Towards carbon neutrality and China’s 14th Five-Year Plan: Clean energy transition, sustainable urban development, and investment priorities

Aug 1, 2023

China’s 14th Five-Year Plan, for the period 2021–25, presents a real opportunity for China to link its long-term climate goals with its short-to medium-term social and economic development plans. China’s recent commitment to achieving carbon neutrality by 2060 has set a clear direction for its economy, but requires ratcheting up ambition on its near-term climate policy. Against this background, this paper discusses major action areas for China’s 14th Five-Year Plan after COVID-19, especially focusing on three aspects: the energy transition, a new type of sustainable urban development, and investment priorities. China’s role in the world is now of a magnitude that makes its actions in the immediate future critical to how the world goes forward. This decade, 2021–2030, is of fundamental importance to human history. If society locks in dirty and high-carbon capital, it raises profound risks of irreversible damage to the world’s climate. It is crucial for China to peak its emissions in the 14th Five-Year Plan (by 2025), making the transition earlier and cheaper, enhancing its international competitiveness in growing new markets and setting a strong example for the world. The benefits for China and the world as a whole could be immense.

Publication details
Theme(s)
Net zero & sustainable development
Type(s)
Research paper
Author(s)
Hepburn, Cameron
Year(s)
2021
Environmental Science and Ecotechnology

Latest news

Job Opening at ONZ: Youth Climate Training Assistant
Job Opening at ONZ: Youth Climate Training Assistant

The Oxford Net Zero Engagement Team (based at the Smith School of Enterprise and the Environment) is looking for a motivated individual to support the team 8 hours a week for 12 weeks (96 hours in total) in the second delivery of the Youth ... Read more

Onshore geological carbon storage has potential in the UK, but key knowledge and regulatory gaps remain – ONZ report
Onshore geological carbon storage has potential in the UK, but key knowledge and regulatory gaps remain – ONZ report

A new report by a team of Oxford Net Zero researchers reviews the current state of knowledge on onshore geological carbon storage (GCS) and its feasibility in the UK. Read more

Oxford launches revised Offsetting Principles
Oxford launches revised Offsetting Principles

As part of their net zero strategies, many companies, organisations, cities, regions and financial institutions are relying on voluntary carbon credits to offset their residual emissions. But evidence continues to cast doubt on the integrity of ... Read more

See more news and events