China pledges climate change commitment
Reportedly, Xi Jinping has confirmed China’s commitment to achieving its major targets on fighting climate change. He also outlined specific actions to reduce carbon emissions.
In a conversation with US President Joe Biden, Chinese President Xi Jinping expressed his willingness to comply with the commitments made by Beijing to tackle the climate crisis. Mr. Xi clarified his position on the issue and other relevant topics. He stressed that the country would try to reduce emissions in order to curb climate and achieve green low-carbon development. This is why cooperation between Washington and Beijing will benefit each party and subsequently the whole world.
In April 2021, Xi Jinping unveiled an ambitious goal at the World Leaders’ Climate Summit to reach carbon neutrality by 2060 as its emissions would peak around 2030. He also vowed to monitor the implementation of national projects related to thermal energy, as well as the growth of coal consumption from 2021 to 2025. Notably, coal consumption is projected to drop significantly in the period from 2026 to 2030.
For several years, the Chinese authorities have been trying to mitigate environmental pollution. Therefore, excess capacity in the manufacturing industry is being cut and coal mines and heavy industry enterprises are being closed. Households are switching to gas heating. In 2018, the government introduced a tax on environmental pollution, which affected more than 260,000 enterprises.
The country's draft budget for 2021 includes 53.6 billion yuan ($8.2 billion) to reduce carbon emissions. In 2021, the Chinese government will allocate another $4.2 billion to combat air pollution, $3.3 billion to prevent water pollution, and $680 million to avoid soil contamination.