China plans to increase the share of non-fossil fuels in its total energy mix to more than 80% by 2060, when it aims to become a carbon-neutral economy, according to guidelines published by the state-controlled Xinhua News Agency. The move is part of Beijing’s broader plan to reach peak carbon emissions by 2030 and reach net-zero by 2060. The report also reiterated China’s pledge to speed up the decline in its coal consumption.
According to the report, China would firmly curb the development of energy-intensive and emission-heavy projects. The government will control the capacity of coal power, petrochemicals, and coal-to-chemical industries. The country plans to hit a “plateau” of crude oil demand between 2026 and 2030. China will also accelerate the development of sectors, including new energy vehicles (NEVs) and next-generation materials. Meanwhile, investments in coal power, cement, steel, petrochemicals, and electrolytic aluminium will be strictly controlled, the report said, without providing further details.
