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ARTICLE · 09 NOVEMBER 2020

China's 2060 Carbon Neutrality Pledge - Guiding Opinions On Promoting Climate Change Financing

Mayer Brown
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On September 22, 2020, Chinese President Xi Jinping announced in his speech to the UN General Assembly that China's carbon emissions would peak before 2030 and the country would become...

ChinaEnvironment
Hallam Chow
Hallam Chow
Tim L. Y. Liu
Tim L. Y. Liu
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On September 22, 2020, Chinese President Xi Jinping announced in his speech to the UN General Assembly that China's carbon emissions would peak before 2030 and the country would become carbon neutral in 2060. The international community welcomed this pledge as China's stepped-up emissions control plan should help slow global warming significantly. Ambitious as these goals sound, many experts have expressed their concern as to how these goals could be actually achieved.

As the world's second largest economy, China produces about 28% of the world's emissions, with coal remaining its primary source of energy. To meet its carbon neutrality goal, China will have to transform its energy structure and replace a compelling portion of the fossil fuel consumption with renewables. According to a model developed by Tsinghua University in Beijing, this requires a 16-fold increase in solar power, 9-fold increase in wind power and a 6-fold increase in nuclear power over the next

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