Shanghai has unveiled a regulation to promote the city's green transformation, the first such legislative move in China. It came into effect on Jan 1.
The regulation, adopted by the 9th session of the Standing Committee of the 16th Shanghai Municipal People's Congress on Dec 28, focuses on regulating the green transformation of areas such as energy development, industrial structure, and lifestyle and consumption.
In recent years, Shanghai has achieved great economic growth with low energy consumption and emissions. Since 2010, the city has achieved an average annual economic growth of 6.7 percent with a 1.2 percent annual increase in energy consumption. The cumulative carbon emissions per unit of GDP have decreased by over 50 percent.
Meanwhile, Shanghai has implemented such regulations as the "Shanghai Energy Conservation Regulation" and the "Shanghai Household Waste Management Regulation", accumulating a series of experiences and practices in energy conservation, emissions reductions and the circular economy.
As a megacity with a population of over 24 million, Shanghai faces great challenges to accommodate its massive economy, industry and population within limited space, resources and environmental capacity.
Cui Kai, deputy director of the Legislative Affairs Commission of the Standing Committee of the Shanghai Municipal People's Congress, said that the city needs to accelerate its transition to a green, low-carbon model that emphasizes resource conservation, environmental friendliness and ecological balance.
As such, it was imperative to enact comprehensive local legislation to facilitate optimization of the city's energy structure, upgrade its industrial structure and transform people's lifestyles, Cui said.
The regulation said that Shanghai will implement a dual-control management system for energy consumption, and land and water use, gradually transitioning from energy consumption control to carbon emission control.
At the same time, Shanghai will require key organizations to carry out energy-saving and emission reduction according to the law, supporting businesses and other entities in adopting sustainable environmental, social and governance practices.
The regulation also emphasizes Shanghai's commitment to providing financial support for green transformation, industrial development and financial services related to technological innovation, while supporting financial institutions in developing green credit, bonds, insurance and financial leasing products and services.
