02 Energy sector
China, being the source of nearly a third of the world’s total carbon dioxide (CO2) emissions, has ratified the Paris Agreement on climate change in 2016 and announced plans to close mines and to reduce coal’s share in the energy mix.
The Chinese government drives a number of initiatives in the green energy sector. In 2012, China enhanced its Green Credit Guidelines for financial institutions, which seek to direct loans to green economy sectors.
India has set itself an ambitious target to generate 12% of its energy needs from renewable sources by 2017.
Multiple smaller Asian nations outlined ambitious visions for renewable energy deployment by introducing targets on 100% renewable energy.