Green­house-cuts bill ‘could reach 41 tril­lion yuan’

China Daily (Canada) - - FRONT PAGE - By LAN LAN in Bei­jing and AMY HE in Washington

China’s post-2020 cli­mate ac­tion plan will be “quite am­bi­tious” and may in­volve es­ti­mated in­vest­ment of more than 41 tril­lion yuan ($6.6 tril­lion) by 2030, ac­cord­ing to a lead cli­mate ne­go­tia­tor.

The ac­tion plan is an­nounced by the end month.

The coun­try’s in­tended na­tion­ally de­ter­mined con­tri­bu­tion will dif­fer from those of other coun­tries be­cause it will an­nounce a se­ries of ob­jec­tives in ad­dress­ing cli­mate change up to 2030, Xie Zhen­hua said.

Xie, the spe­cial rep­re­sen­ta­tive for cli­mate change af­fairs, was tak­ing part in the Strate­gic and Eco­nomic to be of this Di­a­logue fo­rum in Washington DC.

“Not only will we have ob­jec­tives in our in­tended na­tion­ally de­ter­mined con­tri­bu­tion, we will also cover a lot of pol­icy is­sues and projects to reach these ob­jec­tives.

“I be­lieve that af­ter China’s an­nounce­ment of its INDC, you will see that our ob­jec­tives are quite am­bi­tious,” Xie said at a media brief­ing on Tues­day. He also said it is likely to cost the coun­try more than 41 tril­lion yuan to meet the green­house gas re­duc­tion goals.

An of­fi­cial at the Na­tional De­vel­op­ment and Re­form Com­mis­sion, who did not want to be named, said, “The 41 tril­lion yuan is a rough es­ti­mate from ex­perts.

“The fig­ure largely refers to in­vest­ment in pro­mot­ing energy con­ser­va­tion and ef­fi­ciency in in­dus­try, trans­porta­tion and con­struc­tion as well as in­vest­ment in nu­clear and re­new­able energy by 2030,” the of­fi­cial said.

In a joint an­nounce­ment by Pres­i­dent Xi Jin­ping and his United States coun­ter­part Barack Obama in Novem­ber, China set tar­gets for car­bon diox­ide emis­sions to peak around 2030 and to in­crease the share of non-fos­sil fu­els in pri­mary energy con­sump­tion to about 20 per­cent by that year.

US Sec­re­tary of State John Kerry said on Tues­day that the two coun­tries have been work­ing “ex­tremely ef­fec­tively to­gether” since their joint an­nounce­ment on com­bat­ing cli­mate change — pre­sent­ing both with great eco­nomic op­por­tu­ni­ties.

US Trea­sury Sec­re­tary Jack Lew, Chi­nese State Coun­cilor Yang Jiechi and Vice-Premier Wang Yang took part in the dis­cus­sion.

Yang said the an­nounce­ment “not only pro­moted our co­op­er­a­tion in tack­ling cli­mate change, but also our co­op­er­a­tion on green and low-car­bon eco­nomic growth”.

China will con­tinue to save energy and raise ef­fi­ciency, in­crease for­est car­bon stocks, cut car­bon in­ten­sity, and fo­cus on ef­forts to pro­mote a green econ­omy, he said.

Wang said China’s core ac­tion in tack­ling cli­mate change from an eco­nomic per­spec­tive is to “shift its growth model”, adding, “We must change our phi­los­o­phy of ‘pol­lu­tion first and so­lu­tion later’.’’ Con­tact the writer at lan­lan@ chi­

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