SUSTAINABILITY FEED & ADDITIVE MAGAZINE March 2024 63 • Carbon Neutrality Commitment: In September 2020, Chinese President Xi Jinping announced China’s commitment to achieving carbon neutrality by 2060. This ambitious goal involves reducing carbon emissions to net-zero by mid-century. • Renewable Energy Development: China is a global leader in renewable energy deployment. It has set targets for increasing the share of renewable energy sources like wind, solar, and hydropower in its energy mix. Initiatives include the National Renewable Energy Development Plan and the 13th Five-Year Plan for Energy Development. • Emissions Trading System (ETS): China has launched a national carbon emissions trading system, which is the world’s largest such program. It caps emissions from certain industries and encourages emission reductions through trading of carbon allowances. • Green Finance Initiatives: The country is promoting green finance to support sustainable development. Initiatives include green bond issuance, guidelines for green lending, and incentives for sustainable investment. • Air Quality Improvement: The “Blue Sky” campaign aims to reduce air pollution in Chinese cities through stricter emissions standards, promotion of cleaner energy sources, and transitioning from coal to natural gas. The campaign appears to have had significant impact. • Sustainable transportation and circular economy: Initiatives to promote electric vehicles (EVs) and public transportation include subsidies for EV purchases, charging infrastructure development, and incentives for green vehicle production. China is also working on promoting a circular economy by reducing waste, improving resource efficiency, and encouraging recycling. The Circular Economy Promotion Law was passed in 2008. • Environmental Protection Laws and Regulations: China has strengthened its environmental laws and regulations to address pollution and environmental degradation. This includes revisions to the Environmental Protection Law and stricter enforcement. These sustainability regulations, plans, and actions reflect China’s efforts to address pressing environmental challenges, transition to a more sustainable and low-carbon economy, and contribute to global efforts to combat climate change. Results are varied but the sheer scale of China’s pollution make the success of these initiatives a matter of global concern. SUSTAINABILITY REGULATIONS IN INDIA Prompted by very tangible threats, India, recently crowned the world’s most populous country, has been fighting climate change for several decades, although not necessarily under one umbrella of sustainability. Moreover, there are currently no regulations that mandate sustainability reporting in India. However, Indian regulators are revising its existing environmental laws and plans, which will likely result in more stringent requirements for companies. Instead of reporting requirements, India provides support through various sustainability-related programs and legislation. • National Action Plan on Climate Change (NAPCC): Launched in 2008, the NAPCC outlines the country’s strategy to combat climate change. It consists of eight national missions focused on various
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