Transformation and Development of the Coal-Based Energy Industry Under the Goals of Carbon Peaking and Carbon Neutrality

The coal-based energy industry plays a huge role in supporting the development of a national economy. As China pledges to achieve carbon peaking and carbon neutrality goals, how to keep a balance between carbon emission reduction and coal consumption has become a serious problem and daunting challenge facing the industrial chain of coal-based energy for a long time. The prospects for the coal mining industry are increasingly limited under carbon constraints. Faced with serious challenges in its positioning and technological development, the coal-fired power industry is suffering the consequences of negative environmental externalities. Therefore, the low-carbon transformation of China's coal-based energy industry is necessary and urgent. This paper conducts an in-depth analysis of the development status of China's coal-based energy industry under the carbon peaking and carbon neutrality goals and the obstacles in the transformation and upgrade of the coal-based energy industry, and comes up with response strategies. The future coal-based energy industry should make full use of emerging low-carbon clean technologies such as carbon capture, utilization, and storage to achieve low-carbon transformation, and upgrade of the entire industrial chain, following the current development trends.