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The Big Picture

China's Climate Leadership

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  • China’s first major climate leadership claim was in 2020 when President Xi Jinping set targets for China to peak its carbon emissions by 2030 and become carbon neutral by 2060.

  • But this leadership attempt was short-lived as China's slowing economy took precedence, with Beijing instead encouraging production and exports of clean tech and turning China into the dominant force in the clean tech industry.

  • Still, China, which accounts for most of the world's coal consumption, plans to increase coal production and supply capacity this year.

China is embarking on a renewed climate diplomacy charm offensive after the US abdicated its leadership role. Describing its fight against climate change as a public good could enhance China's influence and further support its already surging clean tech exports. Beijing stands to win big if it can snatch away the title of climate leader at a time when the world faces increasingly frequent climate disasters while the US steps back to focus on developing and exporting more domestic fossil fuels. But it won't be easy.

Topics:
Tariffs, Electric Vehicles, CO2 Emissions, COP29, Renewable Electricity , Coal, Macroeconomics
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