China Goes All In On Green Economy
China has announced it will accelerate its move to cut greenhouse gasses. It is already ahead of most of the world in solar and wind adoption However, because of the use of fossil fuels in a country with 1.4 billion people, it remains the world’s top polluting nation.
The government of China announced, “According to the recently issued guidelines, the main objectives are that by 2030, the country will achieve “remarkable results” in the green transition in all areas of economic and social development; and by 2035, a green, low-carbon, and circular development economic system will be basically established and the goal of Beautiful China will be basically achieved.”
Lowering Transportation Emissions.
The statement itself means very little. Most of the improvement will come from transportation emissions and energy consumption. The central government will fund much of the changeover. China EV sales are surging which may help.
China Vs. US And India
Based on greenhouse gas emissions figures from 2022, China made up 30% of the global number. Its contribution was more than India and the US combined. The same analysis shows that Chinese emissions per year would flatten. The US’s would drop slightly. India would continue to grow. China is well ahead of the US in the race for nuclear energy.
China’s announcement may be like other related announcements from major governments. It looks good on paper, but that is all.
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