{"id":31848,"date":"2014-03-25T14:18:00","date_gmt":"2014-03-25T14:18:00","guid":{"rendered":""},"modified":"2020-05-14T18:44:20","modified_gmt":"2020-05-14T18:44:20","slug":"6848-five-year-plan-energy-targets-facing-shortfall-in-private-investment","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/business\/6848-five-year-plan-energy-targets-facing-shortfall-in-private-investment\/","title":{"rendered":"Five-year plan energy targets facing shortfall in private investment"},"content":{"rendered":"

Billions of yuan of state funds ploughed into energy efficiency projects have not triggered the level of private investment hoped for, according to a new report<\/a> from China’s Tsinghua University.<\/a><\/p>\n

The amount of private cash raised for each yuan of government investment in the sector fell by 45% between 2006 and 2011, from 4.2 yuan down to 2.3 yuan, says the research, raising questions about China’s ability to meet its energy goals.<\/p>\n

“The current government-private financing model can’t attract enough private interest. We need to find more market-based financing tools,” says the report.<\/p>\n

China made energy efficiency a top priority in the 1<\/a>2th Five-Year Plan<\/a>, which covers the period from 2011 to 2015. It has pledged to make green industries central to the economy in order to tackle pollution and shift to a more sustainable growth model.<\/p>\n

However, most Chinese companies working in the area are small-and medium-sized and struggle to attract private lenders<\/a> who prefer, or are directed, to put their money in local government agencies and big companies.<\/p>\n

In 2011, private corporate funding accounted for almost half of total investment in energy efficiency while government spending stood at 30%, according to Tsinghua. The Chinese government invested 416.2 billion yuan (US$64.4 billion) in the sector that year, more than any other country, it says.<\/p>\n

Nicholas Stern, chair of London’s Grantham Research Institute on Climate Change and the Environment, told chinadialogue the government should introduce stronger regulations, including tougher rules on energy-saving buildings and emission reduction.<\/p>\n

“China has tremendous opportunities in energy efficiency,” he said. “The regulations I describe for cars and buildings could force the creation of new ways of doing things.”<\/p>\n

Stern said the next 15 years would be “absolutely critical” to China’s shift to a low-carbon economy. “Delay will be dangerous and costly,” he said.<\/p>\n

China is struggling to meet the emission-reduction goal set out in the 12th Five-Year Plan. The government needs to slash the country’s energy intensity – the amount of power consumed per unit of GDP – by 3.8% in 2014 and 2015 to satisfy targets, a process the report says is “full of uncertainties”.<\/p>\n

“Meeting the emission-reduction goals will not be as challenging as in the last two years of the 11th Five-Year plan, but the new urbanisation plan and industrial development are two big reasons that the future is uncertain,” it says.<\/p>\n

Some private investors are optimistic. Liu Yangsheng, CEO of private equity firm HAO Capital, said that he was betting on the energy-efficiency sector. “Coal and oil consumption are going up. This is an alarming issue at the central level,” Liu said.<\/p>\n

“For the next five years, I will basically focus everything on energy conservation and energy reduction, it is a low hanging fruit,” he added.<\/p>\n

Victor Chu, chairman of the Hong Kong-based venture capital firm First Eastern Investment Group, which manages a US$200 million sustainable-investment fund, told chinadialogue that energy-efficiency investment was a “huge” opportunity.<\/p>\n

Chu said he is putting his money in areas including wastewater treatment and smart meters.
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The amount of private money raised for each yuan spent by government fell by almost half between 2006 and 2011<\/p>\n","protected":false},"author":1580,"featured_media":57135,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[758],"tags":[],"hashtags":[],"country":[],"class_list":["post-31848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"\nFive-year plan energy targets facing shortfall in private investment | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"The amount of private money raised for each yuan spent by government fell by almost half between 2006 and 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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