China charts path to carbon peak by 2029

Ren Yong, who led the research team of over 50 international experts, noted that economic growth has effectively decoupled from major pollutant emissions since 2014. By 2024, carbon intensity had fallen by more than 51 percent from 2005 levels, while the share of non-fossil fuels in the energy mix climbed to 19.8 percent. Researchers anticipate that green industries could represent one-fifth of China's total economy within the next decade.

Despite this progress, the report cautions that the transition is becoming more complex. During the 15th Five-Year Plan period, electricity demand is expected to exceed 13 trillion kilowatt-hours, forcing a difficult balancing act between energy security and the modernization of coal-reliant sectors like steel and cement. Experts identified significant hurdles in grid integration, energy storage, and the high costs associated with carbon capture and hydrogen-based metallurgy. Beyond technical barriers, the transition requires a focus on labor retraining for workers in traditional energy sectors and strengthening infrastructure against the increasing frequency of extreme weather events. The report recommends shifting from superficial green measures to fundamental structural reforms, emphasizing that technological innovation and market mechanisms must replace simple policy interventions to meet the 2060 carbon neutrality goal.