[Energy-saving Equipment] Central Politburo Meeting Reiterates "Dual Carbon", Energy Saving and Carbon Reduction Entering Critical Period

English summary

Since the 13th Five-Year Plan, China has continuously promoted energy conservation and carbon reduction. Since the 14th Five-Year Plan, the focus of management has gradually shifted from dual control of energy consumption to dual control of carbon emissions. The goal of the 14th Five-Year Plan is to reduce carbon emissions per unit of GDP by 18% by 2025, with the actual completion rate at 17.7%. Key industrial sectors such as steel, cement, and electrolytic aluminum face arduous tasks. Yesterday, the Political Bureau of the CPC Central Committee meeting again proposed "actively and steadily advancing carbon peak and carbon neutrality" (not mentioned in April). Since 2026, major policies such as the "Measures for Comprehensive Evaluation and Assessment of Carbon Peak and Carbon Neutrality", the "Notice on Carrying out a Three-Year Action for Energy Conservation and Carbon Reduction Transformation in Key Industries", and the "Implementation Plan for High-Quality Development of Energy-Saving Equipment (2026-2028)" have been intensively introduced. For the first time, carbon emission work has been included in the assessment of local party committees/governments, with results reported to the Organization Department of the CPC Central Committee. The period 2026-2028 is positioned as a critical period for transformation and tackling key problems. By the end of 2028, the proportion of production capacity at benchmark level will increase by 20 percentage points, capacity below the baseline level will be eliminated, and transformation projects will receive 20% central financial support. Since 2021, China has promoted the construction of carbon allowances and the carbon market, which has gradually matured. ...