Why ‘it’s not mission impossible’ for China to achieve carbon-neutrality by 2060
- Jing Liu, HSBC’s senior economist tells South China Morning Post podcast how nation can hit target of net-zero carbon dioxide emissions
- She discusses green transition of world’s biggest producer of greenhouse gases in conversation with Khoa Tran of Sustainable Asia
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The central government of China has long included energy transition in its five-year plans, but the momentum has picked up since September 2020, when President Xi Jinping pledged to lead the country to carbon neutrality – meaning its net carbon emissions will reach zero – by 2060.
He reiterated his vision in a pre-recorded address to the United Nation this year, saying: “China will strive to [reach] peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.”
China remains the world’s biggest producer of carbon dioxide – releasing 27 per cent of all global greenhouse gas emissions in 2019, the research institute Rhodium Group reported. Most of the emissions were generated from burning coal, which is used to produce about 60 per cent of the country’s total energy supply.
The nation faced a major power shortage last September – caused by a combination of coal supply shortages and high demand for electricity from manufacturers, businesses and households – which highlighted the urgent need for China to make its transition to renewable energy supplies.
