China: Steel industry’s “decarbonization target” postponed for 5 years:
Chinese government:
“Time of peak out of CO2 emissions in the steel industry”,
“It was postponed from 2025 to 2030” was revealed.
Ministry of Industrial Information Technology,
National Development and Reform Commission,
Ministry of Ecological Environment
On February 7, new guidelines were jointly announced.
Draft guideline:
In the draft guideline two years ago, about CO2 emissions in the steel industry,
“We will take the lead in achieving peak outs by 2025,” he said.
This Circular:
In this Circular, this part has been revised to “Achieve peak out by 2030.”
Achievement in 2025 is “hurry and unrealistic”
Steel CO2 emissions:
China’s steel industry emits 1.8 billion tons of CO2 annually.
Second place after thermal power generation:
This is equivalent to about 15% of the total domestic emissions, and is the second largest source of emissions after thermal power generation by industry.
Small and medium-sized steelworks in China:
There are 500 steel makers in China with refining equipment.
For small and medium-sized steelworks, reducing CO2 emissions is a burden in terms of both cost and technology.
Large steelworks in China:
Many are promoting the introduction of ultra-low emission equipment.
However, the cost of CO2 capture is very high and the pressure on profitability is great.
“Financial New” China Biz & Tech
https://toyokeizai.net/articles/-/512237?display=b
China: Coal output is record high
China’s coal production hit a record high.
National Bureau of Statistics:
According to the data released on January 17,
The production of medium-sized and larger coal companies in 2021 was 4.07 billion tons, an increase of 4.7% from the previous year.
It was 5.6% higher than in 2019.
Insufficient hydropower:
The output of hydroelectric power generation, which is second only to coal-fired power generation, was shorter than usual due to the effects of drought.
As a result, the demand for coal for power generation has further increased.
In fact, from the beginning of 2021 to September, China’s coal production remained at a lower level than the previous year.
Realization of carbon neutrality:
Reduce CO2 emissions by 2030 and postpone carbon-neutral realization to 2060.
“Financial New” China Biz & Tech