Zürcher Nachrichten - China backpedals on climate promises as economy slows

EUR -
AED 4.074348
AFN 78.016446
ALL 99.632691
AMD 430.125276
ANG 2.001452
AOA 1022.185011
ARS 1059.19379
AUD 1.663304
AWG 1.996663
AZN 1.890141
BAM 1.95546
BBD 2.24231
BDT 132.706945
BGN 1.95546
BHD 0.417727
BIF 3207.842712
BMD 1.109257
BND 1.442349
BOB 7.673667
BRL 6.209738
BSD 1.110507
BTN 93.299791
BWP 14.748438
BYN 3.634369
BYR 21741.442931
BZD 2.238511
CAD 1.506205
CDF 3153.618884
CHF 0.935032
CLF 0.037926
CLP 1046.498195
CNY 7.863419
CNH 7.869682
COP 4622.996862
CRC 583.298665
CUC 1.109257
CUP 29.395318
CVE 110.245847
CZK 25.053246
DJF 197.765643
DKK 7.467192
DOP 66.448456
DZD 146.879483
EGP 53.689673
ERN 16.638859
ETB 127.467256
FJD 2.461225
FKP 0.86358
GBP 0.84473
GEL 2.984335
GGP 0.86358
GHS 17.401977
GIP 0.86358
GMD 77.648405
GNF 9597.332687
GTQ 8.591507
GYD 232.349635
HKD 8.646827
HNL 27.519219
HRK 7.618478
HTG 146.624527
HUF 394.086268
IDR 17147.398392
ILS 4.13438
IMP 0.86358
INR 93.164136
IQD 1454.847254
IRR 46705.278687
ISK 152.600954
JEP 0.86358
JMD 174.369707
JOD 0.786135
JPY 157.897273
KES 142.98516
KGS 93.403678
KHR 4524.214023
KMF 493.069075
KPW 998.331474
KRW 1485.040811
KWD 0.338779
KYD 0.925439
KZT 532.537484
LAK 24532.738008
LBP 99450.422807
LKR 331.782361
LRD 216.562377
LSL 19.696178
LTL 3.275349
LVL 0.670979
LYD 5.287081
MAD 10.781927
MDL 19.323643
MGA 5045.123527
MKD 61.524312
MMK 3602.824416
MNT 3769.255622
MOP 8.914251
MRU 43.799391
MUR 50.981885
MVR 17.027519
MWK 1925.765443
MXN 22.165457
MYR 4.803643
MZN 70.853853
NAD 19.696178
NGN 1780.535853
NIO 40.882898
NOK 11.888077
NPR 149.280066
NZD 1.796514
OMR 0.426676
PAB 1.110507
PEN 4.212368
PGK 4.396236
PHP 61.830417
PKR 309.345658
PLN 4.285893
PYG 8578.509684
QAR 4.047997
RON 4.974801
RSD 117.007673
RUB 99.832656
RWF 1492.140775
SAR 4.164333
SBD 9.259888
SCR 15.236253
SDG 667.222339
SEK 11.428845
SGD 1.446143
SHP 0.86358
SLE 25.343537
SLL 23260.535519
SOS 634.689737
SRD 32.153491
STD 22959.386371
SVC 9.717312
SYP 2787.04244
SZL 19.690579
THB 37.43082
TJS 11.827445
TMT 3.893493
TND 3.371114
TOP 2.599771
TRY 37.601053
TTD 7.526692
TWD 35.541495
TZS 3020.675228
UAH 45.516193
UGX 4125.283328
USD 1.109257
UYU 44.852208
UZS 14112.548274
VEF 4018342.815906
VES 40.653047
VND 27304.368252
VUV 131.69322
WST 3.106944
XAF 655.843063
XAG 0.03972
XAU 0.000444
XCD 2.997824
XDR 0.824757
XOF 655.843063
XPF 119.331742
YER 277.702966
ZAR 19.802451
ZMK 9984.650719
ZMW 29.179931
ZWL 357.180396
  • SCS

    -0.6100

    13.23

    -4.61%

  • BCE

    -0.2000

    35.75

    -0.56%

  • RELX

    0.3100

    46.2

    +0.67%

  • BCC

    -0.6600

    124.13

    -0.53%

  • NGG

    -0.3700

    67.62

    -0.55%

  • RBGPF

    58.7100

    58.71

    +100%

  • CMSC

    0.0600

    25.02

    +0.24%

  • CMSD

    0.1000

    25.04

    +0.4%

  • JRI

    0.0300

    13.12

    +0.23%

  • RIO

    -0.6800

    59.71

    -1.14%

  • GSK

    0.5400

    43.67

    +1.24%

  • RYCEF

    -0.0300

    6.07

    -0.49%

  • VOD

    -0.2200

    9.97

    -2.21%

  • AZN

    0.0500

    83.05

    +0.06%

  • BP

    -0.4500

    31.9

    -1.41%

  • BTI

    0.3200

    38.61

    +0.83%

China backpedals on climate promises as economy slows
China backpedals on climate promises as economy slows

China backpedals on climate promises as economy slows

When China's President Xi Jinping issued his traditional Lunar New Year wishes from the country's coal heartland in January, the subtext was clear: Beijing is not ready to kick its coal addiction, despite promises to slash emissions.

