The 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is underway in Dubai, UAE, from November 30 to December 12, 2023. As global leaders convene to address climate change, significant strides are being highlighted in sustainable development initiatives.
A recent study by Wood Mackenzie Ltd titled \\"China's Belt and Road Initiative Turn away from Coal\\" reveals a transformative shift in China’s global infrastructure strategy. The report indicates that nearly 60 percent of overseas development projects under the Belt and Road Initiative (BRI) currently planned or under construction focus on renewable energy, a considerable increase from 37 percent over the past decade.
Over the last ten years, Chinese companies have successfully implemented 128 GW of overseas power projects, surpassing the entire generation capacity of the United Kingdom. Approximately 70 percent of these projects are concentrated in South and Southeast Asia, demonstrating the substantial impact of BRI’s capital, technical expertise, and supply chains in boosting power capacity across developing regions.
This significant shift from coal is attributed to China's 2021 commitment to a \\"No new overseas coal power\\" policy. Today, three-quarters of new BRI projects under construction are renewables, compared to less than 20 percent a decade ago. Additionally, almost 90 percent of proposed coal-fired projects have been canceled since the policy change.
While climate action remains inconsistent globally, with historical emitters in the Global North lagging, China stands out by actively promoting sustainable development aligned with climate obligations. As the world's second-largest economy, China's comprehensive environmental policies are evident in its trade, investment, and technological cooperation, reflecting a deep understanding of the global impact of its domestic activities.
Domestically, China has pledged to peak carbon dioxide emissions by 2030, as outlined in its initial Nationally Determined Contributions (NDCs) in 2016, with an updated NDC before COP26 in 2021. Further committing to carbon neutrality by 2060, monitoring groups like Climate Action Tracker predict that China's emissions will peak soon, achieving this milestone years ahead of governmental promises and resulting in lower per capita emissions compared to countries like the United States.
Reference(s):
The Green China Solution: Spearheading 'sustainable future' agenda
cgtn.com
