Policy Interpretation: China’s Plan to Innovate on Projects with TWO HIGH
China’s MEE has issued guidelines to guide the development of TWO HIGH projects - projects with HIGH energy use and HIGH carbon emissions, in order to accomplish its goals of bringing down its carbon emission to a peak by 2030 and reaching carbon neutrality by 2060. The TWO HIGH policy aims to reduce energy consumption by spurring companies to innovate on their process and improve the energy efficiency. Industries like coal, petrochemical, chemical, steel, non-ferrous metal smelting, construction materials are the main focus.