China formally agreed on Tuesday to reduce the continuous rise in its greenhouse gas emissions within the next 15 years. The most important greenhouse gas emitter of the World said it would invest more in the development of clean energy and alternative solutions to counteract this progression of infected air
The Chinese plan is linked with goals previously decided in last November, when Beijing reached a key climate change deal with Washington to cap its emissions by 2030.
“China’s carbon dioxide emission will peak by around 2030 and China will work hard to achieve the target at an even earlier date,” Chinese Premier Li Keqiang said in a statement after meeting French President Francois Hollande in Paris.
French Foreign Minister Laurent Fabius praised China’s plan as an “excellent sign” for the United Nations summit in Paris from Nov. 30th to Dec. 11th. Such summit aims to reinforce main decisions about global warming, unlike the past failures.
China did not, however, say at what level its emissions would peak. The cap is the first set by Beijing, which had argued that it needed to burn more fossil fuels to end poverty and that developed nations must lead in climate action.
Beijing also emphasized the fact that it would cut its CO2 emissions per unit of gross domestic product by 60-65 % from 2005 levels by 2030. Such promise will then be added to the 40-45% cut already set by Beijing for 2020.
The First economic power of the world also aims to increase the share of non-fossil fuels in its primary energy consumption to about 20 % by 2030, as the country starts to deeply being concerned by more heatwaves, floods and sea levels rising.
Rise of the carbon price
After the news EU carbon prices rose by 1.4 % higher making it to 7.47 euros a tone.
China is currently responsible for a quarter of world greenhouse gases. About 40 countries emitting just over 30 % of world emissions have previously submitted their plans, including the United States and the European Union.
On their own, the US and Brazil pledged to increase their share of renewable energy in electricity generation. South Korea said it would cut greenhouse gas emissions by 37 % below the usual business levels, deeper than its earlier intention.
“The United States and China can no longer use inaction by the other as an excuse for ignoring the risks we all face from climate change. Both countries are acting,” said Bob Perciasepe, president of the U.S. Center for Climate and Energy Solutions think-tank.
However, some experts around the world are convinced that China can peak its emissions before 2030, taking examples such as a fall in coal consumption in 2014. The Chinese government put a strong pressure on the diverse local authorities to accelerate the air pollution curbing as well as to develop renewable energies faster.