Blogs

In the past several years, China has encountered some tough challenges on a world stage that has become more and more difficult for the country to navigate. But as the Chinese word for crisis shows, one should not overlook the opportunities present in times of danger.

December 10, 2018, on the first day of high-level events in the second week of the 24th United Nations Climate Change Conference (COP 24), the first side event of the China Pavilion settled on the theme of carbon market. The event was hosted by the Chinese Ministry of Ecology and Environment’s Department of Climate Change, with supporters including the National Center for Climate Change Strategy and International Cooperation, the World Bank, the International Energy Agency, the Asian Development Bank, and Energy Foundation China.

Chinese companies are not just pouring concrete along the Belt and Road. Financing is a big part of China’s overseas involvement. There has been much discussion about China’s involvement in coal projects overseas. Critics point to the tremendous carbon footprint it may create, and call for a change in the practice. Analyses have highlighted the complicated dynamics that enable the continued build-up of coal fired power capacities around the developing world, against the stern warning of climate scientists.