Core Viewpoint - China has set ambitious targets for its energy transition by 2035, aiming for a significant reduction in greenhouse gas emissions and a substantial increase in renewable energy capacity, particularly wind and solar power [3][10]. Group 1: Key Targets and Goals - By 2035, China's greenhouse gas emissions are expected to decrease by 7%-10% from peak levels, with non-fossil energy consumption exceeding 30% of total energy consumption [3][10]. - The total installed capacity of wind and solar power is projected to reach over 360 million kilowatts, which is more than six times the capacity in 2020 [3][10]. - As of September 2023, China's renewable energy capacity is close to 220 million kilowatts, with wind and solar power exceeding 170 million kilowatts [5][6]. Group 2: Implementation Strategies - The 14th Five-Year Plan is crucial for initiating the transition, requiring an annual addition of approximately 20 million kilowatts of wind and solar capacity over the next decade [6][7]. - Strategies include enhancing the supply side by developing renewable energy bases and increasing offshore wind power, while also improving the quality of energy consumption through integration with traditional industries and emerging sectors [7][9]. - The implementation will involve a multi-mechanism approach, ensuring collaboration between renewable energy consumption targets and market mechanisms [8][9]. Group 3: Systemic Changes and Industry Support - The new contribution goals reflect a systemic and ambitious approach, expanding the focus from carbon dioxide to other greenhouse gases and from energy combustion to a broader economic scope [10][11]. - China's energy activities account for approximately 77% of total greenhouse gas emissions, indicating that achieving targets in the energy sector is critical for overall emission reductions [10][12]. - The country possesses a robust renewable energy industry, with significant resources and a complete industrial chain, which supports the ambitious installation targets for wind and solar power [12][13].

Core Viewpoint - China is recognized as a proactive and pragmatic actor in addressing climate change, demonstrating strong commitment to international cooperation and low-carbon technology development [1] Group 1: National Contributions and Goals - China announced its 2035 national contribution target, marking a significant shift to an absolute reduction goal for all greenhouse gases, aiming for a 7%-10% decrease from peak levels [2] - The new target includes a quantitative indicator of reducing greenhouse gas emissions by over 1 billion tons of CO2 equivalent by 2035, showcasing unprecedented ambition [2] - The "1+3+3" framework includes three quantitative indicators for 2030, such as increasing non-fossil energy consumption to over 30% and expanding wind and solar power capacity significantly [2][3] Group 2: Achievements in Climate Change Mitigation - Over the past five years, China has made significant progress in building a new energy system and promoting green low-carbon transformation across various sectors [4] - The report highlights improvements in carbon sink capabilities and the establishment of a national carbon trading market to enforce mandatory emission reductions [4] Group 3: Future Directions and International Cooperation - The national carbon trading market will expand its coverage and gradually shift from intensity control to total volume control, with a focus on both free and paid allocation methods [5] - China aims to support the upcoming COP30 in Brazil to achieve balanced outcomes, emphasizing the importance of multilateralism and the need for developed countries to fulfill their responsibilities [6] - The country seeks to create a favorable international environment for the free flow of green low-carbon products and to address the challenges posed by unilateralism and protectionism [6]

Core Points - The Ministry of Ecology and Environment announced that by 2035, the national carbon market is expected to cover over 80% of China's total carbon emissions [1][2] - China's new round of Nationally Determined Contributions (NDCs) is summarized as a "1+3+3" package, combining qualitative and quantitative targets [2] Group 1 - The new quantitative target includes a 7%-10% reduction in net greenhouse gas emissions from peak levels by 2035, translating to a reduction of over 1 billion tons of CO2 equivalent [2] - The first "3" refers to three quantitative indicators for 2030, including non-fossil energy consumption reaching over 30% of total energy consumption, wind and solar power capacity increasing to over six times the 2020 level, and forest stock reaching over 24 billion cubic meters [2] - The second "3" introduces three qualitative indicators, such as making new energy vehicles the mainstream of new vehicle sales, covering major high-emission industries in the national carbon trading market, and establishing a climate-resilient society [2]

