One year after the People’s Republic of China (PRC) committed to achieving carbon neutrality, significant progress has been made and significant challenges have emerged.
The PRC's national carbon market has begun full operation and is expected to soon extend from the power sector to others, including steel and cement.
Administrative measures focused on curbing emissions are increasingly strengthened. The central government’s energy consumption and energy intensity targets are enforced with regular checks by the Central Inspection of Ecological and Environmental Protection (CIEEP), as well as the joint force of the party's central disciplinary agency.
The efforts to reach peak carbon, however, also face challenges. Many regions propose radical carbon targets and have adopted ‘campaign-style' emissions reduction. The current global surge in energy prices and widespread power shortages will likely force the PRC to adjust its climate and energy policies.
How is the PRC’s carbon market likely to develop? How will energy policies, in particular, industrial coal policy, change? How will the power shortage impact on the power sector? How will the PRC respond to the European Union’s carbon border adjustment? What do these developments mean for Australia?
The Australia-China Relations Institute at the University of Technology Sydney (UTS:ACRI) in partnership with the Institute for Sustainable Futures (ISF) will host an online webinar with Professor Zhongxiang Zhang, Director of the China Academy of Energy, Environmental and Industrial Economics, interviewed by Professor Stuart White, Director of ISF, exploring these questions and more.