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China and the Clean Development Mechanism
Figure 2: China’s Grid Capacity – Current (2008) and Forecast (2020 Estimate)
2008: 793GW 2020: 1,495GW
1.3%
2.0%
4.7%
0.5%
1.1%
8.4%1.5%
6.4%
5.0%
15.6%
15.1%
63.5%
74.8%
Thermal Large hydro Small hydro Wind Nuclear Biomass/WtE Solar
Source: NDRC, Bloomberg New Energy Finance. Note: 2020 estimates are based on revised NDRC targets.
investment and decreased its carbon intensity by 20% but the overall China May Pave Its Own Path Post-2012
sector performance did not surpass the ‘no lose’ target, no offsets The sectoral crediting discussion certainly took the back seat at
would be rewarded. Organizations such as the EU and the Copenhagen as emissions targets and international funding came to
International Emissions Trading Association (IETA) have begun the forefront. A few weeks prior to the conference, China took the
discussions on scheme design to address issues such as this (creating spotlight with an announcement that it would reduce the carbon
credit buffers or having decentralised crediting), but it may take a intensity of its economy by 40–45% below 2005 levels by 2020.
couple of years before consensus is reached. China stressed that the carbon intensity target would be “a binding
World Leaders in
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