China's pledge to achieve peak carbon emission by 2030 and reach carbon neutrality by 2060 is critical to the world, experts agreed at the China Development Forum on Saturday. They acknowledged that China's commitment to sustainable development will make a great impact on the world's environment because it is the biggest country in many regards. 

"The world can't turn down the emission until China does. That has to happen really quickly," said Nicholas Stern, professor of London School of Economics and Political Science. 

He said China's pledge is an important signal for the world and Schneider Electric's CEO Jean-Pascal Tricoire called it "one of the greatest news in fighting climate change."

Stern expressed confidence that China can reach peak emission during its 14th Five-Year Plan period. He mentioned two sectors, namely infrastructure and coal, that may cast a long shadow into the future if there's not enough effort on curbing investment in such fields. 

Tricoire said digitalization integrated with big data, software and AI will be a disruptive approach to reach "new levels of efficiency" to reduce carbon emission. By applying digital solutions, industries can be "30 percent more efficient" than they are today, said Tricoire.  

Government, companies and individuals need to join hands to tackle carbon emissions, as panelists repeatedly stressed at the forum. 

Government as a driving force 

"To peak carbon dioxide emission in less in ten years, the time is urgent," said Xia Guang, researcher and former national supervise commissioner of Ministry of Ecology and Environment. 

According to Xia, the government has made efforts in adjusting the energy structure and encouraging technologies in green industry and green lifestyle of individuals. 

The government is rolling out regulations to set a limit on total carbon emission in the country by 2030 and curbing the development of industries with high energy consumption and high emissions.  

He said the government has also implemented policies to incentivize industry players to upgrade their technology, as many old technologies are not environmentally friendly. The policies include guides for green investment, providing loans and subsidies for green industries, tax cut and foundations to boost R&D in green areas, and introducing carbon trading and low-carbon models. 

As for individuals, Xia said the government is pushing the public to take on a more eco-friendly lifestyle, such as low-carbon transportation and garbage sorting and recycling. 

A push for private sectors 

Companies have also responded with a series of technological innovation and reforms aligned to the goal of reaching peak carbon emission in China. 

Working in textile and aluminum industries for over a decade, Zhang Bo, chairman of Shandong Weiqiao Pioneering Group Company, shared his insights in transforming his business to be greener. 

Most aluminum is produced by coal power. But two years ago, Zhang's company moved its aluminum business to Yunnan Province, replacing coal power with hydropower. The company started using solar power to supplement its energy needs. He said clean energy now accounts for 30 percent of total company consumption. 

The company is also working on developing a new type of aluminum alloy material that is lighter and stronger and looking into recycling aluminum. Last year, the company partnered with a German company to build a recycling industry park for used cars. 

"We used to think the investment into green development is a burden to the company," Zhang said, "but now I think company development and green development are compatible based on what we achieved." 

"The green development has empowered the company with fresh vitality and competitiveness."