China to spend $27bn on green tech

2012-05-24 20:48

Beijing - China's central government plans to spend $27bn this year to promote energy conservation, emission reductions and renewable energy, the Ministry of Finance said in a statement on its website on Thursday.

The ministry said China plans to promote more use of energy-saving products and low or no-emission power generation such as solar and wind. It also wants to accelerate the development of renewable energy, as well as energy-saving technologies, such as electric and hybrid cars.

China is the world's biggest emitter of carbon dioxide (CO2), followed by the United States.

A report by the International Energy Agency (IEA) on Thursday said China spurred a jump in global CO2 emissions to their highest ever recorded level in 2011, offsetting falls in the United States and Europe.

However, its CO2 emissions per unit of GDP, or its carbon intensity, fell by 15% between 2005 and 2011, the IEA said, suggesting the world's second-largest economy was finding less carbon-consuming ways to fuel growth.

Longer term, China is targeting cuts to its 2020 greenhouse gas emissions by 40-45% compared with 2003 levels and aims to boost its use of renewable energy to 15% of overall energy consumption.

Negotiators from over 180 nations are meeting in Bonn, Germany, until Friday to work towards getting a new global climate pact signed by 2015. The aim is to ensure ambitious emissions cuts are made after the Kyoto Protocol expires at the end of this year.

Read more on:    iea  |  china  |  environment  |  climate change

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

linking and moving

2015-04-22 07:36 publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Inside News24


Millions of plastic particles in our food!

Scientists and researchers believe that almost five million tons of plastic is dumped in the oceans every year and it’s affecting our food.



Plastic on your plate
Prince George the green prince?
Lean, green, drifiting machine
One man's $1 million vision for an eco Africa

Book flights

Compare, Book, Fly

Traffic Alerts

It may be hard to maintain a steady rhythm as you find yourself juggling a zillion things. Slow down a little and let go of more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.