China could reach carbon neutrality by 2060. This is the commitment announced by Chinese President Xi Jinping at the 75th General Assembly of the United Nations, thereby accelerating the global transition towards green and low-carbon development.
And this is a very good news. According to Refinitiv, a global provider of data and infrastructure for financial markets, the new target marks two significant changes from China's climate commitment formulated under the 2015 Paris Agreement.
Previously, China's commitment included the reaching the peak of emissions around 2030 moving to 2030. Second, this is the first time that the ambitious goal of carbon neutrality has been publicly announced with a precise time limit.
"The large scale of China's energy consumption and emissions will require significant efforts to achieve the goal," said Yuan Lin, an analyst at Refinitiv Carbon Research.
China could reach carbon neutrality by 2060
Experts said that: "This is an important announcement, as China has set a final target for emissions.
Leaders around the world will want to understand the details of how China will proceed in achieving these actions." They also said China's promise to take more vigorous and effective approaches in pursuing green and sustainable development.
Jarl Krausing, international director of the ecological think tank Concito, believes the goal is realistic. To the Danish newspaper Politiken, Krausing said tree planting will become part of China's strateg. Economics of Columbia University said China will reach the target even before the date.
As China is in the process of introducing world-class technologies in the energy and high-tech greens. According to the Climate Action Tracker (CAT), if China's target is met, it will reduce global warming projections by about 0.2-0.3 degrees, the largest reduction ever estimated by the CAT.
"I welcome China's ambition to reduce emissions and achieve carbon neutrality by 2060. It is an important step in our global fight against climate change under the Paris Agreement," he said in a tweet from the president of the European Commission Ursula von der Leyen on Wednesday 23 September.
Experts also said: "We will work with China on this goal, it was also a significant statement regarding the United States, which spoke of what they will do for their country, but not what they will do for others. Countries."