China will plough $372 billion into energy conservation projects
and anti-pollution measures over the next three-and-a-half
years, part of a drive to cut energy consumption by 300 million
tonnes of standard coal, the country’s cabinet said Tuesday. The
central government’s drive to reduce China’s insatiable appetite
for fossil fuels is aimed at improving the country’s future
energy security, and is a central plank of its policy to slow
down growth in greenhouse gas emissions. China, the world’s
biggest emitter of greenhouse gases, plans to cut its CO2
emissions per unit of GDP by 40-45 percent from 2005 levels by
2020. Seven Chinese cities and provinces will launch CO2
emissions trading schemes over the next two years ahead of a
national scheme later in the decade, as China seeks to move away
from traditional command-and-control measures to combat
spiraling carbon emissions. Check out the rest of the article
here. (Photo source: Clean Technica)