Business / Policy Watch

China to spend $2.5 trillion on clean energy projects

By Du Juan ( Updated: 2015-07-31 11:04

China plans to invest $2.5 trillion in the next 15 years on clean energy projects.

Rae Kwon Chung, principal advisor on climate change of the United Nations Secretary-General, came up with the figures during the China Summit on Caring for Climate hosted by the UN Global Compact Network China.

According to Chung, China pumped $90 billion into the renewable energy sector last year, more than one quarter of the world's total investment.

In an action plan submitted to the UN last month, China promised to cut carbon dioxide emissions and expand the share of non-fossil fuels in its primary energy mix. Official data shows China has reduced carbon emissions per unit of GDP by 33.8 percent last year from 2005 levels.

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