China Continues Heavy Investment in Energy Efficiency

CHINA is continuing the efforts to develop clean energy and energy efficiency according to Xie Zhenhua, the Vice Director of the National Development and Reform Commission.

The Asian giant’s total investment in energy efficiency and greenhouse gas emission reduction projects is expected to be around $375 billion through to 2015, with an estimate of $294 billion being spent on renewable energy generation.

The investment is all part of China’s efforts to fight climate change, report Bloomberg News.

Seven cities, selected by Xie’s Commission in late 2011, have been involved in regional carbon trading markets as part of the government’s carbon trading pilot program. Xie told a conference yesterday that the program will expand to more cities from 2015, with the aim of creating a national market.

Picture of Shanghai-Pudong by User:Michel_r (Trabajo propio, Own work) [CC-BY-SA-2.5], via Wikimedia Commons

Friday 2nd August 2013

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