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illuminem summarizes for you the essential news of the day. Read the full piece on Financial Post or enjoy below:
🗞️ Driving the news: China’s coal-powered electricity generation hit a record high in 2024, growing 1.5% from the previous year
• Despite rapid expansion in wind, solar, and hydropower, clean energy was unable to meet surging electricity demand driven by industrial and electrification needs
• This highlights a setback in China's efforts to curb greenhouse gas emissions ahead of its 2030 peak emissions target
🔭 The context: China remains the world’s largest emitter of greenhouse gases, with its electricity sector as the primary contributor
• While clean energy output surged, electricity consumption continued to outpace economic growth for the fifth consecutive year due to industrial activity and electrification of heating and transport
• Production of coal, natural gas, and crude oil also reached record levels, signaling ongoing reliance on fossil fuels
🌍 Why it matters for the planet: China’s increased reliance on coal undermines global climate targets and efforts to transition to renewable energy
• As the largest energy consumer and greenhouse gas emitter, China's energy policies significantly impact global efforts to combat climate change
⏭️ What's next: China aims for peak power sector emissions in 2025, with increased focus on deploying renewables, expanding power lines, and boosting energy storage
• Experts suggest it’s possible for renewables to meet all new electricity demand in 2025, potentially reversing the rise in fossil fuel use
💬 One quote: “It’s increasingly possible that renewable sources can meet all of the country’s new electricity consumption this year, and pave the way for China’s power sector to achieve peak emissions in 2025.” — Gao Yuhe, Greenpeace East Asia
📈 One stat: Thermal power output rose 1.5% in 2024, contributing to record fossil fuel use in China
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