Towards carbon neutrality and China's 14th Five-Year Plan: Clean energy transition, sustainable urban development, and investment priorities

China's 14th Five-Year Plan,for the period 2021e25,presents a real opportunity for China to link its longterm climate goals with its short-to medium-term social and economic development plans.China's recent commitment to achieving carbon neutrality by 2060 has set a clear direction for its economy,but requires ratcheting up ambition on its near-term climate policy.Against this background,this paper discusses major action areas for China's 14th Five-Year Plan after COVID-19,especially focusing on three aspects:the energy transition,a new type of sustainable urban development,and investment priorities.China's role in the world is now of a magnitude that makes its actions in the immediate future critical to how the world goes forward.This decade,2021e2030,is of fundamental importance to human history.If society locks in dirty and high-carbon capital,it raises profound risks of irreversible damage to the world's climate.It is crucial for China to peak its emissions in the 14th Five-Year Plan(by 2025),making the transition earlier and cheaper,enhancing its international competitiveness in growing new markets and setting a strong example for the world.The benefits for China and the world as a whole could be immense.