Last year was both the first full year since China committed to carbon neutrality, and the first of the 14th Five Year Plan (FYP) period. It saw the dual carbon targets \u2013 of peaking before 2030 and neutrality before 2060 \u2013 included for the first time in the annual Government Work Report to the Two Sessions, as well as a procession of policy changes and market responses.<\/p>\n\n\n\n
So, how did China perform? Recently released data<\/a> from the National Bureau of Statistics (NBS) can indicate progress on the low-carbon transition.<\/p>\n\n\n\n Carbon intensity fell 3.8% in 2021, against GDP growth of 8.1%. Total carbon emissions grew 4% \u2013 a fall on the 9% growth<\/a> seen in the first half of the year. Once again there were big increases in renewables generation capacity, while products representative of the transition, such as electric vehicles, outshone construction materials like steel and concrete.<\/p>\n\n\n\n Coal remains the trickiest problem for the transition: in the year since committing to peak carbon before 2030, coal consumption reached a new high in China, nearing but not surpassing the peak figure from 2013.<\/p>\n\n\n\n The dual carbon targets spurred activity in the renewables sector during 2021. A range of electricity market reforms were announced, and there was a call at a Party conference to build \u201ca new type of power system with renewables at the centre\u201d, further unleashing potential. Renewables led in terms of added capacity during the year, and overall generation is gradually rising.<\/p>\n\n\n\n The latest NBS data show 46.95 gigawatts (GW) of new wind power and 53.13 GW of new solar over the year \u2013 26.6% and 30.1% of total added capacity for the year, respectively. China now has over 300 GW of both solar and wind power generating capacity. Figures made public earlier by the National Energy Administration<\/a> show renewables including hydropower accounting for 16.1% of total power generation in 2021. Meanwhile, wind provided 7.9% and solar 3.9%.<\/p>\n\n\n\nStrong growth in new energy<\/h2>\n\n\n\n