Your monthly update on what’s happening in key international markets.
The view from China
Net-zero ambitions
Yesterday marked World Earth Day and there were some encouraging outcomes from day one of the US hosted virtual Climate Change Summit. China has pledged to ‘phase down’ (not, unfortunately, phase out!) coal between 2025-2030 whilst the US has committed to reducing its annual emissions by 1.5bn to 2.4bn tons by 2030. And both countries released a joint-statement acknowledging the threat of climate change.
To have the world’s two largest emitters in conversation on this global issue has to be a significant step forward for the rest of the world given the geopolitical tensions that currently blight the US-China relationship.
Additional pledges by South Korea to phase out overseas coal project finance and Japan to reduce its emissions by 46% relative to 2013 levels by 2030 were also welcome announcements. And India’s commitment to build 450 gigawatts of renewable energy by the decade’s end has to be a step in the right direction for
Exclusive My CBI member-only content
