From HSBC, March 2011:
China has plans to continue its ‘clean revolution’ over the next five years, with significant targets for low carbon energy, energy efficiency and clean technology (Figure 1). The policy framework for this, as contained in the 12th Five Year Plan (FYP) covering 2011-2015, will be more sophisticated, with phasing in of market mechanisms and ‘bottom-up’ action in provinces and cities. The report concludes that China’s low carbon ambitions are accelerating and will bend the nation’s carbon emissions growth curve in the next five years. At the same time, the country’s energy supply is incorporating more non-fossil fuel sources and low carbon technologies will continue to develop rapidly. The Chinese market for low carbon technology is gradually opening to foreign owned enterprises, but competition is intensifying. Finally, China’s approach to(39 page PDF)
energy management is evolving to include market mechanisms, but challenges remain....
Feb. 28, 2011
HSBC Global Coal Mining Index
Also from HSBC:
Climate Investment Update, 13Jan11
2011: The year of low-carbon growth in emerging markets
(11 page PDF)
See also, from eco-business.com, Dec. 2010:
HSBC research reveals China's coal rush
Australia, December 16 - The myth of China’s switch to so-called clean energy has been blown right out of the water by research from HSBC Bank.
China already has easily the world’s biggest coal-fired power sector. It’s roughly double the size of the US’s coal-fired power generation - and about 15 times the size of ours.
Most of the huge growth planned for Chinese electricity generation over the next ten years is also going to come from coal-fired power. This leads to two broad conclusions.
Our thermal coal industry will be able to sell as much coal into world markets as it can dig up. Because in addition to the coming huge increase in demand from China, there is also India following a similar path.
Secondly, if emissions of carbon dioxide do cause global warming, go short long winter woolies.
There is nothing, nothing the developed world can do to offset the CO2 that is going to be pumped by China and India. Short that is, of stopping the world, so we can all get off. Which is exactly what the Green movement would like us do....MORE