China's 3-Year Plan to Cut Carbon Emissions in Steel, Cement, and 7 Other Industries Starting 2026

China has announced a three-year action plan to cut carbon emissions across nine heavy industries including steel, cement, aluminum, and coal power. The plan, led by the National Development and Reform Commission, sets specific upgrade targets through the end of 2028 and outlines funding, pricing, and policy support to drive industrial decarbonization. Sectors targeted account for a large share of China's industrial emissions. The plan aims to improve energy and carbon efficiency while expanding investment in green upgrades. It supports China's goal of peaking CO2 emissions before 2030 and reaching carbon neutrality by 2060. Key details include separate upgrade tasks for each industry, standards-based constraints, and coordination across multiple government agencies. The plan signals continued regulatory pressure on heavy emitters and potential opportunities for efficiency technology providers and carbon market participants.