The next five years are set to be exciting for China. With the recent publication of the country's 12th Five-Year Plan (2011-2015), China's shift toward a more energy efficient, lower-carbon economy looks set to accelerate, driven largely by action at the city and provincial level. This is good news not just for China and its citizens, but for the international community as well. As the world's second largest economy and a manufacturing powerhouse the pace and direction of China's low-carbon efforts matter more than ever.

A recent analysis undertaken by The Climate Group in conjunction with HSBC concluded that the 12th Five-Year Plan will accelerate China's low-carbon ambitions, "bending" the country's carbon emissions growth curve. This means that although China's total emissions will increase, this will be at a lower rate than previously projected by the International Energy Agency. This is welcome because it shows that China is taking its global climate change responsibilities seriously. But while China is undoubtedly setting a leading example, its pace of change, like other major emitters, still falls short of what is required by the climate science.

Our report shows China's growth in energy supply will incorporate an increasing share of non-fossil fuel sources. Nuclear and hydroelectric power will play an important part here, and so will wind and solar energy, with wind power capacity expected to double by 2015. While coal will continue to dominate China's energy mix, its total share is expected to fall from 72 percent to 63 percent.