China would ‘need $5 trillion of investments’ to be carbon-neutral by 2060


Source: energylivenews.com energylivenews.com

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Shutterstock China’s carbon-neutrality goal would necessitate almost $5 trillion (£3.8tn) of investments to become a reality by 2060. That’s according to a report by Wood Mackenzie, which estimates the country will have to increase solar, wind and storage 11 times to 5,040GW by 2050 compared to 2020 levels to be able to reach net zero. The analysis suggests one of the obstacles in the way of carbon-neutrality is the lack of scalable low carbon alternatives in the industrial and transport sectors, whose carbon emissions reached 5.7 billion tonnes last year. The report also shows China’s road transport must be fully...