Beijing plans $3B on alternative energy, trees

Beijing has worked out a plan to invest up to 20 billion yuan (US$3 billion) in the next decade on forestation and develop alternative energies.

Wu Jian, a senior engineer with the State Forestry Administration, said at a news conference that the trees will fight climate change by absorbing carbon and will produce material for bio-diesel and ethanol fuels by 2020.

The plan aims to have 23 percent of the country covered with forests in 10 years, up 3 percent increase from the current level.

China is one of the world's fastest-growing economies and relies on coal to meet two-thirds of its energy needs. It has been under increasing pressure to take more forceful measures to curb releases of greenhouse gases.