China will plough $372 billion into energy conservation projects and anti-pollution measures over the next three-and-a-half years, part of a drive to cut energy consumption by 300 million tonnes of standard coal, the country’s cabinet said Tuesday.
The central government’s drive to reduce China’s insatiable appetite for fossil fuels is aimed at improving the country’s future energy security, and is a central plank of its policy to slow down growth in greenhouse gas emissions.
China, the world’s biggest emitter of greenhouse gases, plans to cut its CO2 emissions per unit of GDP by 40-45 percent from 2005 levels by 2020.
Seven Chinese cities and provinces will launch CO2 emissions trading schemes over the next two years ahead of a national scheme later in the decade, as China seeks to move away from traditional command-and-control measures to combat spiraling carbon emissions.
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(Photo source: Clean Technica)