China Sets New Climate Goals, Signaling Continued Clean Energy Investment Amid Global Debate
BEIJING - A day after former U.S. President Donald Trump reiterated his dismissal of climate change as a “scam,” China announced new targets for emissions reduction and renewable energy expansion,reaffirming its commitment to clean energy despite calls for more aspiring action. The nation aims for a 30% reduction in emissions by 2035, a goal analysts believe it is already on track to surpass given its current trajectory.
The announcement comes as china continues to dominate global clean energy investment. Last year, the country accounted for roughly one-third of worldwide spending, totaling $625 billion, directed towards the production of solar panels, wind turbines, electric vehicles, and related technologies. This investment has demonstrably lowered the cost of these goods and fueled exports to rapidly developing economies. Over the past four years, China has invested over $220 billion in clean-tech manufacturing facilities internationally, according to the Net Zero Industrial Policy Lab.
Currently,China’s wind and solar capacity stands at 1,400 GW,and the amount of new wind and solar projects under construction last year was double that of the rest of the world combined,as reported by Global Energy Monitor. Renewables have now surpassed coal in terms of installed capacity, according to the International Energy Agency, and are actively displacing fossil fuels within the country’s energy mix.
While the stated goal is a sixfold increase in wind and solar capacity to 3,600 GW, experts suggest this target is conservative. “This target would require less than 200 GW per year versus the 360 GW added last year and substantially more expected,” noted analyst Myllyvirta. Current trends indicate China’s nonfossil energy share could exceed 40% by 2035, easily surpassing the announced 30% emissions reduction target. “It’s a highly conservative set of targets that provides little clarity on China’s actual emissions pathway over the next decade, as the clean energy boom will enable the country to achieve much more,” Myllyvirta added.
Despite calls from international leaders for more aggressive action, many acknowledge the significance of China setting concrete targets for its vast economy. Rachel Kyte, the United Kingdom’s special climate representative, highlighted China’s historical pattern of exceeding its stated goals. “China normally over delivers and under promises, right? So the reverse of many other countries,” she said at a Climate Week event Wednesday.
Kyte cautioned against dismissing the targets simply as they originate from China, urging that they “should be welcomed on the basis that they will over deliver again.” The announcement underscores China’s continued role as a key player in the global transition to clean energy, even as debates surrounding climate policy continue worldwide.
