Recently, the State Council of China issued the Action Plan for Carbon Peaking during the 15th Five-Year Plan Period, providing a systematic roadmap for the comprehensive green transformation of the economy and society in the next five years.

The Action Plan sets out overall targets. By 2030, China's carbon dioxide emissions per unit of gross domestic product will drop by 17 percent compared with 2025, and the share of non-fossil energy consumption will reach 25 percent. This will ensure the carbon peaking target is achieved on schedule and lay a solid foundation for fulfilling the nationally determined contribution targets by 2035 and advancing carbon neutrality.

Specifically, "accelerating the adjustment and optimization of the energy mix" is listed as the top priority. The Action Plan proposes vigorously promoting the development of non-fossil energy, speeding up the improvement of new energy absorption capacity of power systems, further advancing the clean substitution of coal consumption, and continuously optimizing the consumption structure of oil and gas.

The green and low-carbon transformation of industries serves as a core vehicle to foster more "green growth opportunities". The Action Plan calls for advancing the green and low-carbon development of industries, promoting the green and low-carbon shift of industrial structure, carrying out energy-saving and carbon-reduction renovations in traditional industries, accelerating the construction of zero-carbon parks and zero-carbon factories, pushing forward the green and low-carbon transformation of computing power facilities, and leveraging the role of circular economy in facilitating carbon reduction.

"Going forward, as refined policies including supporting regulations, standards and norms, and local implementation plans are rolled out at a faster pace and various tasks are carried out in a phased manner, solid and expected progress is expected to be made in carbon peaking efforts during the 15th Five-Year Plan period. This will accelerate the formation of green production and lifestyles and cultivate more growth drivers for the green economy."