Abstract

Global climate change mitigation and CO2 emission reduction have promoted the revolutionary transformation in energy system. The core content of energy system revolutionary transformation is to replace the high-carbon energy system dominated by fossil energy with low-carbon energy system dominated by new and renewable energy and finally realize the near-zero emission of CO2 . The new energy system transformation has also led to a reform in global economic and social development patterns. Developing low-carbon economy becomes the fundamental strategy of sustainable development under climate risk management and the only solution to getting on the road from industrial civilization to ecological civilization. China intends to achieve the peaking of CO2 emissions around 2030 and increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030. Guided by the targets, China directs its economy development to a low-carbon pattern. Therefore, new and renewable power capacity need to reach 1300 GW, and the electricity generated should be 4 times of that in 2013 with a continuous increase rate of 6%–8% around 2030. The pace of energy substitution need to be accelerated and efficient, safe, clean, and low-carbon energy supply and consumption systems should be established besides strengthened energy conservation and improved energy efficient. Therefore, reform need be deepened, favorable policy system and market mechanism for energy revolution and low-carbon development need be established, energy pricing mechanism should be reformed, and national carbon market should be formed to provide a favorable policy and market environment for low-carbon technology innovation and industry development.

Abstract

China has set the goal for its CO2 emissions to peak around 2030, which is not only a strategic decision coordinating domestic sustainable development and global climate change mitigation but also an overarching target and a key point of action for Chinas resource conservation, environmental protection, shift in economic development patterns, and CO2 emission reduction to avoid climate change. The development stage where China maps out the CO2 emission peak target is earlier than that of the developed countries. It is a necessity that the non-fossil energy supplies be able to meet all the increased energy demand for achieving CO2 emission peaking. Given that Chinas potential GDP annual increasing rate will be more than 4%, and Chinas total energy demand will continue to increase by approximately 1.0%–1.5% annually around 2030, new and renewable energies will need to increase by 6%–8% annually to meet the desired CO2 emission peak. The share of new and renewable energies in Chinas total primary energy supply will be approximately 20% by 2030. At that time, the energy consumption elasticity will decrease to around 0.3, and the annual decrease in the rate of CO2 intensity will also be higher than 4% to ensure the sustained growth of GDP. To achieve the CO2 emission peaking target and substantially promote the low-carbon development transformation, China needs to actively promote an energy production and consumption revolution, the innovation of advanced energy technologies, the reform of the energy regulatory system and pricing mechanism, and especially the construction of a national carbon emission cap and trade system.

Abstract

The Paris Agreement establishes a new mechanism for post-2020 global climate governance, and sets long-term goals for global response to climate change, which will accelerate worldwide low-carbon transformation of economic development pattern, promote the revolutionary reform of energy system, boost a fundamental change in the mode of social production and consumption, and further the civilization of human society from industrial civilization to eco-civilization. The urgency of global low-carbon transition will reshape the competition situation of worlds economy, trade and technology. Taking the construction of eco-civilization as a guide, China explores green and low-carbon development paths, establishes ambitious intended nationally determined contribution (INDC) targets and action plans, advances energy production and consumption revolution, and speeds up the transformation of economic development pattern. These strategies and actions not only confirm to the trend of the world low-carbon transition, but also meet the intrinsic requirements for easing the domestic resources and environment constraints and realizing sustainable development. They are multi-win-win strategies for promotion of economic development and environmental protection and mitigation of carbon emissions. China should take the global long-term emission reduction targets as a guide, and formulate medium and long-term low-carbon development strategy, build the core competitiveness of low-carbon advanced technology and development pattern, and take an in-depth part in global governance so as to reflect the responsibility of China as a great power in constructing a community of common destiny for all mankind and addressing global ecological crisis.