Core Points - China announced new national contribution targets at the UN Climate Change Summit on September 24, aiming for a 7% to 10% reduction in greenhouse gas emissions by 2035, with non-fossil energy consumption exceeding 30% of total energy consumption [1][3] - The total installed capacity for wind and solar power is targeted to exceed 360 million kilowatts, which is more than six times the capacity in 2020 [1][2] - The new targets represent a significant upgrade from previous commitments, covering all greenhouse gases and emphasizing the need to decouple economic growth from carbon emissions [3] Group 1 - As of August 2023, China's total installed capacity for wind and solar power surpassed 1.69 billion kilowatts, contributing to 80% of new power installations since the start of the 14th Five-Year Plan [2] - To meet the new targets, an additional 2 billion kilowatts of capacity must be added annually over the next decade, requiring a doubling of installed capacity from the 2024 baseline of 1.41 billion kilowatts [2] - The new targets are seen as a scientific response to China's energy transition strategy, with expectations of continued economic growth and rising energy demand across various sectors [2] Group 2 - By 2024, China's energy consumption per unit of GDP is expected to decrease by 11.6%, making it one of the fastest countries in terms of energy intensity reduction globally [3] - The proportion of non-fossil energy consumption reached 19.8%, an increase of 7.8 percentage points since 2015, with projections to exceed the 20% target by 2025 [3] - The national contribution targets are aligned with the UN Climate Change Framework, signaling a clear policy direction for the next decade to achieve economic growth while reducing emissions [3] Group 3 - China's carbon market is expanding its coverage to include major emitting industries such as steel, cement, and aluminum, with plans to extend to petrochemical, chemical, and aviation sectors by 2027 [4]

中国于24日在联合国气候变化峰会上正式宣布了新一轮国家自主贡献目标：到2035年，中国全经济范围 温室气体净排放量比峰值下降7%-10%，力争做得更好。非化石能源消费占能源消费总量的比重达到 30%以上，风电和太阳能发电总装机容量达到2020年的6倍以上、力争达到36亿千瓦，森林蓄积量达到 240亿立方米以上，新能源汽车成为新销售车辆的主流，全国碳排放权交易市场覆盖主要高排放行业， 气候适应型社会基本建成。 水电水利规划设计总院院长李昇撰文称，风电和太阳能发电作为清洁能源的主力，其装机目标与实施路 径将对实现整体气候目标起到关键支撑作用。我国已提前6年实现2030年风电和太阳能发电总装机目 标，为全球能源绿色发展提供了中国方案。新目标既是对国内"双碳"进程的战略接续，更是中国在全球 气候治理中承诺与担当的体现。 今年以来，我国碳市场治理范围加速扩容，已将钢铁、水泥和铝冶炼行业纳入，下一步还将延伸至石 化、化工、航空等行业。《中共中央办公厅国务院办公厅关于推进绿色低碳转型加强全国碳市场建设的 意见》明确，到2027年，全国碳市场基本覆盖工业领域主要排放行业。 （文章来源：上海证券报） 2020年9月，中国作出碳 ...

Core Points - The new national contribution target for China aims to reduce greenhouse gas emissions by 7%-10% from peak levels by 2035, with non-fossil energy consumption exceeding 30% of total energy consumption [1] - The total installed capacity of wind and solar power is targeted to reach 360 million kilowatts, which is over six times the capacity in 2020 [1] - The forest stock volume is expected to exceed 24 billion cubic meters, and new energy vehicles are to become the mainstream of new vehicle sales [1] Summary by Sections Previous Commitments - The previous commitment aimed for carbon dioxide emissions to peak before 2030 and achieve carbon neutrality before 2060 [1] - By 2030, carbon dioxide emissions per unit of GDP were to be reduced by over 65% compared to 2005 levels, with non-fossil energy accounting for about 25% of primary energy consumption [1] - The forest stock volume was to increase by 6 billion cubic meters compared to 2005, and the total installed capacity of wind and solar power was to exceed 120 million kilowatts [1] Current Achievements - As of the end of 2024, China's installed wind power capacity is approximately 510 million kilowatts, and solar power capacity is about 840 million kilowatts, achieving the 2030 target six years ahead of schedule [2] - The new national contribution targets represent a revolutionary upgrade, covering all greenhouse gases and indicating a shift from carbon emission management to broader sustainable development [2] - The national carbon market has expanded to include major emitting industries such as steel, cement, and aluminum, with plans to extend to petrochemical, chemical, and aviation sectors by 2027 [2] International Implications - The early achievement of the 2030 targets sends a strong signal to the international community about China's commitment to climate action [2] - The announcement of the 2035 targets further reinforces the systematic approach to climate action and showcases China's ambition and determination in addressing climate change [2]