China, Technology & the Environment: emission target costs money, triggers lifestyle changes

China’s announced target to cut carbon intensity would cost the country 30 billion U.S. dollars each year during the next decade, a report carried by China Daily said.

In addition, the government’s initiatives aimed at improving energy efficiency would entail more costs, the newspaper quoted a research report by the Renmin University of China as saying.

In late November/2009, the Chinese government announced China was set to reduce the intensity of carbon dioxide emissions per unit of GDP in 2020 by 40 to 45 percent compared with the level of 2005.

“Energy-related industries will have to face incremental costs to improve their carbon efficiency, but ultimately, such incremental costs will have to be shouldered by the consumers,” Jiang Kejun, a researcher with the Energy Research Institute under the National Development and Reform Commission told China Daily.

Jiang said people should expect to pay more for energy and other products derived from fossil fuels.

Heavier fuel bills may trigger lifestyle changes in Chinese consumers as the newspaper reported the story of Harrison Wang, a 28-year-old audio engineer, who is thinking about putting his compact car in storage in expectation of more fuel expenses.

“I’m already driving a low-emission car but, if the cost of fuel continues to rise, I might have to stop driving,” he said.

via China’s emission target costs money, triggers lifestyle changes – People’s Daily Online.