China plans to inject $372 billion into energy conservation projects and anti-pollution policies over the next 3 three-and-a-half years, states a recent report by Reuters. According to the Chinese cabinet, these investments will take the country halfway towards meeting its goal of cutting energy intensity 16% below 2010 by 2015.
In particular, the investments will target emission reductions, energy efficiency, and recycling projects, with the ultimate goal of reducing Chinaâ€™s reliance on fossil fuels and reducing its carbon emissions.
And for a country like China, reducing carbon emissions is of paramount concern if we are to avert the worst impacts of climate change.
China has undergone rapid industrialization and development over the past 20 years â€“ development that has been fueled by dirty fossil fuels and pollution. As a result, China is currently the source of 29% of all CO2 emissions. Such a carbon intensive level of development cannot be sustained too much longer. Even China recognizes that if its per-capita emissions increase to US levels, it would be disastrous for the environment.
Thankfully, China has invested heavily into the green economy, with ambitious targets set for renewable energy and green infrastructure. It has also embarked on carbon reduction programs, with six Chinese cities and provinces launching CO2 emissions trading schemes over the next two years.
So not only is it actively attempting to reduce its carbon footprint, it is building itself a sustainable economy that will give it a competitive advantage in the future.
What are your thoughts on Chinaâ€™s recent investments into energy conservation and anti-pollution measures? Do you think these types of policies will have a sizeable impact on the countryâ€™s carbon footprint?
Image CC licensed byÂ eutrophicationÂ & hypoxia: Factory in China