Source: China Economic Net. December 30, 2021

   (Reporter Ma Changyan, December 29) Today, REPORT ON THE PEAK CARBON EMISSION AND CARBON NEUTRALITY (2021) (hereinafter referred to as the "Report"), jointly organized by the China Center for International Economic Exchanges (CCIEE) and the State Power Investment Corporation (SPIC), was officially released.

   The report concludes that there is a global consensus to promote the realization of carbon peaking and carbon neutrality. In November 2021, China and the United States issued U.S.-China Joint Glasgow Declaration on Enhancing Climate Action in the 2020s, committing to strengthening climate cooperation and defending the achievements of the Paris Agreement, thus preventing the Glasgow Conference from being reduced to empty talk and demonstrating the role of a great power. China's top-level design for carbon peaking and carbon neutrality has been gradually improved, and the idea of promotion has become clearer. In October 2021, the Central Committee of the Party and the State Council jointly issued the Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality in Full and Faithful Implementation of the New Development Philosophy, and the State Council issued Action Plan for Carbon Dioxide Peaking Before 2030, these together constitute a top-level design that cuts across the two phases of carbon peaking and carbon neutralization.

   The report suggests that continuous promotion of industrial restructuring, energy restructuring and implementation of energy saving and efficiency improvement are the key paths to achieve the goals of carbon peaking and carbon neutrality. In summary, it can be expressed as "optimize production, reduce coal, stabilize oil, increase gas, add new energy and improve efficiency", i.e., optimize the industrial structure, gradually reduce coal consumption, stabilize the scale of oil consumption, increase the scale of natural gas consumption, increase the proportion of new energy consumption, such as wind and light, and set up a long-term mechanism for energy conservation and improvement of energy efficiency.

   According to the report, if China is to achieve carbon peak in 10 years and carbon neutrality in 30 years, it will face six major challenges, including heavy industrial structure, coal-based energy structure, low energy efficiency, insufficient green and low-carbon technologies, imperfect institutions and mechanisms, and severe external environment. We should take into account China's coal-rich, oil-poor and gas-poor energy resource endowment, adhere to the first to establish and then break, stabilize the stock, expand the incremental increase to ensure national energy security and economic development as the bottom line, and strive for time to achieve the gradual substitution of new energy sources, and to promote a smooth transition to a low-carbon transition of energy.

   First, we will promote carbon peaks and carbon neutrality according to local conditions, and avoid "one size fits all" and "carbon rush". Secondly, we will speed up industrial restructuring and strictly control the "two high" industries. Third, we will adjust the energy structure to create a clean and efficient modern energy system. Fourth, we will emphasize energy conservation and improve energy efficiency, and realize the change from "double control" of energy to "double control" of total carbon emissions and intensity. Fifth, we will actively promote technological breakthroughs and innovations in electrification, new fuel substitution and negative carbon. Sixth, we will strengthen international cooperation in technology, policies, standards and rules. Seventh, deepen reforms and accelerate the construction of an electric power system adapted to the large-scale development of new energy.