In August of 2024, the State Council publicized a policy document named the Opinions on Accelerating the Full Green Transition of Economic and Social Development (hereinafter referred to as “the Opinions”). The original issuing date was July 31, 2024, but the State Council only made it to the public on August 11, 2024.
The Opinions are considered as the top-design document on accelerating China’s full green transition therefore is of great importance. An interview was carried out by China’s national news agency Xinhua News Agency with a high-rank official from the National Development and Reform Commission (NDRC) to further explain this document, demonstrating a national focus.
It contains a total of 12 articles with planning on the next steps and developing goals. An overall objective is set to “accelerate the comprehensive green transition of economic and social development, and form a spatial pattern, industrial structure, mode of production and way of life that conserve resources and protect the environment”.
The Opinions firstly lay out the working principles of the full green transition as:
· Requirements of green transition should be integrated into all aspects and fields of the economic and social development.
· Fully consider the uneven developing status of different regions and sectors, in order to make scientific planning.
· Insist on innovations in technology, policy and business model to better support the green transition.
· Resolve and guard against potential issues during the transition, and well balance the relation between development and emission reduction, overall and local, present and long-term, and the regulatory management and market.
Main goals have been stated in the Opinions as:
· By 2030, remarkable results will be achieved in terms of green transition, where positive transition progress will be made in the key areas, green production methods and lifestyles will be basically formed, the coordination capacity for reducing pollution and carbon will be significantly enhanced, the efficiency of major resources will be further improved, and the system of policies and standards supporting green development will be improved.
· By 2035, a green, low-carbon and circular economic system should be basically in place, while green modes of production and life are widely adopted, significant progress are made in synergies to reduce pollution and carbon, the efficiency of major resources would reach an internationally advanced level, the country’s economic and social development should be on a green and low-carbon track, and carbon emissions should steadily decline after carbon peaking.
More specific goals are laid down in 10 perspectives, and the key takeaways include:
· Coordinate economic development and the transition, some regions are mentioned in the Opinions as examples to ensure ecological green transition while maintaining economic growth, such as: the Beijing-Tianjin-Hebei Region, the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta, the Hainan Free Trade Port, and the ecological protection of the Yellow River basin
· Digital, green and low carbon sectors are highly encouraged. Traditional sectors will continue the upgrade for cleaner and lower energy consumption with technical innovation.
· Accelerate green transition in energy sectors by improving cleaner and low carbon use of fossil fuel energy, and the better and wider usage of non-fossil fuels.
· Transportation, urban and rural constructions should all develop toward a low carbon and green model by improving energy efficiency and more innovative and intelligent systems and infrastructures.
· Reinforce higher energy efficiency level by implement energy saving upgrades in equipment and products in key sectors; intensify circular economy.
· Promotion and set up better publicity on low carbon and green lifestyle to call more higher public awareness, and supply consumer goods with better energy efficiency.
· Set up national labs and innovative platforms to facilitate the development of innovative and emerging technologies; encourage giant enterprises to take lead while supporting SMEs on relevant R&D activities.
· Optimize green policy supply on tax, financing, investment, pricing, standardization and market activities.
· Reinforce international cooperation on climate change, pollution control, biological diversity etc. Support developing countries and actively participate in international standardization activities regarding green development and transition.
In terms of regulatory and standardization, foreign stakeholders and MNCs are advised to notice following contents of the Opinions mentioned following points:
· Binding standards on land, the environment, energy efficiency, water efficiency and carbon emissions will be upgraded to have the national standards leading the optimization and upgrade of traditional sectors.
· Further establish a standard system for carbon peaking and carbon neutrality: promote the formulation and revision of standards for carbon reduction and carbon removal; formulate standards for accounting, reporting and verification of corporate carbon emissions and product carbon footprints.
· Accelerate the updating and upgrading of energy conservation standards, raise the requirements on energy consumption limit for key products; expand the coverage of energy consumption limit standards; improve the renewable energy standard system and the industrial green and low-carbon standard system.
· Establish and improve the hydrogen energy "production, storage and use" standard.
· Strengthen international cooperation on green standards and conformity assessment, participate in the formulation and revision of relevant international standards, and promote convergence and mutual recognition of carbon footprint and other rules with major trading partners.
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