China Must Cut Emissions by 85% in Three Decades to Hit Bold Carbon Target, Report Says

Caixin Global | Oct 23, 2020 at 7:26 PM
  • China, the world’s largest greenhouse gas producer, should slash its emissions by up to 85% by 2050 to hit its bold carbon neutrality target, a new report says.
  • It adds that such an ambitious policy shift would require up to 100 trillion yuan ($14.9 trillion) of investment between now and 2050.
  • Although the report’s authors estimate that the plan would require investment of between 90 and 100 trillion yuan over the next 30 years, they also predict that the so-called “green economy” will contribute more than 2% of China’s GDP by 2050, potentially canceling out the economic costs of decarbonization.