What’s new: In order to meet the goal of “carbon neutrality” before 2060, China needs to accelerate phasing out coal plants that do not have carbon dioxide capture and storage technology associated with them, according to a report by the Chinese office of U.S.-based Energy Foundation on Thursday.
Such plants should be eliminated by around 2040-2045 along with coal consumption in other industrial sectors without carbon capture technology, the report added.
What’s the background: This September, President Xi Jinping said China aimed to reach peak emissions before 2030 and become “carbon-neutral” within the three ensuing decades. This has been seen as an audacious target for the world’s second-largest economy, which produced 28% of global carbon dioxide emission last year.
A professor from North China Electric Power University had previously suggested the country not approve any new coal power projects for the next five years, and a director of a government think tank said Beijing should review existing coal-powered projects in a bid to control capacity.
Contact reporter Lu Yutong (yutonglu@caixin.com) and editor Marcus Ryder (marcusryder@caixin.com)
