China announces goals for peak carbon emissions by 2030 and carbon neutrality by 2060; can single-handedly reduce global emissions by 30%

September 23, 2020
Owning the Energy Transition More...
Truly disruptive

China has established itself as global leader in key new energies, but its emissions have grown significantly in the past two decades, making up nearly 30% of the global share. Very few details were unveiled, but China highlighted that a green strategy in a post-COVID world is important for global economic recovery. The country now joins the EU with aggressive carbon-neutral targets, as the two regions are poised to play leading roles in the global energy landscape. In the near term, we expect CO2 capture to see a significant uptick, but clients should also view the country as a key region to test and deploy solutions for hard-to-decarbonize industries as well, with China lagging in domestic development in several key technologies.

For the original news article, click here .

Further Reading

Industry Event Recap: Setting the Stage for SIEW 2020

Analyst Insight | May 04, 2020

Earlier today, Lux attended the Singapore International Energy Week (SIEW) 2020 Global Launch Event. Unfortunately, given the current global pandemic, we missed the usual pomp and circumstance that surrounds the annual opening event at Marina Bay Sands and instead joined a group of select invitees ... Not part of subscription

Japan pledges to be carbon neutral by 2050

News Commentary | November 02, 2020

The pledge was made by Japan's newly appointed prime minister, Yoshihide Suga – previously, the country only targeted CO2 emissions reduction of 80%. Details on how to reach this goal remain vague, but the country is already at the forefront of the hydrogen economy, in particular hydrogen imports, ... To read more, click here.

EU aims to even playing field for domestic industries with carbon border adjustment mechanism as part of Green Deal

News Commentary | February 12, 2021

The carbon border adjustment mechanism (CBAM) will be up for finalization in June. CBAM will serve as a "carbon levy" for industries importing goods into the EU, likely to start with steel, cement, and chemicals. While the exact details of how it will be implemented remain to be seen, the EU ... Not part of subscription