From September 12th to 16th, during the 2024 China International Fair for Trade in Services (CIFTIS), the exhibition on environmental services was held at the Blast Furnace No.4 of Shougang Park. Built in 1969, the furnace once witnessed the flow of molten metal. After meticulous design and renovation, it has been transformed into a brand-new exhibition center, serving as an emblem of China's transition from extensive to sustainable development.
At the forum titled "Shougang Blast Furnace Forum-ESG Development", which took place within this renovated venue, Academician Liu He, a distinguished figure in China's energy sector, emphasized the profound significance of the ongoing global shift from traditional fossil fuels to renewable energy for China.
China is advancing its energy transformation with the ultimate aim of achieving its carbon peak and neutrality goals (the "Dual Carbon" goals). This relentless pursuit is highlighted in the recently published White Paper titled "China's Energy Transition," which underscores the nation's commitment to sustainable development.
"The shift from traditional fossil fuels to renewable energy is of paramount importance to China," Liu said in an exclusive interview with China Economic Net. He highlighted that China's reliance on imported oil and gas presents a challenge to national energy security, making the move toward renewables imperative. "It helps to reduce our dependence on external energy markets and enhances our national energy sovereignty."
The Chinese government has been proactive in supporting this transition. According to Liu, China has a strong manufacturing base and technological capabilities in photovoltaic and wind power. By 2023, the cumulative installed capacity of photovoltaic and wind power will be 1.05 billion kilowatts, with an annual capacity of 293 million kilowatts. It is also an important global producer and exporter of renewable energy equipment. The country's exports of wind and photovoltaic (PV) products helped other countries reduce carbon dioxide emissions by about 810 million tons in 2023.
China has been committed to strengthening international cooperation and sharing its experience in energy technology with other countries. For example, China has carried out clean energy projects with countries participating the Belt and Road Initiative. It has also established bilateral energy cooperation mechanisms with nearly 30 countries, covering areas such as technical exchanges and project cooperation.
Liu noted that while the country has made significant strides, challenges remain due to the uneven distribution of resources and the inherent economic constraints of renewable energy technologies. "Economic viability and reasonableness are essential considerations," he emphasized during the interview, adding that the same issues faced by China are prevalent worldwide.
"We must continuously deepen our efforts and strive towards the goals set forth in the 14th Five-Year Plan," he said, referring to the national plan's emphasis on reaching carbon peak targets. The plan outlines clear objectives for reducing carbon emissions, promoting renewable energy sources, and improving energy efficiency.
To achieve the ambitious target of carbon neutrality by 2060, China is committed to driving technological innovation further, increasing the green content and novelty quotient of its energy sector. The nation aims to build a modern energy system characterized by cleanliness, low-carbon, safety, and efficiency by mid-century, aligning with its vision of becoming a fully modernized socialist country.
As China continues to innovate and integrate advanced technologies into its energy infrastructure, it sets an example for other nations pursuing similar pathways towards sustainability. The ongoing efforts not only contribute to the global fight against climate change but also underscore the importance of international collaboration in advancing green energy solutions worldwide.
