Shanghai’s non-fossil energy to account for 20% of total energy use by 2025 – document
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Shanghai’s non-fossil energy to account for 20% of total energy use by 2025 – document
STOCKS

Shanghai’s non-fossil energy to account for 20% of total energy use by 2025 – document

 

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China’s financial hub of Shanghai will vigorously promote the development of non-fossil energy including wind power, solar power, and biomass energy, promote offshore wind power projects and solar projects, make efforts to get state support to build large non-fossil energy bases, according to an action plan for achieving China’s carbon-peaking goal released by by the municipal government on Thursday.

By 2025, Shanghai’s energy consumption per unit of GDP will decline by 14% from 2020-level and non-fossil energy is expected to account for 20% of the total energy consumption, it said.

By 2030, Shanghai’s carbon emission per unit of GDP will decline by 70% from 2005 and non-fossil energy is expected to account for 25% of the total energy consumption to ensure the achievement of the carbon-peaking target.

By 2060, Shanghai’s non-fossil energy will account for more than 80% of the total energy consumption and the target of carbon-neutrality will be achieved, according to the plan.

China aims to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060, Chinese President Xi Jinping has said.