There will possibly be a value assigned to carbon reduction and it comes amid recent discussions on reviving the stalled offsets market, he said. The renewed emphasis on controlling carbon emissions is “highly likely” to be positive for independent renewable power producers, Daiwa Capital Markets said in a note by analysts including Dennis Ip. The remarks come before US Climate Envoy John Kerry’s visit to China later this month for talks on global warming ahead of a United Nations climate conference in November. That’s as they also strive to maintain power supplies during extreme summer heat. His decision to emphasize the country’s climate targets, which call for China to peak emissions before 2030 and hit net zero by 2060, is an indication Beijing will expect regions to maintain progress on curbing pollution. China’s new power system will need to offer clean, safe, abundant supplies that are economically efficient, flexible and promote self-sufficiency, Xi was cited as saying.
There needs to be better regulation of energy consumption and a gradual shift toward “dual control” - typically the setting of specific targets - for both the total volume and intensity of carbon emissions, Xi said Tuesday at a meeting on deepening reforms, according to a transcript from Xinhua.Įven as it raises domestic oil and gas production, China needs to also accelerate the adoption of cleaner energy sources and gradually lower the share of fossil fuels, according to the transcript. (Bloomberg) - China’s President Xi Jinping called for greater efforts to curb carbon dioxide emissions, a signal the biggest polluter won’t backslide on climate targets even as it turns to fossil fuels for energy security
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