China's first energy law, adopted by the 12th session of the Standing Committee of the 14th National People's Congress on November 8, 2024, will come into effect on January 1, 2025. This milestone represents a significant leap forward in modernizing China's energy governance system, aligning it with the nation's broader energy strategy and policy direction.
The legislation lays down a comprehensive institutional framework aimed at facilitating China's transition towards green and low-carbon energy. This foundation not only supports the country's commitment to sustainable energy consumption but also injects new momentum into its high-quality economic and social development.
A key aspect of the law is the promotion of an energy consumption revolution, encouraging a green and low-carbon consumption model. As the world's largest energy producer and consumer, China is dedicated to optimizing its energy consumption structure and enhancing energy efficiency. The law introduces several institutional measures, including a minimum target share system for renewable energy consumption, a renewable electricity consumption guarantee mechanism, and a renewable electricity certification system, commonly known as the \"green certificate.\"
The inclusion of the green certificate system is particularly noteworthy. It not only provides authoritative recognition of the environmental benefits of renewable electricity but also offers effective market incentives. This encourages both individuals and enterprises to prioritize the purchase and use of clean energy, acting as a powerful driver for further optimizing China's energy consumption structure.
Reference(s):
China's new law boosts energy transition and economic development
cgtn.com
