The Chinese corporate sector must act now to reduce its greenhouse gas emissions to keep global warming below 2°C.
WWF-China and Ecosys claims the nation’s companies will need to cut their emissions by 2.7% each year while the electricity industry must reduce emissions by 8% a year to stay within the two-degree scenario.
China overtook the US as the world’s largest emitter of CO2 emissions and accounts for roughly a quarter of global emissions.
The role China plays in reducing carbon emissions “can hardly be overestimated,” said the report.
Samantha Smith, Global Climate and Energy Initiative of WWF International added: “We trust this report will inspire companies in China to seize the opportunities behind a low carbon transition and take ambitious actions in line with the goal of peaking GHG emissions in coming years.”