In its newest “12th Five-year Plan on Greenhouse Emission Control” China has set its new goals of reducing carbon emissions in the next five years and called for pilot programs that aim to promote a low-carbon economy. The newly released Plan aims to reduce China’s carbon intensity – the amount of carbon emitted per unit of GDP – by 17 percent by 2015, compared with 2010 levels. Energy consumption intensity by GDP will also be reduced by 16 percent during the same period.
China is also quickening its pace with regards to industrial upgrades, vowing to restrict high energy consuming industries while developing services and strategic emerging industries. By 2015, the newly added value of services and strategic emerging industries will take up 47 percent and 8 percent of China’s GDP, respectively, according to the Plan.
The shortage of experienced carbon trading designers and administrators could become another concern.
“We need people who know environmental science, as well as economics. There are very few people in China with those qualifications,” Zhang said.
The good news is that China has decided to include greenhouse emission measures into the government statistical indicators system, and ordered pilot cities to establish dedicated funds that ensure financial support for the implementation of the new program. Foreign companies and individuals with knowledge in the related field will likely find a new “blue ocean” during China’s transition to the low-carbon age.