China’s carbon neutrality: an extensive and profound systemic reform

Abstract

China is the largest developing economy and carbon dioxide emitter in the world, the carbon neutrality goal of which will have a profound influence on the mitigation pathway of global climate change. The transition towards a carbon-neutral society is integrated into the construction of ecological civilization in China, and brings profound implications for China’s socioeconomic development. Here, we not only summarize the major challenges in achieving carbon neutrality in China, but also identify the four potential new opportunities: namely, the acceleration of technology innovations, narrowing regional disparity by reshaping the value of resources, transforming the industrial structure, and co-benefits of pollution and carbon mitigation. Finally, we provide five policy suggestions and highlight the importance of balancing economic growth and carbon mitigation, and the joint efforts among the government, the enterprises, and the residents.