China, the world’s most populous country and second-largest economy, has been making headlines recently for a variety of reasons. From trade disputes to environmental achievements, here are some updates on China’s current affairs as reported by Carbon Brief on June 15, 2023.
CBAM Dispute
One of the most significant issues facing China right now is the ongoing dispute over the EU’s proposed Carbon Border Adjustment Mechanism (CBAM). The CBAM is a policy that would require importers to pay a fee based on the carbon emissions associated with the production of the goods they are importing. The goal is to level the playing field for European companies that are subject to strict emissions regulations and prevent “carbon leakage” – the phenomenon of companies moving production to countries with laxer environmental standards.
China, which is the world’s largest emitter of greenhouse gases, has been pushing back against the CBAM, arguing that it is discriminatory and violates World Trade Organization rules. The Chinese government has threatened to retaliate with its own measures if the EU goes ahead with the CBAM.
The situation remains tense, with both sides digging in their heels. However, some experts believe that a compromise could be reached if China agrees to take more ambitious climate action and reduce its emissions.
New Energy Achievement
Despite the CBAM dispute, China has been making impressive strides in renewable energy. According to Carbon Brief, China installed more than 120 gigawatts of new wind and solar capacity in 2022, which is more than the entire installed capacity of Germany.
China is also leading the world in electric vehicle adoption, with more than 4 million EVs sold in 2022. The Chinese government has set a target of having 50% of all new car sales be electric by 2035.
These achievements are significant because China’s rapid economic growth has historically been fueled by coal, which is a major contributor to greenhouse gas emissions. By transitioning to cleaner energy sources, China is showing that it is serious about tackling climate change.
Extreme Heat
Unfortunately, China is also experiencing the effects of climate change firsthand. Carbon Brief reports that the country is currently in the grip of a heatwave, with temperatures in some areas reaching as high as 50°C (122°F). The extreme heat has led to power outages, crop failures, and even deaths.
China is not alone in experiencing extreme weather events – the world as a whole is seeing more frequent and severe heatwaves, droughts, floods, and storms. However, as one of the largest emitters of greenhouse gases, China has a crucial role to play in mitigating the effects of climate change.
Conclusion
China’s current affairs are complex and multifaceted, with both positive and negative developments. While the CBAM dispute is a source of tension between China and the EU, China’s achievements in renewable energy and electric vehicle adoption are encouraging signs that the country is taking climate change seriously. However, the extreme heatwave currently affecting China is a stark reminder of the urgent need for global action to reduce greenhouse gas emissions and prevent further damage to our planet.
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