China to invest ¥2.37tr in energy-saving projects

China is set to invest around ¥2.37 trillion (£237.6billion) in major energy-saving projects in the next three and half years. A report from the nation’s State Council said the investments […]

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By Priyanka Shrestha

China is set to invest around ¥2.37 trillion (£237.6billion) in major energy-saving projects in the next three and half years.

A report from the nation’s State Council said the investments would help China save an equivalent of 300 million tonnes of coal.

China, which is said to be the world’s biggest emitter of greenhouse gases, plans to cut its carbon emissions by 40-45% from 2005 levels by 2020.

To help meet the targets, the State Council has asked local authorities to strictly carry out the policies mentioned in the report, which includes optimising industrial structures and stepping up environmental assessments for new projects.

Earlier this year a report claimed China could potentially drive a new global low carbon ‘revolution’.