China vows to hold carbon-neutral G20

Tourists have a good time at the West Lake, Hangzhou, Zhejiang  province.[Photo/IC]

HANGZHOU - A carbon offset project was launched Monday in the eastern Chinese city of Hangzhou to reduce carbon produced at the upcoming 2016 G20 summit.

China Green Carbon Foundation estimated that 6,674 tons of greenhouse gases will be emitted at the summit to be held September 4 and 5 in Hangzhou, Zhejiang province.

The project, jointly organized by China Green Carbon Foundation, the Zhejiang provincial forestry department and Hangzhou municipal government, aims to plant more than 22 hectares of trees in the Hangzhou suburbs next spring. Over the next 20 years, the trees are expected to absorb all greenhouse gases discharged during the summit.

The project will be funded by two Chinese companies, Wanma Group and Lao Niu Foundation.

Carbon offsetting refers to a program in which a company or organization reduces or offsets its carbon emissions by funding activities and projects that improve the environment.

China attaches great importance to green development. From 2011 to 2015, the country planted 30 million hectares of trees and maintained another 40 million hectares of forest, up by 18 and 29 percent from the previous five years respectively.