In a bid to promote sustainable practices and drive innovation in emissions reduction technologies, China has announced it will provide funding of up to 100 million yuan ($13.8 million) for projects across various sectors. The National Development and Reform Commission, China’s top economic planner, made the announcement in a policy document released on Monday.
The program aims to support projects that show high levels of technological advancement and significant emission reduction benefits. Eligible projects will focus on large-scale carbon capture, improving energy efficiency, reducing carbon intensity in industries such as petrochemicals, steel, data centers, and construction. Additionally, the criteria include advancements in biomass and geothermal power technologies.
Funding will cover initiatives that promote the recycling or reuse of products like industrial waste, steel scrap, and expired renewable energy equipment such as solar panels and wind turbines. Additionally, funds will be available for projects related to the production of degradable plastics and using bamboo in packaging materials. This program is aimed at driving innovation in emissions reduction technologies and promoting sustainable practices across various industries in China.
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