China forges ahead with green transition in midst of global energy crisis

Overseas impact

From an international perspective, China's coal policy is set to have a notable impact on driving the green transition. Last year, China pledged to end financing for building coal plants overseas, which CAT estimates will result in the cancellation of 43 gigawatts of new coal projects across Asia.

CCS Director Hu said that green projects within the Belt and Road Initiative are also helping to drive down emissions beyond China's borders.

"China is helping developing countries, especially small island countries, African countries and LDCs (least developed countries), to enhance their capacity and capability to cope with climate change and reduce the adverse effects of climate change," Hu said.

Stern said that increased collaboration with other large economies must also drive China's climate agenda.

"It is critically important that China and the United States, as the world's two largest emitters of greenhouse gasses, are able to work together on tackling climate change," he said, adding that the United States has now passed a landmark bill to massively increase investments in clean energy.

Xie Zhenhua, China's special envoy for climate change, said in August that the US is fully responsible for the current halt in China-US climate cooperation.

In a news conference on Sept 20, China's Foreign Ministry spokesperson Wang Wenbin said that China remains receptive to working with the US on climate change. The two nations signed a joint declaration to address the global climate crisis at the United Nations Climate Change Conference of the Parties, or COP26, in Glasgow in November.

"If China and the US can manage their bilateral relations well, reduce impediments and negative factors and jointly respond to climate change, public health and food and energy security challenges, people of both countries and the world at large will enjoy more benefits," Wang said.