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China's new climate promise

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Summary

China wants to be CO2-neutral by 2060 and massively reduce its emissions already from 2030. This is an important step towards meeting the goals of the Paris Climate Convention. But this is still a long way from achieving them.

What is it about

For the first time China has made a concrete commitment to reduce its CO2 emissions to zero by 2060. It is likely that China will only reach this target if it compensates and removes CO2 from the air. The latter option can be very dangerous, because the CO2 is stored in the soil, and any unintentional escape could cause enormous damage to people and nature.

Why this is important

China's promise is particularly remarkable because the world's second largest economy has an enormous impact on climate change. According to forecasts, China's CO2 neutrality alone could reduce global warming by up to 0.3 degrees Celsius.

This is an important step in the fight against climate change - but China must now follow up its commitments with action. And it should not be forgotten that there are other, sometimes even bigger, drivers of climate change besides CO2. For example, methane is far more harmful to the environment than CO2.

The Globalance view

China's promise of CO2 neutrality is a step in the right direction and can serve as a model for other countries. In the Globalance Future Mover we have selected companies that contribute directly to achieving China's goals. The growing number of states, regions and also companies that are tightening up their climate targets underlines the relevance and urgency of these megatrends.

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