Which sectors will benefit from the new climate joint statement issued by China and the United States?
On the morning of November 15, according to the websites of China's Ministry of Ecology and Environment and the U.S. government spokesperson's office, China and the United States jointly issued a new joint climate statement and announced the launch of the "Enhanced Climate Action Working Group in the 20s of the 21st Century".
The United States and China pledged to accelerate their respective renewable energy deployments from 2020 levels between now and 2030 to accelerate the substitution of kerosene, oil and gas for power generation. Both countries expect meaningful absolute reductions in emissions from the power sector to peak their peaks.
"In this critical decade of the 2020s, the two countries support the G20 Leaders' Declaration on efforts to triple global renewable energy capacity by 2030. China and the United States said.
According to the International Renewable Energy Agency (IRENA), the global installed capacity of renewable energy power generation in 2022 will be about 3,371 GW, a year-on-year increase of 9.6%.
Affected by the above-mentioned "statement", today's flush carbon neutrality sector in the super seventy percent of the stocks closed in the red. Among them, Yingke Regeneration (688087.SH) rose by more than 10%, Snow Dilong (002658.SZ) rose by the limit, Longyuan Technology (300105) and Ice Wheel Environment (000811.SZ) rose by more than 5%.
"The statement sets out the direction for the next step of China-US climate reduction work, and also lays a foundation for China-US climate cooperation as a whole. Fu Sha, director of strategic planning at Energy Foundation China (Beijing), told Jiemian News that the two countries reaffirmed the goal of "tripling the global installed renewable energy capacity by 2030" set at the G20 Leaders' Summit, and made it clear that the time for action will start this year, which is a positive signal.
Li Shuo, director-designate of the China Climate Center at the Asia Society Policy Institute, told Jiemian News that from a political point of view, the main tone of the statement is that China and the United States have resumed talks on climate, including the establishment of bilateral climate working groups and meetings or discussions on some issues, which is in line with the current trend of easing relations between the two countries. Strengthening dialogue and communication between the two countries is crucial to solving the climate problem.
In the area of methane and other non-CO2 greenhouse gas emissions, the United States and China have indicated that they will develop and include methane reduction actions/targets in their future 2035 NDCs to the United Nations.
According to the statement, these methane reduction actions/targets will be developed on the basis of their respective national methane action plans.
"This is a very big step forward. Fu Sha believes that China still lacks medium- and long-term quantitative targets for methane emission reduction.
On November 7, China's Ministry of Ecology and Environment, together with the Ministry of Foreign Affairs and the National Development and Reform Commission, released China's first Methane Emission Control Action Plan.Interface News previously reportedThe plan comes at a time when U.S.-China relations are stabilizing, and lays the groundwork for a new U.S.-China joint climate statement.
The statement also said that China and the United States will strengthen the coordinated control of greenhouse gas and air pollutant emissions, and promote policy measures and technology deployment.
In response to the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which will be held at the end of this month, China and the United States said in the statement that they will urge developed country parties to at least double their adaptation finance.
The United States and China have also committed to an economy-wide 2035 NDC that includes all greenhouse gases, and will call on countries at COP28 to adopt this principle. "This is fully in line with the requirements of the Intergovernmental Panel on Climate Change (IPCC). Fu Sha said.
In addition, the StatementIt covers cooperation between China and the United States in a variety of fields, which may benefit the renewable energy, CCUS, construction, transportation and other industries of the two countries.
The United States and China have announced that they will pursue at least five large-scale carbon capture, utilization and storage (CCUS) projects by 2030 in the fields of industry and energy.
Zhang Xian, director of the China Agenda 21 Management Center of the Ministry of Science and Technology, told Jiemian News that in the negotiations between China and the United States on CCUS, the United States had proposed more radical cooperation goals than the final version of the "Statement", but China did not agree.
Zhang Xian said that China is still in the peak period before 2030, and there is no pressure to reduce emissions absolutely, and the positioning of CCUS technology is still to promote demonstration in the short term, and at the same time deploy technology research and development in advance.
According to Zhang Xian's analysis, the CCUS cooperation reached between China and the United States will promote the development of China's CCUS in four aspects. The first is to accelerate the large-scale demonstration of CCUS technology in the field of industrial source refractory emission reduction, the second is to promote the construction of pipeline networks and infrastructure supporting large-scale projects, the third is the preliminary exploration of CCUS industry chain and business model, and the fourth is to encourage the development of CCUS technology in the construction of policies, regulations and standard systems.
In the fields of power, transportation, construction and waste, China and the United States will promote exchanges and cooperation among local provinces and cities, state governments, enterprises and think tanks.
The two countries also announced that they will relaunch the U.S.-China Energy Efficiency Forum to strengthen exchanges on energy conservation and carbon reduction policies in the fields of industry, buildings, transportation and equipment.
It is worth noting that the latest statement this year does not cover the long-awaited international timeline for China's coal phase-out.
"In terms of practical content, there has been no particularly significant breakthrough in the cooperation between the two sides, which is also in line with the reality of the current relationship between China and the United States. Li Shuo believes that because there are still limitations and challenges in the bilateral relationship, we cannot have unrealistic expectations about the climate action outcomes reached between China and the United States.
"This statement is like an insurance policy for the upcoming COP28 conference and the global climate governance process. Li Shuo said that if the climate cooperation between China and the United States ten years ago set a "ceiling", the current cooperation results may be regarded as "floors", but we cannot ignore the value of "floors".
In 2014, the heads of state of China and the United States issued the historic "China-US Joint Statement on Climate Change" in Beijing, in which the United States proposed for the first time that greenhouse gas emissions by 2025 would be reduced by 26%-28% compared with 2005, and China officially proposed for the first time that China's carbon emissions are expected to peak around 2030 and that the proportion of renewable energy in primary energy will be increased to 20% by 2030.
After the release of the "Statement", the plastics and refrigeration equipment production industries of the two countries may face stricter environmental access standards.
"China and the United States are determined to end plastic pollution," the statement said, and the two countries will work with all parties to develop a legally binding international instrument on plastic pollution, including in the marine environment.
Under the Kigali Amendment, both countries will also ensure that all refrigeration equipment produced adopts a strong minimum energy efficiency standard.
