GREEN GOALS
Ahead of the COP30 summit in Brazil that kicked off last week, Chinese President Xi Jinping announced that China would cut greenhouse gas emissions by 7 to 10 per cent by 2035 – marking the country’s first absolute emissions reduction target.
He also pledged to expand China’s installed wind and solar capacity while increasing the share of cleaner fuels in its energy mix.
Loh said this must go in tandem with real action in raising the share of non-fossil fuels in China’s energy mix.
“Going forward, they probably need to coordinate with other countries to invigorate the voluntary carbon markets,” he added, in reference to markets where individuals and companies can voluntarily purchase carbon credits to offset their greenhouse gas emissions.
He noted: “And of course, China will need to participate in the Paris Agreement carbon markets … What I feel is that sometimes, China tends to under-promise and over-deliver.”
Still, experts said there could be spillover benefits for other nations.
“In the United Nations Sustainable Development Goals dashboard, China has a high spillover score of 90.14 out of 100,” said Loh.
“This reflects that its actions in trade, finance and security lead to positive environmental and social impacts, which in turn strengthen other countries’ abilities to achieve the sustainable development goals.”
Green development remains a key focus in China’s latest five-year social and economic road map, with officials pledging to strengthen international collaboration in green technology.