China's Carbon Emissions Yet to Peak

China, a developing nation with a massive population, has not yet reached its peak carbon dioxide emissions. This statement comes from the country’s National Energy Administration (NEA), refuting speculations that China had already achieved peak emissions ahead of its set deadline.

China's Pursuit of Modernization

Song Wen, the head of law and institutional reform at the NEA, emphasized China's status as a developing country in pursuit of modernization for its vast population. He was quoted by Bloomberg saying, "Great efforts are still needed to achieve the goals of peak carbon and carbon neutrality."

China's Role in Energy Transition

Despite being one of the largest carbon dioxide emitters, China has been leading the energy transition. The country accounts for a significant portion of global spending on wind, solar, and EVs, and has become the largest producer of these three.

Efforts to Reduce Carbon Emissions

China is making efforts to change its status as a major carbon emitter. Reports earlier this month indicated that the country plans to construct 11 new nuclear reactors to increase the proportion of zero-emission electricity in its energy mix. China is currently the world leader in building nuclear power plants, and based on its record approvals, it aims to become the world's largest nuclear generator by 2030, as per BloombergNEF. The country has 26 nuclear reactors under construction, which will add over 30 GW in generation capacity to the country's total when completed.

Reduction in Approvals for New Coal Capacity

Chinese authorities have significantly reduced the number of approvals for new coal capacity. The total approved during the first half of the year was about 80% lower than the new coal capacity approved during the same period in 2023. However, it remains unclear whether the reduction in approvals is due to the country's push last year to meet its coal capacity needs or an effort to decrease the dominance of coal in the energy mix.

Bottom Line

China's journey towards peak carbon emissions and carbon neutrality is a complex one, considering its status as a developing nation with a large population. The country's efforts in leading the energy transition and reducing the dominance of coal in its energy mix are commendable. However, the question remains - will these efforts be enough to achieve its carbon neutrality goals? What are your thoughts on this? Feel free to share this article with your friends. Don't forget to sign up for the Daily Briefing, which is available every day at 6pm.