It is not surprising that China’s carbon emissions are growing given relatively strong economic activity compared to the developed world. Or perhaps it is given China’s pledge of carbon neutrality by the year 2060. China’s contribution to carbon in our atmosphere is approaching 10 billion tons annually, an amount that is greater than the US and Europe combined. To place that in context, according to the World Bank, as of 2019 the Chinese economy is only 38.6% of US and EU economic output. It is important to note that carbon output in the US and Europe has been steady and even declining as their economies are expanding. Another startling fact is the Chinese economy represents 16.3% of Global GDP (also World Bank data) and yet contributes nearly 29% of the 34.2 billion tons of carbon emissions, according to the British Petroleum Statistical Review. In our view, China has a great deal to do to meet its 2060 carbon neutrality pledge on its way to becoming the world’s largest economy, starting with action on its COP21 Paris commitments including reducing its dependence on coal. [chart courtesy British Petroleum Statistical Review, © 2021]
