Three ministries issue implementation plan for carbon peak in industrial sector: steady and orderly development of modern coal chemical industry

Six Key Tasks The “Plan” outlines six key tasks, as follows: First, to conduct a thorough adjustment of the industrial structure. Establish an industrial layout that facilitates carbon emission reduction, resolutely curb the unchecked development of projects with high energy consumption and emissions but low productivity, optimize the production capacity in key industries, and promote low-carbon collaborative models within the industry.     Second, further advance energy conservation and carbon reduction. Adjust and optimize the energy consumption structure, promote the electrification of energy use in industry, accelerate the development of green industrial microgrids, speed up the implementation of energy-saving and carbon-reduction upgrades, improve the energy efficiency of key energy-consuming equipment, and strengthen energy-saving supervision and management.     Third, actively promote green manufacturing. Build green and low-carbon factories, establish green and low-carbon supply chains, create green and low-carbon industrial parks, promote the green and low-carbon development of small and medium-sized enterprises, and comprehensively improve the level of clean production. Fourthly, vigorously develop a circular economy. Promote the substitution of low-carbon raw materials, strengthen the recycling of renewable resources, advance the remanufacturing of mechanical and electrical products, and enhance the comprehensive utilization of industrial solid waste.     Fifth, accelerate the transformation of green and low-carbon industrial technologies. Promote major breakthroughs in green and low-carbon technologies, intensify the dissemination of such technologies, and carry out demonstration projects for the upgrading and transformation of key industries.     Sixth, proactively advance digital transformation in the industrial sector. Promote the deep integration of next-generation information technology with the manufacturing industry, establish a digital carbon management system, and advance the concept of \"industrial internet + green and low-carbon development\".     Two key actions The “Plan” outlines two major actions. On the one hand, it focuses on key industries by formulating implementation plans for achieving carbon peak targets in sectors such as steel, building materials, petrochemicals, and non-ferrous metals; it also develops low-carbon development roadmaps for industries like consumer goods, equipment manufacturing, and electronics. By taking sector-specific measures and making continuous efforts, it aims to reduce the intensity of carbon emissions and control their total volume. On the other hand, it is necessary to leverage the role of green and low-carbon products and equipment in achieving carbon peak and carbon neutrality goals. Design, development, and promotion mechanisms should be improved to provide high-quality products and equipment for areas such as energy production, transportation, and urban and rural construction, thereby establishing a supply system for green and low-carbon products that will help the whole society reach these targets.     Policy safeguards     Improve laws and regulations. Establish a legal framework conducive to green and low-carbon development, issue departmental regulations, and improve the supporting systems related to achieving carbon peak in the industrial sector.     Establish a standard metrology system. Accelerate the formulation and revision of energy consumption limits and mandatory **standards for energy efficiency of products and equipment. Establish and improve a standard system for achieving carbon peak in the industrial sector. Actively develop advanced group standards, improve the mechanism for adopting standards, and encourage participation in international standardization activities. Carry out key metrological testing and technical research in the industrial sector.     Improve economic policies. Implement tax incentives for energy and water conservation, as well as the comprehensive utilization of resources. Implement policies related to renewable energy. Make overall use of existing funding channels to promote carbon peak and carbon neutrality in the industrial sector. Improve the policies regarding the first application of major technical equipment and new materials. Optimize the tariff structure.     Improve market mechanisms. Improve the supporting systems for the national carbon emission trading market, and gradually expand the scope of industries covered. Scientifically determine the carbon emission quotas for industrial enterprises. Pilot programs for green electricity trading will be launched to establish streamlined processes for the subscription, trading, and use of green electricity. Establish and improve a system for the certification and labeling of green products.     Develop green finance. Establish a mechanism for finance to effectively support the green and low-carbon development of industry, and accelerate the research and formulation of standards for transition finance. Leverage the **industry-financial cooperation platform to help align financial resources with enterprises’ financing needs accurately. Establish a guide catalog and project database for the green development of industry, use green credit to accelerate the green and low-carbon transformation of the manufacturing sector, and support a number of low-carbon technological upgrading projects. Promote pilot projects for real estate investment trust funds in the infrastructure sector within green industrial parks in a prudent and cautious manner. Guide pilot areas for climate finance and investment to strengthen financial support for achieving carbon peak in the industrial sector.     Carry out international cooperation. Deepen exchanges and cooperation in areas such as green technologies, green equipment, and green trade. Implement the Guidelines for Green Development in Foreign Investment and Cooperation. Promote the joint development of a green Belt and Road, make use of existing bilateral and multilateral mechanisms to strengthen policy exchanges, carry out multi-level interactions, and identify new areas for cooperation. Encourage green and low-carbon-related enterprises to promote their services and products overseas.

There are conditions; it’s not a one-size-fits-all approach

Develop modern coal chemical industry in a steady and orderly manner to promote the efficient and clean utilization of coal based on its different quality levels.

Carbon dioxide capture, utilization and recycling – we’re on the way

Increase the proportion of low-carbon raw materials. Reasonably control the production capacity of coal-based oil and gas. Promote the application of technologies and equipment such as direct cracking of crude oil to produce ethylene, and next-generation ion-exchange membrane electrolyzers.