Energy by the National Development and Reform Commission recently issued a "2050 report on China's energy and carbon emissions," is expected by 2020, energy-saving and new energy industry and other green industries so that at least 2 trillion funding gap needs to be filled; adding that the next 15 years, China will establish a new energy and renewable energy development and absorption of private capital investment funds, etc., and to encourage outstanding renewable energy company listing. The report also on China's implementation of a carbon tax, China's carbon emissions reduction programs and other issues of system analysis and recommendations.
Carbon tax:
Can be started from a lower tax rate
　　At present, China has entered a carbon tax of more detailed study stage. Report argues that reducing imports if we consider China's role in promoting the economy and the reduction of domestic investment in the energy sector to increase investment in some new industries brought about by the effect of a carbon tax on GDP losses will be very limited, and may even a positive impact, and to contain the energy prices, a positive effect.
　　In addition, the current international climate change being discussed in the implementation of border adjustment tax, a carbon tax on imported goods, "Even if China do not accept a carbon tax, export products in foreign countries may also be paying a carbon tax; if China carbon tax, it may be to avoid the carbon tax be imposed in foreign countries. "the report said.
　　"In the long term, using carbon taxes or energy taxes combined with the carbon tax is a viable option." Report from China's transition to a carbon tax on energy taxes, carbon taxes can be started from a lower tax rate, followed by the gradual increase; and proposed energy tax levy of four to five years after the carbon tax, initially, and energy taxes can be co-existence of mixed taxes. At the same time prior to the implementation of carbon tax of three to four years, announced the implementation of a carbon tax schedule and tax rates for businesses and consumers to consider investing.
Finance:
Encourage renewable energy company listing
　　The report focused to speed up China's financial system, promotion of renewable energy and energy efficiency investment and financing system development. Report said, renewable energy and energy efficiency industries will focus on the future development of the world and will be a hot area of investment.
　　"In the next 15 years, the state of renewable energy development and utilization of the main task is to select the ecological environment on the national economy have significant value to the key technology research and development, pilot demonstration of these technologies to enhance scientific and technological achievements, contributed to the formation of industry." The report said the measures include the expansion of market share, the full introduction of market competition mechanism and to ensure that the quota policy, the Internet, as well as further development of the market and to achieve diversification of investment and financing, namely the establishment of new energy and renewable energy development and absorption of private capital investment funds and so on, and to encourage excellence in renewable energy companies listed.
New energy and renewable energy in China will also become a hot spot for investment. According to the U.S. Energy Foundation and the National Development and Reform Commission predicted that from 2005 to 2020, China needs energy of 1.8 trillion yuan, of which energy conservation, new energy and environmental needs of about 7 trillion yuan, an average annual energy-saving environmental protection market size 3000 billion to 400 billion yuan.
　　At present, China's annual investment in this market, less than 100 billion yuan. The report predicts that, according to the current investment growth rate, an annual funding gap of about 2000 billion, by 2020, energy-saving and new energy industry and other green industries so that at least 2 trillion funding gap to be filled.
The report recommends, therefore, to accelerate capital market development, and actively expand the sources of funds, focusing on the diversification of financing innovation. Which suggests that encourage social and private capital and state-owned capital, joint venture and cooperation on new energy projects in the construction and operation, energy conservation projects should be completely open the whole society.
Policy:
Has paid attention to economizer
　　In order to ensure that economic development can only effectively deal with climate change, report on the economic growth and the protection of rigid under the premise of the efficiency of carbon emissions, given the system of programs and policy recommendations. Report says: "The system of emission reduction programs and policy measures should be in promoting market-oriented, based on the relevant market failures to remedy the situation."
According to China's current energy and economic systems is estimated that China's carbon dioxide emissions by 2050 will reach 62.3 billion tons, with an average annual growth rate of 5.6%, which is an unsustainable emissions; if China continue to improve the market-oriented, the former 14 years will be greatly to reduce carbon emissions intensity from 2005 to 2050 average annual growth rate of 4%.
　　The report recommends policy priorities grasp economizer, that give priority to the completion of the coal industry's market-oriented and collection of resources, tax and environmental taxes. This will result in 23.1% rise in coal prices, but also to reduce its consumption of 6.9%, oil and natural gas consumption grew 0.83%.
International Climate Group Project Manager Deng Liang-chun responded by saying that this way, the upside down coal prices and electricity plants will suffer greater pressure on spreads, and eventually will be reflected in electricity prices rose above.
　　Second, "despite rising coal prices can increase the other, more clean energy, such as the use of natural gas ratio, but the elasticity of substitution is not strong, because our country is not rich in natural gas reserves, ultimately the residents and businesses pay for energy costs will increase. "Deng Liang-chun said.
The report strongly supports the development of new energy policy: "From the perspective of the social discount rate, government support can not be depleted without (low)-carbon energy development is worth the effort. This strategic move will bring about changes in the pattern of world power by the This could lead to new energy sources on a large-scale alternative to fossil fuels. "The report predicts that in such a scenario, China began to occur from the 2028 zero growth in carbon emissions to 2036 will be a sustained negative growth.
Investment:
Each year by an additional investment of 1 trillion
　　According to the report estimates that if China is to develop a truly low-carbon economy, invest each year an additional 1 trillion yuan. From all energy types, each sector final energy demand reduction in the contribution of the total volume of view, the contribution of coal ranks first in all kinds of energy sources, followed by oil, heat and electricity; industrial sector the largest contribution to reducing energy demand, followed by transportation, civil, services and agriculture.
　　However, this year 1 trillion yuan in additional investment of great uncertainty. In addition to our government funding investments, "we have reached in the negotiations and developed countries, capital and technology transfer mechanisms, to get their investments. In the first place is a big power game between the negotiations and the issues." Deng Liang-chun said.
There are a number of domestic and international financial institutions into new energy markets, Deng Liang-chun believes that these funds first fame and fortune, while reducing emissions and combat climate change, many other benefits difficult to quantify in the market, they have a social and public welfare difficult to monetize, so the fame and fortune are not able to cover these additional capital investment. (You Lin)