In the context of transitioning towards carbon neutrality in China by 2060, GIZ and WRI (World Resources Institute) co-hosted a Beijing Climate Talk hybrid workshop on March 19. Two keynote speakers from WRI and McKinsey shared their insights about China’s net-zero pathway respectively, followed by a tour-de-table discussion among participants from different organizations, including Children’s Investment Fund Foundation, Climate Analytics, Climate Investment and Finance Association, Energy Foundation, Greenovation Hub, Renmin University, and Tsinghua National Institute of Financial Research.
The two keynote speakers both highlighted the sector focus on industry and electricity generation for emissions reduction. While WRI advocated for a regions-based approach where three key regions in China, Beijing-Tianjin-Hebei (JJJ), Yangtze River Delta (YRD) and Greater Bay Area (GBA) should strive for an early peak, McKinsey paid more attention to the role of emerging technologies such as Carbon Capture Utilization and Storage (CCUS) and green hydrogen in decarbonizing the economy.
The discussants also expressed their viewpoints in reflection of the keynote speeches, including on the importance of a just transition, the need for transformation of the financial sector to channel capital towards green activities and towards building climate-related risk management capacities, the necessity of clear policy signals on a coal phase-out and on the benefits of international cooperation.