intends to continue lowering its carbon intensity, i.e., the amount of CO2 emitted for each US$ of gross domestic product ( China GDP) that the economy produces.
- The goal is to reduce the carbon intensity by 40-45% below the 2005 value by 2020. Averaged over this 15-year period, this corresponds to a reduction of 2.7-3% per year. This can arise from increased efficiencies in energy production and use from fossil fuels, and by increased production of energy from renewable sources.
- While this accomplishment would be
highly significant, the objective does not directly address
’s total CO2 emission rate. China
’s net annual rate of emitting CO2 is projected to grow between 2014 and 2040, with much of the increase occurring in the period up to 2020 (see the graphic below). China
- The average growth rate for
’s energy-related CO2 emissions from 2010 to 2020 is about 5.3% per year, comparable to the growth in overall energy consumption, about 5.5% per year. Note that these objective data already reflect any improvements in carbon intensity. China
- The national carbon market envisioned
would be far larger than any other carbon market operating in the world today. China
© 2014 Henry Auer