In order to promote China’s low-carbon green development and deal with global climate change, in September 2020, Chinese President Xi Jinping proposed that “China will increase its national independent contribution, adopt more powerful policies and measures, strive to reach the peak of carbon dioxide emission by 2030 and strive to achieve carbon neutrality by 2060”, and officially submitted China’s emission reduction schedule to the world.
Carbon peaking refers to the process that the carbon emission does not increase after reaching the peak and gradually decreases. Carbon neutralization means that the future “carbon emission” and “carbon absorption” of each object are equal within a specific time. Only when China has achieved the carbon peak goal can it carry out carbon neutralization. The earlier the former is realized, the more conducive it is to the promotion of the latter process.
Power, industry and transportation are the three largest areas of carbon emission in China, which means that in the next 40-50 years, China will focus on the reform of energy conservation and emission reduction in the above three areas, which also gives birth to new opportunities for the development of low-carbon or zero carbon technologies. According to the blue book of zero carbon China Green Investment released by China Investment Association, carbon neutralization will bring 70 trillion yuan of green investment. Such a huge investment in green and low-carbon industries will introduce Shanxi Guoxin Energy Corporation Limited(600617) industries (such as photovoltaic, wind power, energy storage and hydrogen energy) into the fast lane of rapid growth, and will also promote China’s industry (e.g. iron and steel) industrial upgrading and research and development of low-carbon technologies, the transportation field will face a new pattern of new energy vehicles gradually replacing traditional fuel vehicles. In addition, forestry carbon sink and CCUs technology will also make great progress to enhance carbon absorption capacity and ensure the smooth achievement of China’s dual carbon goal.
The new power system fully supports the realization of the carbon neutralization goal of the power industry
The new power system is a power system with photovoltaic, wind power and other new energy as the main body, which is reflected in “new energy”, “new technology”, “new value” and “digitization”. It has the capacity to carry a high proportion of new energy power generation, consumption and storage. At the same time, it can ensure the stable power supply and fully support the realization of the carbon neutralization goal of the power industry.
The iron and steel industry is the main force to achieve the goal of carbon neutralization
As an energy intensive industry, the iron and steel industry is the industry with the highest carbon emissions in the whole industrial production activities except the power industry (about 43%), accounting for about 18% of the national carbon emissions, about 1.8 billion tons. Therefore, the implementation of the carbon emission reduction target of the iron and steel industry is the top priority and the main force to achieve China’s goal of “double carbon”.
Green transformation is the fundamental path to achieve the dual carbon goal in China’s transportation field
In 2019, the carbon emission of China’s transportation industry accounted for about 10% of the whole industry. With the acceleration of China’s urbanization, the market demand for private cars has increased. In the past nine years, the carbon emission of China’s transportation industry has increased by an average of 5%. Considering that China’s urbanization process is still advancing and the number of motor vehicles is increasing due to economic development, the pressure of emission reduction in the transportation field is increasing. In order to achieve the double carbon goal in the field of transportation, it is imperative to promote the green transformation of China’s road transportation.
