China's Transition to Clean Energy: The Role of Carbon Market Trading and Mandates
China's Clean Energy Mandate: An Urgent Requirement
The necessity for a robust mandate to phase out coal power in China by 2045 cannot be overstated. This initiative, proposed by experts like Simon Sharpe and Tim Lenton, aims to achieve a quicker transition to clean energy.
The Current Energy Landscape in China
- China is recognized as the world's largest polluter.
- Coal accounts for approximately half of its total power consumption.
- Current clean energy sources only comprise about 26.4% of overall usage.
Implementing Change through Mandates
- Phase Out Coal Power: Transition aimed for developed economies by 2035 and developing economies by 2045.
- Ensure 100% zero-emission vehicle sales by 2035.
- Achieve 100% heat pump sales for heating appliances by 2035.
By establishing these strong initiatives, clean energy can become more cost-effective than fossil fuels, leading to a significant decrease in carbon emissions as highlighted in the latest report by the University of Exeter and Climate Group.
The implementation of policies is crucial, as the transition to clean energy technologies continues to advance both within China and globally.
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