China Releases Climate Policy Guidelines, Leading Way to Decarbonization in the Future
On October 24, the CPC Central Committee and the State Council issued the opinions on completely, accurately and comprehensively implementing the new development concept and doing a good job in carbon peak and carbon neutralization (hereinafter referred to as the opinions). On October 26, the State Council issued the action plan for reaching the carbon peak by 2030 (hereinafter referred to as the action plan). These two documents officially opened the process of building China's "1 + n" climate policy system. The opinions represents the overall program, namely "1", and the action plan leads a series of industrial policy documents to be issued, namely "n". The former is the overall work deployment for the two goals of carbon peak by 2030 and carbon neutralization by 2060, while the latter puts forward specific action plans for achieving the goal of carbon peak by 2030.
Both programmatic documents emphasize that carbon peaking and carbon neutralization should be carried out on the premise of giving full consideration to economic development and ensuring the security of energy supply.
Energy efficiency improvement is the first demand side decarbonization strategy
Energy efficiency improvement will release huge emission reduction potential and save energy costs for end users. The action plan clearly points out that China will continue to use and improve the "double control" system of energy consumption intensity and total amount, and help China achieve its double carbon goal through the strong synergy between energy conservation and efficiency enhancement and emission reduction.
Energy efficiency improvement will also be an important starting point for promoting industrial upgrading and in-depth structural adjustment. China will increasingly use energy efficiency benchmarks and benchmark values to force industrial upgrading and adjustment, so as to promote the comprehensive low-carbon transformation of the whole economy.
It is significant to consolidate and enhance the carbon sink capacity of ecosystem
China will consolidate the existing ecosystem carbon sequestration capacity and further enhance the increment of ecosystem carbon sequestration through returning farmland to forest and grassland, expanding the total amount of forest and grass resources and implementing restoration projects. *** "Ecological civilization construction" is a concept that takes environmental sustainability and nature protection as the foundation of economic development.
The action plan also proposes to establish and improve the ecological protection compensation mechanism that can reflect the value of carbon sequestration, and refers to the participation of carbon sequestration projects in the national carbon emission trading (ETS). This means that after the government reopens the application for new projects of China's certified voluntary emission reduction (CCER), natural carbon sink projects are likely to occupy a greater share in the composition of CCER projects.