In a press conference in Beijing during yesterday’s Earth Day (22 April), Shanghai’s Executive Deputy Mayor Chen Yi announced that Shanghai aims to reach peak carbon emissions by 2025.
This is five years ahead of China’s overall carbon emission plan, which is to reach peak carbon dioxide emissions by 2030 and carbon neutrality by 2060.
Chen Yi also said that ‘carbon finance’ should be considered an important part of building Shanghai’s international financial center, while the city adheres to its green development path.
Shanghai has been adjusting its industrial structure since the 1990s and has now formed an industrial structure dominated by the service economy. The tertiary industry has exceeded 70%.
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