AFRY thinkpiece: Implications of China's proposed 2060 carbon neutrality
What are the implications of China’s plans to be carbon neutral by 2060?
Last week China’s President Xi Jinping announced an ambition to reach carbon neutrality by 2060. Achieving this, following a target peak in emissions in 2030, will require reducing, sequestering or offsetting approximately 300Mt of CO2 on an annual basis – roughly equivalent to decarbonising France every year between 2030 and 2060.
This monumental task has global implications – notably for the sectors of China’s economy responsible for its emissions, but also for energy markets worldwide and the global energy transition. In this thinkpiece we focus on both the domestic implications for electricity, industry and transport – representing 90% of domestic emissions – and outline early possible global implications.