- China may triple electricity generation to supply 60 per cent of the country’s total energy under Beijing’s carbon-neutral-by-2026 goal, according to Shell
- The international oil company undertook a rare assessment of the country’s energy sector and said China needs to take quick action to stay on track to reach the goal
- China has set out plans to reach peak emissions by 2030, but has not yet revealed any detailed carbon roadmap for 2060
- Solar and wind is expected to beat coal as the largest sources of electricity by 2034 in China, which currently sits at 10 per cent
According to Shell, China may triple electricity generation to supply 60 per cent of the country’s total energy under Beijing’s carbon-neutral goal by 2026, up from the current 23 per cent.
Shell is one of the largest global investors in China’s energy sector, with business covering gas production, petrochemicals and retail fuel.
The international oil company undertook a rare assessment of the country’s energy sector and said China needs to take quick action to stay on track to reach the goal.
China has set out plans to reach peak emissions by 2030, but has not yet revealed any detailed carbon roadmap for 2060.
“With early and systematic action, China can deliver better environmental and social outcomes for its citizens while being a force for good in the global fight against climate change,” Mallika Ishwaran, chief economist of Shell International, told a webinar hosted by the company’s China business.
Solar and wind is expected to beat coal as the largest sources of electricity by 2034 in China, which currently sits at 10 per cent but is expected to jump to 80 per cent by 2060.
Hydrogen is expected to scale up to 17 exajoules, equivalent to 580 million tonnes of coal, by 2060. Hydrogen will meet 16 per cent of total energy use in 2060, with Shell believing the top users will be heavy industry and long-distance transport.