China’s Progress in Implementing Carbon-Peaking Pilot Policies

Carbon-peaking pilots are instrumental in achieving China’s goal of peaking carbon dioxide (CO2) emissions before 2030, and they can serve as a model for different regions that are trying to explore effective ways to reach carbon peak and carbon neutrality (the “dual carbon†goals). This paper reviews the history of China’s low-carbon pilots, studies and analyzes the status of the first batch of pilot cities and industrial parks, launched in 2023, and identifies four challenges facing the execution: (i) limited local resources in some regions for promoting zero- or low-carbon energy; (ii) difficulties faced by some regions in accessing external resources for promoting zero- or low-carbon energy; (iii) the need for breakthroughs in pilot system and mechanism reforms; (iv) the need for better data and stronger capability. Finally, this paper puts forward several suggestions for how pilot administrators can improve performance: (i) keeping abreast with the national reform and the latest policy trends; (ii) enhancing energy conservation and improving energy efficiency; (iii) creating new business models for developing and utilizing renewable energy; (iv) optimizing integration with market instruments such as green finance; (v) building basic capabilities using digital and intelligent tools.