Text size:

The ink had barely dried on the hard-fought deal struck at last year's United Nations climate conference in Glasgow when Beijing's backslide on pledges began.

The country's central economic planner has watered down a roadmap to slash emissions, greenlighted giant coal-fired power plants, and told mines to produce "as much coal as possible" after power shortages paralysed swathes of the economy last year.

Environmentalists are concerned this would mean China would continue to pollute beyond the 2030 deadline by which it has promised to have reached peak emissions.

Xi's trip to mining towns in Shanxi –- China's biggest coal producing province -- saw him making crispy noodle snacks with families "recently lifted out of poverty".

"We are not pursuing carbon neutrality because others are forcing us, it's something we must do. But it can't be rushed," he said later, while inspecting a thermal power plant.

"We can't delay action, but we must find the right rhythm."

Days earlier, Xi told Communist Party officials in Beijing that low-carbon goals should not come at the expense of "normal life" -- a major change in rhetoric from his 2020 announcement at a UN assembly that China would be carbon neutral by 2060.

- Dependent on coal -

The Glasgow pact encourages countries to slash their emissions targets, with the aim of limiting warming to well below 2 degrees Celsius (36 degrees Fahrenheit) ideally to 1.5 degrees.

Experts have warned that global emissions must be halved within a decade to have a chance of achieving that goal.

A report issued by the UN's climate science advisors on Monday said that warming beyond 1.5C would wreak permanent damage to the planet and that nearly half the world's population is already "highly vulnerable" to the accelerating impacts of climate change.

"The world's biggest polluters are guilty of arson of our only home," UN chief Antonio Guterres said in response to this most compelling scientific overview of climate change impacts to date.

China generates an estimated 29 percent of the world's greenhouse gas emissions -- double the US share and three times that of the European Union.

Environmentalists had hoped that post-Glasgow, Beijing might announce a maximum carbon cap for the whole country but Li Shuo, a campaigner for Greenpeace China, told AFP that is now "off the table".

Policymakers in Beijing have long walked a tightrope balancing climate objectives with domestic growth.

Beijing has pledged to curb coal consumption after 2025 -- but last year, half of China's economy was fuelled by it.

Now as growth slows, authorities are resorting to an old formula of propping up smokestack industries to juice the economy.

In late 2021 China began construction on 33 gigawatts of coal-fired power plants -- the most since 2016 -- that will emit as much carbon dioxide annually as Florida, according to data from Global Energy Monitor.

Even more new plants are being built in the first few months of 2022 as well, all of which can operate for 40 years on average.

- 'Ambition in jeopardy' -

During the Glasgow talks the Chinese delegation -- like many others -- promised a detailed roadmap to peak emissions for different industries and regions over the next decade.

Existing guidelines issued just before the talks only include vague targets for increasing energy efficiency and say renewables will supply a quarter of China's electricity by 2030.

They have not yet been updated.

This "suggests that the politics are tough, ambition is in jeopardy, and the regulators are reserving as much wiggle room (to pollute) as possible for the next few years," Greenpeace's Li said.

Earlier last month, Beijing pushed back the deadline for slashing emissions from the steel sector -- China's biggest carbon emitter -- five years to 2030.

"Steel and cement need to peak earlier than the country as a whole to ensure China's targets are on track," said Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air.

Meanwhile, China's investments in overseas oil and gas projects tripled to $10.9 billion last year, according to a Fudan University report in January.

- Renewable bottlenecks -

Another of China's key pledges -- to increase wind and solar capacity to three times the current level over the next decade -- has been blown off-course as well by supply chain disruptions and soaring raw material costs.

The price of polysilicon, used to make solar panels, jumped 174 percent in December from the previous year.

Analysts fear more fossil fuels will be burnt to meet China's growing energy needs as the rollout of renewables slows.

"The political signals are much more cautious (than before), saying the transition will be slow, and coal would remain a mainstay of China's energy supply for a long time," said Myllyvirta.

D.Smith--NZN