Sina
Edition: CHINA ASIA USA EUROPE AFRICA
Home > Nation
Wednesday, June 24, 2015, 11:57

China allocates US$6 trillion for climate plan

By Agencies
China allocates US$6 trillion for climate plan
Chinese Vice Premier Wang Yang speaks during a panel discussion on energy and environment cooperation during the Strategic and Economic Dialogue (S&ED) June 23, 2015 at the State Department in Washington, DC. (Alex Wong /Get ty Images /AFP)

WASHINGTON - It will cost China over US$6.6 trillion (41 trillion yuan) to meet the greenhouse gas reduction goals it will lay out later this month in its strategy for United Nations climate negotiations, the country's lead negotiator for the talks said Tuesday.

Xie Zhenhua, special representative for climate change affairs at China's National Development and Reform Commission, said the objectives China will outline by the end of June will be "quite ambitious".

Xie was participating in a three-day Strategic and Economic Dialogue forum in Washington where he met with counterparts in the Obama administration, including US climate negotiator Todd Stern, Environmental Protection Agency Administrator Gina McCarthy and Energy Secretary Ernest Moniz.

To meet its objectives, China, the world's biggest greenhouse gas emitter, must reconfigure its coal-dependent energy mix and develop new energy sources, Xie said.

"We will need to carry out international cooperation and research and development to reduce the costs of relevant technologies and to innovate so that we can reach our objectives," he told reporters at a State Department briefing.

The United States and China announced on Monday they will partner on two new carbon-capture, utilization and storage projects to help commercialize the technology.

While key details of China's plan are not yet known, it is expected to include targets announced in November, when it reached a key climate change deal with Washington to cap its emissions by 2030 and fill 20 percent of its energy needs from zero-carbon sources.

Earlier this month, Chinese Premier Li Keqiang reaffirmed the government's commitment to hit a carbon emissions peak by "around 2030". The country's coal consumption decreased for the first time in years in 2014, however, leading some to speculate that its emissions could reach their peak sooner.

Latest News