In this year’s government work report, we called for a solid effort to achieve a carbon peak and achieve carbon neutrality. Carbon neutrality does not mean “zero emissions,” Xiao Gang, former chairman of the China Securities Regulatory Commission and a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), said at the 2021 National People’s Political Consultative Conference (CPPCC) economic policy forum held by the Beijing News on March 6.
Xiao Gang said that China has set the “3060” target of reaching the peak carbon neutrality. It is a very difficult task, which requires painstaking efforts and costs, and will bring great pressure to the adjustment and transformation of industrial structure. But we must also recognize that we have the conditions and the ability to achieve the goal.
He said that China has set a target of peaking its carbon emissions before 2030. The current carbon emissions are 10 billion tons, and some organizations estimate that the peak will be 10.6 billion tons, which means there is still room for an increase in the current total emissions, but not too much. The second is carbon neutral, not zero emissions, carbon emissions and carbon absorption basically balance, to achieve net zero emissions, that is to say, through afforestation or new technology and other absorption of carbon emissions becomes the key to achieve balance. For example, does not mean that no coal, the key is to speed up the development of clean coal utilization technology.
On the other hand, we need to see the huge opportunities. According to Xiao Gang, some institutions estimate that more than 130 trillion yuan of investment will be needed to achieve the carbon neutral target, which will be used to transform industries and develop new energy sources. The investment will account for about 2.5 percent of China’s GDP every year, which is a huge new growth point and new development opportunities.
“It is very important to speed up the development of key and core technologies, which is in line with our strategy of building an innovative country, overcoming bottlenecks in technologies and achieving self-reliance and self-improvement through scientific and technological innovation.” “Xiao Gang said.