Climate Politics
China’s Top Climate Cop Says $19 Trillion Needed to Meet Targets
A sign warning residents not to burn trash in order to reduce pollution, in front of a coal-fired power station in Tongling, Anhui province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s ambitious climate targets will require nearly $19 trillion of investment to accomplish, according to the nation’s top climate envoy.
The 130 trillion yuan of spending needed to peak emissions by 2030 and zero them out by 2060 will bring great opportunities for the new energy industry, Xie Zhenhua said at a conference last week, according to a report from the National Business Daily. China already has the world’s largest solar and wind power fleets, and is installing massive amounts of new panels and turbines in remote desert areas.