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You are here » Home Page » News » Establishing Market-based Mechanisms for Energy Conservation in China

Establishing Market-based Mechanisms for Energy Conservation in China

2013-11-20 source
Energy efficiency and climate change are increasing on the agenda for both the World Bank Group and the Chinese government.

The Bank Group encourages promotion of market-based methods to boost energy efficiency in China, such as the Energy Service Company ( ESCO ) concept and energy efficiency financing credit lines.

A global forum was conducted to disseminate China’s experience in ESCO and energy efficiency financing to the world as well as to establish international best practices in China.

China is the biggest greenhouse gas emitter on the planet, and more than 80 % of China’s greenhouse gas emissions comes from the energy sector. Shifting China’s energy sector in the direction of a low-carbon route is the most important climate change mitigation steps in the world at the moment.

To assist the China's government to achieve its ambitious energy efficiency and emission reduction targets, the World Bank has performed an important function in launching market-based solutions to strengthen energy efficiency in China, for example the Energy Service Company ( ESCO ) concept and energy efficiency financing credit lines.

To disseminate China’s experience in energy efficiency and promote South-South exchange, the World Bank and the National Development and Reform Commission ( NDRC ) co-hosted a high-level global forum to showcase ESCO industry and energy efficiency financing during November 8-9, 2013, under the nearly 20-year alliance between the World Bank, Global Environment Facility ( GEF ) and NDRC.

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