NDRC allocates $355 mn to save energy, reduce carbon emissions

29 Jul '22

1 min read

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China’s National Development and Reform Commission (NDRC) recently allocated 2.4 billion yuan ($355 million) to save energy and reduce carbon emissions to boost efforts to shift to a greener economy. The funds will be used to develop innovative technology in low carbon, zero carbon, carbon removal and energy saving, and to promote a circular economy, NDRC said.

China aims to achieve carbon neutrality by 2060.

The money will support the establishment of development strategies for major regions, with the Beijing-Tianjin-Hebei region, the Yangtze River Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area being given preference. A balanced development across regions is being considered, the country’s top economic regulator said.

NDRC will also strengthen supervision and management on the implementation of the investment plan, guide and urge relevant regions to speed up project construction and see tangible progress as soon as possible, leverage the investment benefits, and promote green and low-carbon development, official Chinese media reported.

The move follows an announcement by NDRC earlier this month to allocate 7 billion yuan to support projects related to sewage treatment, utilization of sewage as a resource, and urban waste sorting and treatment.

Fibre2Fashion News Desk (DS)

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