China’s carbon neutrality target provides a strong policy impetus to accelerate the zero-carbon energy transition, while the development of the circular economy is an important support to achieve the “double carbon” target. This report focuses on the contribution of recycling to the achievement of carbon neutrality and the opportunities brought by the carbon neutrality target to the recycling industry in China’s zero-carbon scenario.
The report considers the relevance of each segment to the zero-carbon energy transition and the market potential, and identifies three key areas: first, product regeneration in high energy-consuming industries (steel, cement, aluminum, and plastics); second, energy utilization of waste biomass (straw, forestry waste, household garbage, etc.); and third, electric vehicle power battery recycling for energy storage.
The report estimates that if China is to achieve zero carbon emissions by 2050, the three major areas of renewable energy use can achieve nearly 40 billion tons of carbon emission reduction, with a contribution rate of more than 30%, among the cumulative emission reductions to be achieved from 2020 to 2050. The three key areas can also form a huge market of nearly 3 trillion yuan per year by 2050. Among them.
Chen Ji, director of Rocky Mountain Institute, said that promoting the accelerated development of the recycling industry will not only help China achieve the peak of carbon emissions as early as possible and further solidify the foundation for the eventual achievement of carbon neutrality, but also promote the upgrading of the industrial form, creating new markets in the supply, consumption, auxiliary services, and other aspects, and generating huge commercial value.
As China’s zero-carbon transformation progresses, the market scale of resource recycling will gradually expand and market vitality will be stimulated, new industries, new technologies, and new business models will emerge in the process of transforming the linear development mode of “extraction-manufacturing-consumption-disposal” to the circular development mode and gradually realize scale and industrialization. The development of a circular economy and the development of new business models
Nowadays, China has laid a good foundation and accumulated certain practical experience in developing a circular economy and promoting the use of renewable resources, and the “double carbon” target will further promote the scale and industrialization of the circular economy in China.