State Council: Vigorously promote new energy vehicles and reduce the proportion of production and sales of fuel vehicles

According to the news of the Chinese government network on the 26th, the State Council issued the "Carbon Peak Action Plan before 2030" (hereinafter referred to as the "Plan")," which clearly states that the pace of coal reduction will be accelerated; new coal power projects will be strictly controlled; new energy vehicles will be vigorously promoted, and the proportion of traditional fuel vehicles in new car production and sales and car ownership will be gradually reduced.

In terms of key tasks, the "Plan" points out that it is necessary to promote the substitution and transformation and upgrading of coal consumption. Accelerate the pace of coal reduction, strictly and reasonably control the growth of coal consumption during the "14th Five-Year Plan" period, and gradually reduce during the "15th Five-Year Plan" period。 Strictly control new coal power projects, the coal consumption standards of new units reach the international advanced level, and orderly eliminate backward coal power production capacity。 Promote coal reduction and coal restriction in key coal-using industries。 Vigorously promote the clean utilization of coal, reasonably demarcate areas where scattered burning is prohibited, take multiple measures at the same time, actively and orderly promote the substitution of loose coal, and gradually reduce until the prohibition of scattered coal burning。

Rationally regulate oil and gas consumption。 Keep oil consumption in a reasonable range, gradually adjust the scale of gasoline consumption, vigorously promote the replacement of traditional fuels such as advanced bio-liquid fuels and sustainable aviation fuels, and improve the energy efficiency of terminal fuel products. Orderly guide natural gas consumption, optimize the utilization structure, give priority to ensuring the use of gas for people's livelihood, vigorously promote the integration and development of natural gas and various energy sources, build natural gas peaking power stations according to local conditions, and reasonably guide the use of gas for industrial gas and chemical raw materials。

At the same time, we must resolutely curb the blind development of the "two supremes" project. Adopt strong measures to implement list management, classified disposal, and dynamic monitoring of the "two supremes" projects. Comprehensively check the projects under construction, and if the energy efficiency level is lower than the access value of the energy consumption quota in the industry, stop work and rectify in accordance with relevant regulations, promote the energy efficiency level, and strive to fully reach the domestic and even international advanced level。 Strengthen normalized supervision and resolutely take down the "two highs" projects that do not meet the requirements.

In terms of transportation, the "Plan" mentions that vigorously promote new energy vehicles, gradually reduce the proportion of traditional fuel vehicles in the production and sales of new vehicles and car ownership, promote the electrification of urban public service vehicles, and promote electricity, hydrogen fuel, and liquefied natural gas-powered heavy freight vehicles. By 2030, the proportion of new new energy and clean energy-powered vehicles in that year will reach about 40%, the carbon emission intensity of the conversion turnover of operating vehicle units will be about 9.5% lower than that of 2020, and the comprehensive energy consumption of the national railway unit conversion turnover will be reduced by 10% compared with 2020.

The "Plan" requires that state-owned enterprises in key areas, especially central enterprises, should formulate and implement the action plan for enterprise carbon peaking and play an exemplary and leading role. Key energy-using units should sort out and account their own carbon emissions, study carbon emission reduction paths in depth, and formulate special work plans for "one enterprise, one policy" to promote energy conservation and carbon reduction。 Relevant listed companies and bond-issuing enterprises shall regularly publish enterprise carbon emission information in accordance with the requirements for environmental information disclosure in accordance with law.

In terms of policy guarantees, the "Plan" mentions the improvement of economic policies. Establish and improve the tax policy system conducive to green and low-carbon development, implement and improve preferential tax policies such as energy conservation and water conservation, comprehensive utilization of resources, and better play the role of taxation in promoting the green and low-carbon development of market players. Improve the green electricity price policy, improve the residential ladder electricity price system and the time-of-use electricity price policy, and explore the establishment of a dynamic adjustment mechanism for time-of-use electricity prices。 Expand the depth and breadth of the green bond market, and support eligible green enterprises to go public, raise and refinance.

(Zhongxin Jingwei APP)

Editor/Fan Hongwei