CCIEE Held 158th Monthly Economic Talk Themed of Accelerating the Pace of Energy Conservation and Emission Reduction to Address the Losses and Damages Caused by Climate Change

On November 30, 2022, the China Center for International Economic Exchanges (CCIEE) held the 158th session of the "Monthly Economic Talk" via video conference with the theme of "Accelerating the Pace of Energy Conservation and Emission Reduction to Address the Losses and Damages Caused by Climate Change." The meeting was chaired by Zhang Xiaoqiang, Executive Vice Chairman and CEO of CCIEE. Wang Yiming, Vice Chairman of CCIEE and Chairman of the Academic Committee at CCIEE, Xu Huaqing, Director of the National Center for Climate Change Strategy and International Cooperation (participating online), along with Hu Yongyun, Professor at the Department of Atmospheric and Oceanic Sciences, Peking University, and Vice Chairman of the China Meteorological Society (participating online), delivered speeches respectively.

Zhang Xiaoqiang pointed out that the Carbon Border Adjustment Mechanism (CBAM) proposed by the European Parliament is an unfair unilateral trade protection measure which not only violates WTO rules but also fails to meet the basic requirements of the "common but differentiated responsibilities" principle outlined in the United Nations Framework Convention on Climate Change and the Paris Agreement. It will also widen the income gap between developed and developing countries. To actively address the challenges posed by such international green trade rules, it can be done through implementing equivalent carbon border adjustment taxes on imported products, establishing standardized carbon emission accounting systems, intensifying efforts for green and low-carbon transitions, and establishing a global carbon emissions trading market.

Wang Yiming stated that over the past decade, China has played an increasingly important role in addressing global climate change, becoming an active participant and significant contributor. The promotion of carbon peak and carbon neutrality requires striking a balance between carbon reduction and economic growth. It is necessary to maintain a reasonable economic growth rate to achieve the goal of reaching a medium level of per capita GDP among moderately developed countries, while also achieving the target of stabilizing and reducing emissions after reaching the carbon peak. Under these two constraints, the optimal path should be sought, including promoting technological progress and developing zero-carbon energy.To promote carbon peaking and carbon neutrality, the core lies in the green and low-carbon transformation of energy. It is important to handle the relationship between energy green and low-carbon transformation, energy development, and energy security. Accelerating the planning and construction of a new energy system, with wind power, solar power, and biomass energy as the main sources, is necessary to form a zero-carbon energy pattern characterized by complementary generation, grid integration, energy storage, and multi-energy utilization. This involves constructing a new zero-carbon energy supply system and terminal energy consumption system, while significantly improving energy utilization efficiency.

Xu Huaqing pointed out that continued global warming will have irreversible impacts. Many adaptation actions to climate change have been proposed globally, but their effective implementation depends on the governance capacity and action taken by each country. China has preliminarily formed a policy system for carbon peaking and carbon neutrality called "1+N." By correctly understanding and grasping the "dual-carbon" goals through the keywords of "leading, compelling, driving, and breakthrough," China can actively and steadily promote carbon peak and carbon neutrality initiative. Currently, the most important task is to strictly control coal-fired power projects and the growth of coal consumption, promoting an early peak in coal consumption to ensure the timely achievement of carbon peak and to minimize the economic and social costs.

Hu Yongyun stated that due to the large-scale emissions of greenhouse gases from human activities, the global average temperature has risen rapidly by approximately 1 degree Celsius in the past century., which has led to increased frequency of extreme disasters. Since 1950, global extreme heatwaves, heavy rainfall, and drought events have increased by about 41%, 19%, and 12% respectively. These extreme weather events are highly destructive and pose a serious threat to social and economic development as well as human lives. Coastal regions worldwide will be affected by rising sea levels and will suffer from various degrees of extreme weather events. China is the country most affected by extreme meteorological disasters, with meteorological disasters accounting for over 90% of all natural disasters. Each year, they cause economic losses of approximately 300 billion yuan.

After the speeches, the participating experts engaged in interactive exchanges with the media. Some researchers and member units of CCIEE, research institutions, enterprises, and news media participated in the conference through online channels.