China’s energy transitions for carbon neutrality: challenges and opportunities

AbstractThe pledge of achieving carbon peak before 2030 and carbon neutrality before 2060 is a strategic decision that responds to the inherent needs of China’s sustainable and high-quality development, and is an important driving force for promoting China’s ecological civilization constructions. As the consumption of fossil fuel energy is responsible for more than 90% of China’s greenhouse gases emissions, policies focusing on energy transition are vital for China accomplishing the goal of carbon neutrality. Considering the fact that China’s energy structure is dominated by fossil fuels, especially coal, it is urgent to accelerate the low-carbon transition of the energy system in a relatively short time, and dramatically increase the proportion of clean energy in the future energy supply. Although China has made notable progress in the clean energy transition in the past, its path to carbon neutrality still faces many significant challenges. During the process of energy transformation, advanced technologies and greater investment will play essential parts in this extensive and profound systemic reform for China’s economy and society. In the meantime, these changes will create immense economic opportunities and geopolitical advantages.