In 2050, carbon emission intensity or energy expenditure per unit of GDP in China's power sector, will decline to 5 pct of that in 2005, the Bloomberg report says. (Source: Bloomberg, China Daily, 10 July, 2019)
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In 2017, China's carbon intensity, measured in kilograms of carbon emitted to produce $1 of gross domestic product, was 46 pct lower than in 2005, fulfilling the country's goal to cut carbon emissions by 40 to 45 pct by 2020.
The report notes that despite the gradual decrease, China's carbon intensity level is still higher than that of developed countries. The report also found China, followed by the United States, are the world's top carbon emitting countries among the world's major economies, producing around 2.77 and 1.45 billion tons in 2016.
According to the report,
more than 1,700 power companies, accounting for more than 3 billion tons of carbon emissions, had entered China's pilot carbon market by the end of 2017. The market allows the trading of carbon emission units between companies, encouraging them to limit or reduce their greenhouse gas emissions.
(Source: ECNS, 17 Nov., 2018)
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In late 2015, Chine, the world's biggest emitter of climate-warming greenhouse gases, had already met several objectives it promised to fulfil by 2020, including cutting its carbon intensity by 40 pct to 45 percent three years early, Xie Zhenhua added.
China launched the first phase of its nationwide carbon market last December after months of delays. It currently covers only the power sector but will be extended to other emitters at a later stage. (Source: New Stage, Various Media, Reuters, 27 May, 2018)
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From 2005 to 2015, China's economy grew by 1.48 times, and at the same time, the carbon intensity dropped by 38.6 pct. In 2016, the rate continued to fall by 6.6 pct year on year. Under the Paris Agreement, China will have to cut CO2 per unit of GDP by 60-65 pct by 2030 from the 2005 level.
China's carbon emissions trading system was initiated in 2011 and includes power generation, iron and steel production and cement manufacturing sectors in seven provinces and municipalities including Shanghai, Xie said.
To date, 200 million tonnes of carbon emissions quotas had been transacted via the platform by the end of 2017, with total turnover hitting 4.7 billion yuan (751 million U.S. dollars).
The National Development and Reform Commission (NDRC) launched a nationwide carbon emissions trading system in the power generation industry in December last year.
Under the scheme, enterprises are assigned emissions quotas and those producing more than their share of emissions are allowed to buy unused quotas on the market from those that cause less pollution. (Source: NDRC, Xinhua, 27 Mar., 2018)Contact: China National Development and Reform Commission, en.ndrc.gov.cn
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More than 800 Chinese factories are enrolled in a Walmart a 2014 energy efficiency programme that is reportedly saving $40 million a year in energy costs, according to Walmart. The company aims to eventually expand the programme to its entire China supply chain.
China, the world's biggest producer of greenhouse gas, aims to cut its energy intensity by 15 pct over the 2016-2020 period.
Walmart is aiming to slash 1 billion tonnes of carbon dioxide from its global value chain by the end of 2030, equivalent to taking 211 million vehicles off roads for a year.
(Source: Walmart, NASDAQ, 29 Mar., 2018)Contact: Walmart, Mark Vanderhelm, VP Energy, http://corporate.walmart.com
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Powered by the open source Hyperledger Fabric, the blockchain-based carbon management application is a joint effort by IBM and Chinese company Energy Blockchain Labs. The solution works as a carbon credit management ledger that will enable carbon asset development aka CER or carbon emission reduction quota issuing, a popular way of encouraging companies and large enterprises to reduce their carbon footprint, according to IBM.
It is estimated that the platform will significantly shorten the carbon assets development cycle and reduce the cost of carbon assets development by 20 to 30 pct, enabling the cost-effective development of a large number of carbon assets.
(Source: IBM, Energy-Blockchain Labs, April, 2017) Contact: IBM, www.ibm.com/ibm/responsibility/citizenship; Energy-Blockchain Labs
Cao Yin, Chief Strategy Officer,
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According to the US EPA's 2011 report, China was responsible for 28 pct of the total global CO2 emission coming from the fossil fuels. This was followed by the US at 16 pct, while India was responsible for 6 pct of carbon emission.
The Greenpeace report also notes that China's absence of commitments to cut greenhouse gases other than CO2 will occasion an increase on GHG emissions until at least 2030. (Source: Greenpeace East Asia, Various Media,Feb 28 2017)Contact: Greenpeace East Asia, www.greenpeace.org/eastasia
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