CHINA-ECONOMY: CHINA'S LARGEST SOE ANNOUNCES 18 MEASURES AS PART OF ITS DECARBONISATION PLAN

The State-owned Enterprise (SoE) State Grid Corporation of China, which provides electrical grid services to 26 Chinese provinces together covering 88% of China’s total geographical area, disclosed its decarbonization plan on March 1. The announcement of its decarbonisation plan comes in the backdrop of the upcoming 14th Five-Year Plan, which will guide China’s socio-economic development through 2025; and Xi Jinping’s pledge for China to reach peak carbon emission levels before 2030. Among the 18 measures it announced, State Grid forecast that: By 2025 and 2030, non-fossil fuel energy will account for approximately 20% and 25% of China’s primary energy consumption, respectively; and by 2025 and 2030, electricity will account for more than 30% and 35% of China’s end-use energy consumption, respectively. State Grid also pledged it will transmit more electricity generated from clean power across provincial borders and that by 2025 clean energy will account for 50% of its transmitted cross-provincial and cross-regional power.







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