China will commit 2.5 trillion yuan ($493 billion) into renewable power generation by 2020. According to the country’s energy agency, the National Energy Administration, the investment will create over 13 million jobs in the renewable energy sector during the five-year period from 2016 to 2020.
The announcement marks a significant step for China’s commitment to manage carbon emissions, as the world’s largest energy market and one of the highest emitters of carbon. The move follows China’s continued focus on moving away from dirty coal power towards cleaner fuels. Last year, they became the world’s top solar generator.
In addition to addressing the environmental impacts of climate change, it is hoped that the move will also assist in tackling the social and economic costs of China’s air pollution. In December last year, 23 cities in the north of the country issued red alerts for the highest levels of pollution warnings.