[Photo via The Beijing News]

Beijing recently issued an action plan for the city's municipally-administered state-owned enterprises (SOEs) to promote carbon peaking and drive their green and low-carbon development.

The plan was published by the State-owned Assets Supervision and Administration Commission of Beijing, which regulate the city's SOEs. It details 25 measures that aim to establish a green industry system and a low-carbon energy system, and to promote technological innovation for carbon reduction.

A series of quantitative indicators has been written into the action plan. By 2025, the consumption of renewable energy by Beijing SOEs will take over 15% of their total energy consumption, and their energy consumption per 10,000-yuan GDP will reduce by 14% compared from that of 2020.

The target for green and low-carbon development is also renewed in the 15th Five-Year Plan period (2026-2030). According to the action plan, by 2030, the consumption of renewable energy by Beijing SOEs will take around 25% of their total energy consumption, and their emissions of carbon dioxide will peak and begin to decline steadily. Moreover, the size and proportion of green and low-carbon industry will also significantly increase by 2030.

The action plan also asks state-owned capital to be weighted toward green, low carbon, and other emerging industries. Other measures include promoting new energy vehicles, increasing the consumption of new energy and renewable energy in the urban heating system, gradually phasing out oil-fueled buses, promoting prefabricated building, and expanding the application of solar panels and other new energy technologies for the green transition.