The 27th Conference of the Parties was held from November 6 – 20 in Sharm el-Sheikh, Egypt. China supported the inclusion of loss and damage on the conference’s agenda culminating in the establishment of an historic loss and damage fund.
The newly released Notice clarifies the definition of “energy used as raw material” in previous government documents.
China approved 23 coal power projects in September 2022. The new approvals represent a significant increase compared to 2021 approvals, as China looks back on a period of power shortages and seeks to strengthen supply security through coal, but the new projects also are better adjusted to operate jointly with renewables.
High temperatures and droughts reduced output from hydropower in Sichuan province, while the heat caused residential demand to soar. Continued power exports further exacerbated the supply shortage.
On August 18, 2022, the Ministry of Science and Technology (MoST), along with nine other central departments, including the National Development and Reform Commission (NDRC), released the “Science and Technology Support Carbon Peaking and Carbon Neutrality Implementation Plan (2022-2030).”
On August 10, 2022, the list of climate investment and finance pilots was announced, and a total of 23 climate investment and finance pilots were approved.
On August 1, 2022, China’s Ministry of Industry and Information Technology (MIIT), National Development and Reform Commission (NDRC), and Ministry of Ecology and Environment (MEE) jointly released the implementation plan for carbon peaking in the industrial sector.
On July 29, 2022, the Green Bond Standard Committee released the “China Green Bond Principles”. The Principles are self-regulated frameworks for stakeholders’ reference to best practice of the Green Bond Market.
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