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However, the final quarter of last year brought a rise in emissions, in particular from the chemicals sector, an area where emissions continue to increase. Petrochemical and plastics production emissions rose 10 per cent in the September quarter.<\/p>\n
<\/p>\n The absence of the US administration at the two-week-long COP30 summit at the Amazonian port city of Bel\u00e9m in Brazil, which kicked off on Monday, has put the spotlight on China as well as the world’s other big emitters, such as India, which has not yet submitted its updated climate plan. <\/p>\n Almost 50,000 people had registered to attend the conference, according to the UN.<\/p>\n China, alongside the UK and Brazil, hosted talks on tackling methane and other non-CO\u2082 gases on the weekend. It was attended by Huang Runqiu, China\u2019s minister of ecology and environment, who said that addressing climate change<\/a> \u201crequires concerted efforts from the entire world.\u201d<\/p>\n On the opening day of the summit, COP30 president Andr\u00e9 Corr\u00eaa do Lago noted that China<\/a> was playing a \u201cvery significant\u201d role, highlighting how its green technology, from solar to batteries, had driven down costs and transformed the global energy system.<\/p>\n \u201cBy lowering the price of all these essential elements in the transition, they are doing an amazing job of international co-operation,\u201d he said.<\/p>\n A separate report from a UN-supported initiative known as the Taskforce on Net Zero Policy said that, despite fears of a global climate policy rollback since the retreat, progress had continued. But the \u201ccentre of gravity\u201d had shifted towards Asia Pacific and away from the US and EU.<\/p>\n The head of the UN climate change arm, Simon Stiell, said new national action plans that had been submitted so far would cut greenhouse gas emissions by 12 per cent by 2035 from 2019 levels.<\/p>\n The world must cut greenhouse gas emissions by almost half by 2030, compared with 2019 levels, to limit global warming to 1.5C since pre-industrial times.<\/p>\n \u201cWe have some tough opponents, no doubt, but we also have some heavyweights on our side,\u201d said Stiell. <\/p>\n Recommended<\/p>\n China has in recent days joined a coalition that aims to unify global carbon markets, led by host country Brazil and endorsed by the EU and countries including the UK and Canada.\u00a0There are 37 carbon emission trading systems and 43 carbon taxes around the world, according to the World Bank.\u00a0<\/p>\n But, in a sign of the difficulties of agreeing on how to price carbon globally, another coalition which includes China as a founding member criticised the EU introduction of its world-first carbon border tax, saying it would \u201cundermine the basis of multilateral co-operation\u201d.<\/p>\n China has also not yet agreed to pay a specific sum into Brazil\u2019s flagship forest fund, though it is engaged in discussions, according to people close to the COP presidency. <\/p>\n \u201cI don\u2019t think they want to lead from the front,\u201d one climate envoy in Bel\u00e9m said. \u201cBut they will defend the multilateral process and attacks on their performance.\u201d<\/p>\n Climate Capital Where climate change meets business, markets and politics.\u00a0Explore the FT\u2019s coverage here<\/a>.<\/p>\n<\/a><\/p>\n
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