Skip to Content Facebook Feature Image

China reaches its 2030 NDC targets ahead of schedule

China

China

China

China reaches its 2030 NDC targets ahead of schedule

2024-11-07 16:42 Last Updated At:17:57

China has reached its 2030 national emission goals, or the Nationally Determined Contributions (NDCs), ahead of schedule, thanks to the country's significantly boosted green energy capacity and expanding carbon credit trade market, according to the Ministry of Ecology and Environment. NDCs are the efforts by each country to reduce national emissions and adapt to the impacts of climate change under the Paris Agreement. China's NDC goals are to reach carbon peak by 2030 and achieve carbon neutrality by 2060.

According to the Department of Climate Change Affairs under the Ministry of Ecology and Environment, China met its 2030 targets for non-fossil energy development and forestation in 2023. Its domestic non-fossil energy consumption has reached around 18 percent of the total, and its forest stock volume has reached 19.49 billion cubic meters, an increase of 6.5 billion cubic meters from the 2005 figure. By the end of July 2024, China's installed green energy capacity had reached over 1.2 billion kilowatts, more than doubled compared to the number in 2020, also accomplishing its 2030 target six years in advance.

Another cornerstone of China's strategy to meet its climate commitments is its carbon credit trade market, which is expanding to cover more major carbon-emitting industries, said Xia Yingxian, director of the Department of Climate Change Affairs under the Ministry of Ecology and Environment.

"China's carbon market launched online trading in July 2021. The accumulated transaction volume of carbon emission allowances (CEA) has approached 500 million tonnes, with a turnover of 29.7 billion yuan (about 4.1 billion U.S. dollars). The trading price is steadily increasing, and now fluctuates around 100 yuan (about 14 U.S. dollars) per tonne. In general, the market is functioning smoothly," said Xia. The government is going to integrate high-emission industries into the carbon credit system, with cement, steel, and aluminum smelting industries as pioneers, according to Xia.

"We drafted the Working Plan for National Carbon Emissions Trading Market to Cover Cement, Steel, and Aluminum Smelting Industries, and, after getting feedback from all parties, we implemented technical specifications such as accounting and verification and guides for cement and aluminum smelting industries. We are also working on the carbon accounting and verification guides for the steel industry," said Xia.

China is now exploring the establishment of new NDC targets for 2035, with plans to submit the updates to the United Nations Framework Convention on Climate Change (UNFCCC) secretariat by 2025.

China reaches its 2030 NDC targets ahead of schedule

China reaches its 2030 NDC targets ahead of schedule

To meet the timeline of starting independent customs operations by the end of 2025, the government of south China's Hainan province issued a series of regulations to stipulate import and export management of Free Trade Port (FTP), with two major documents on environmental safety and medicine import put into effect recently.

To further explain the effects and scope of the two documents, the local government held press conferences on Monday and Tuesday.

The "Several Provisions on the Management of Entry Environmental Safety Access in the Hainan Free Trade Port" took effect on Wednesday, which clarified the scopes and responsibilities regarding potential environmental issues of vessels and import products.

"The document regulates the access management of special items such as hazardous waste, remanufactured products, carry-on items of entry personnel, and radioactive materials. Meanwhile, it clarifies that the storage sites for transit goods should meet environmental safety management requirements, to avoid environmental pollution," said Di Weijie, deputy director of the Department of Ecology and Environment of Hainan Province.

In addition, the administrative rule on zero-tariff import of medicines and medical devices in Hainan Free Trade Port was put into effect on Tuesday, stipulating that before Hainan FTP starts independent customs operations, medical institutions, higher medical education institutions, and pharmaceutical research institutes registered in the Hainan's Boao Lecheng Pilot Zone with independent legal status and approved eligibility can import designated pharmaceuticals and medical devices under the zero-tariff policy.

"The scope [of medicines and medical devices imported under 'zero-tariff' policy] consists of two categories: imported pharmaceuticals and medical devices already approved for registration in China, and specially licensed pharmaceuticals and medical devices for the Boao Lecheng Pilot Zone," said Jia Ning, director of Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration, during the press conference.

With policy supports and related efforts like the Ever Lasting International Innovation Medicine Exhibition held in the Boao Lecheng Pilot Zone, medicine and health care is expected to be a new pillar industry for Hainan.

New regulations clarify environment, medicine import issues in Hainan Free Trade Port

New regulations clarify environment, medicine import issues in Hainan Free Trade Port

Recommended Articles