The second Steering Committee Meeting of the Sino-German Cooperation on Climate Change (SGCCC) took place on 24 March in a hybrid setting.
China, a major player in terms of climate change and biodiversity conservation – it is one of 12 mega-biodiversity countries in addition to being the currently largest absolute CO2 emitter – wants to create synergies for climate and biodiversity action on its path towards achieving green development and living in harmony with nature. IKI projects support this.
After July 2021 reports had shown that the technical service company China Carbon Energy Investment and S&T (中碳能投科技有限公司) falsified emission data and supported key enterprises in their effort to manipulate their data of the first compliance cycle, the Ministry of Ecology and Environment (MEE) announced to increase its attention on the quality of emission data.
On 23 March 2022, the National Development and Reform Commission (NDRC) published the “Medium and Long-term Plan for Hydrogen Energy Industry Development (2021-2035)”.
On 22 March 2022, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued the “14th Five-Year Plan for a Modern Energy System” (FYP; 2021-2025), which emphasizes ensuring energy security and accelerating the green and low-carbon energy transition.
After years of preparation and piloting, trading in the national Emission Trading System (ETS) was launched in July 2021.
In order to thoroughly implement the major strategic decisions of carbon peaking and carbon neutrality and to explore differentiated institutional mechanisms for climate investment and financing, on 23 December 2021 the MEE together with other 8 administrative bodies and finance intuitions circulated the Notice of the Pilot Work on Climate Investment and Financing (and attached the drafted Climate Investment and Financing Pilot Work Scheme).
At the end of October, just days before the beginning of the world climate conference in Glasgow and amidst the release of the Chinese LEDS until 2060 and updated NDC for 2030, several documents of the “1+N framework” were released. The “Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality
The Multilateral Cooperation Centre for Development Finance (MCDF) is a new, but prospectively important initiative in international development finance, initiated by China at the inaugural Belt and Road Forum in 2017, and now endorsed by eight leading international development banks worldwide.
