Across The Border | Green business to reap China’s environmental policy rewards
New pollution targets and major clean up projects bode well for renewables and environmental infrastructure
China’s latest round of green policies offers opportunities for environmental and renewable energy companies, analysts say, although a tougher enforcement regime may trip up those who fail to adhere to the new rules.
Environmental protection is one of the eight priorities in this year’s Government Work Plan, while the 13th Five-Year Plan outline presented to the National People’s Congress also calls for stringent environmental regulations.
Hard targets on pollution back up these resolutions. In 2016, organic water pollutants will be cut by another 2 per cent while sulfur and nitrogen-based air pollutants may go down by 3 per cent. In addition, a significant cut in airborne particulate measure PM2.5 has also been ordered.
Over the next five years, water consumption, energy consumption and carbon dioxide emissions per unit of GDP should fall by 23 per cent, 15 per cent and 18 per cent, respectively. The number of days with good urban air quality is targeted to exceed 80 per cent by 2020.
It will be an expensive balancing act to maintain economic growth while reducing its environmental impact.
