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Energy conservation: A New Investment Opportunity Part II (4)

By Lan Xinzhen (Beijing Review)

08:24, September 12, 2012

Strict supervision

According to NDRC figures, in 2011 China set the target of reducing energy consumption per 10,000 yuan of GDP by 3.5 percent from 2010, but in fact, the energy consumption was reduced by only 2.01 percent and the total emissions of ammoniacal nitrogen even rose by 5.73 percent.

In 2011, the first year for the plan, the achievements in energy conservation and emission reduction were unsatisfactory, increasing the pressure on the following four years. "If the target in 2012 cannot be accomplished, the target of energy conservation and emission reduction in the 12th Five-Year Plan period is likely to fail. Therefore China faces a severe situation and heavy tasks in saving energy and reducing emissions," Xie said.

The Central Government is fully aware of the problems in achieving energy conservation and emission reduction. The 12th Five-Year Plan on Energy Saving and Emission Reduction says some local governments, not fully aware of the urgency and arduousness of energy conservation and emission reduction, go after economic growth alone and put inadequate stress on economic restructuring and transformation of the economic growth pattern. They cannot properly balance the relationship between economic development and energy conservation and emission reduction, fail in implementing energy conservation and emission reduction policies and exercise ineffective supervision and inspection.

The policy mechanism is not perfect, particularly the price, taxation and finance policies that are conducive to saving energy and reducing emissions. The market-oriented incentive mechanism is not sound and there is inadequate impetus for innovation. Without complete energy-conservation and emission-reduction standards, calculation of energy consumption and emissions of pollutants still lags behind in the country.

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