January 28, 2025, China - China's new Energy Law, effective January 1, 2025, mandates a minimum share of renewable energy in power consumption, consolidating fragmented energy policies into a unified strategy. This law aims to cap carbon emissions while expanding utility-scale renewable energy installations.
Key points include:
China surpassed its 1,200 GW wind and solar capacity target by mid-2024, achieving 44% of its power generation from renewables.
Coal remains significant, with over 1,100 coal plants and nearly 400 GW of coal capacity in the pipeline.
China's carbon emissions peaked at nearly 15 billion tonnes in 2024, comparable to emissions from 3.24 billion petrol-powered cars.
Despite the focus on renewables, coal-fired electricity is expected to rise by 4.5% in 2025.
China's clean energy sector contributed approximately $1.6 trillion to the economy in 2023, accounting for 40% of economic growth.
New sustainability guidelines for listed companies require comprehensive emissions disclosures, impacting two-thirds of national emissions.
The Energy Law is part of China's broader strategy to achieve carbon neutrality by 2060 while balancing energy security and decarbonization efforts.