China's Climate Ambition: A Turning Point for Global Climate Governance

Strategic Insights -

As Chinese President Xi Jinping addressed the United Nations environmental summit, the devastating impact of climate disasters was palpable in southern China, where over a million people had to be evacuated ahead of Super Typhoon Ragasa, the strongest storm on Earth so far this year. The economic costs of shutting down cities like Hong Kong and Shenzhen are staggering, and growing every year as intense weather events become more common. President Xi announced that China will cut greenhouse-gas emissions by 7 to 10 per cent in the next decade, a move that is both underwhelming and transformative, said Andreas Sieber, associate director of policy and campaigns at 350.org.

Key Takeaways:

  • China's new climate target of cutting greenhouse-gas emissions by 7 to 10 per cent in the next decade is a step towards assuming a leadership role in global climate governance.
  • China's leaders have previously maintained that as a developing country, they should have more leeway when it comes to mitigation efforts, particularly those that might slow economic growth.
  • However, Chinese officials are not blind to the risks posed by the climate disaster, not only to their citizens but also to the political stability the Communist Party prizes.
  • China dominates the green tech sector, and encouraging an international transformation away from fossil fuels will benefit the Chinese economy far more than any restrictions on carbon will at home.
  • Chinese companies have pledged at least $227-billion across green manufacturing projects, more in equivalent dollars than the U.S. spent on the Marshall Plan.
  • The green transformation is expected to generate jobs and investments for decades to come, cementing host countries' commitment to clean technology.

Statistics:

  • Over a million people had to be evacuated ahead of Super Typhoon Ragasa in southern China.
  • China's greenhouse-gas emissions are expected to be cut by 7 to 10 per cent in the next decade.
  • Chinese companies have pledged at least $227-billion across green manufacturing projects.
  • The green transformation is expected to generate jobs and investments for decades to come.
  • The U.S. spent $130-billion on the Marshall Plan, which rebuilt much of post-Second World War Europe.

Sources:

  • Quoted in the article, Andreas Sieber, associate director of policy and campaigns at 350.org.
  • Quoted in the article, Chinese President Xi Jinping.
  • Quoted in the article, Chinese Premier Li Qiang.
  • Reference by Carbon Brief, a research organization that analyzes the impact of climate change.
  • Report by the Net Zero Industrial Policy Lab at Johns Hopkins, which analyzed Chinese companies' green manufacturing projects.