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The report released on Monday, namely the Critical Decade: Global Action Building on Climate Change, showed the world’s two largest economies, China and the United States, are on the path to meet their international commitments on climate change.
According to this report, China reduced the carbon intensity of its economy in 2012 more than expected and almost halved its growth in electricity demand.
After years of strong growth in coal use, the rate of growth has declined substantially.
China has emerged as the world’s renewable energy powerhouse, taking ambitious strides to add renewable energy to its mix, the report said.
According to the report, between 2005 and 2012, China increased its wind power generation capacity by almost 50 times.
The amount of electricity generated from wind in last year was about 36 per cent higher than in 2011.
Solar power capacity expanded by 75 per cent this year and is expected to triple to more than 21,000 megawatts by 2015.
The Commission also pointed out that China invested $65.1 billion in clean energy in 2012, 20 per cent more than in 2011.
“This was unmatched by any nation and represented 30 per cent of the entire G-20 nations’ investment in 2012,” said the report.
According to new research released by The Pew Charitable Trusts earlier this month, among the Group of 20 nations, China reclaimed the top spot in clean energy investment, attracting $65.1 billion, a 20 per cent increase over 2011 and 30 per cent of the total for the G20 group.
With inputs from Agencies