investment, too.