China To Replace Coal With Clean Energy

CHINA-ENVIRONMENT-ENERGY-INTERNET-BULL-REPORT

China to adopt the use of renewable energy. Plans to attain carbon neutrality by 2060

China could stand to benefit economically if it can successfully replace coal with renewable energy. Coal accounted for 56.8% of the countries energy consumption in 2020 and they are also the world’s biggest emitter of carbon dioxide.Β  The country could save $1.6 trillion by doing that, said Matthew Gray, co-CEO of TransitionZero, a London-based firm.

A great deal of a challenge to achieve its goal

The country last year had pledged to bring its total greenhouse emissions to a peak by 2030 and achieve net-zero emissions by 2060. China already dominates zero-carbon technologies, the country is able to expand that infrastructure in order to reach its net-zero emissions goal. They will have to shut down those coal-fired plants which are going to be a great challenge to them.

Source: CNBC, Transitionzero, Rodiumgroup