China’s five-year development plan is an evident signal of the economic potential of climate action. By placing energy efficiency and clean energies for the first time at the heart of their economic development, the plan bets heavily on strengthening China’s competitive advantage in fields like electric vehicles, renewable energy, smart grids and other low-carbon technologies.
It is also very encouraging that China has decided to gradually implement a carbon-market mechanism as one key tool for reducing industrial emissions cost-effectively. We will engage with our Chinese counterparts in order to further explore their intentions.
Source: Solar Thermal Magazine
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