Skip to main content

China to be at heart of climate business boom: Paulson Institute

Abstract : China will be at the heart of the climate business boom, said Deborah Lehr, vice chairman and executive director of the Paulson Institute, at the International Finance Forum on Sunday.

BEIJING, May 30 (Xinhua) — China will be at the heart of the climate business boom, said Deborah Lehr, vice chairman and executive director of the Paulson Institute, at the International Finance Forum on Sunday.

The scale of China’s emissions creates opportunities, and the country is becoming a leader in innovative green finance, Lehr explained.

She hailed the upcoming launch of China’s carbon exchange, noting that with just one industry, it will cover not only about 45 percent of China’s own carbon emissions but 14 percent of global emissions.

China is planning to start online transactions in the national carbon market by the end of next month, the country’s environment ministry spokesperson told a regular press conference this week.

When the eight other polluting industries are added to the exchange, it could potentially cover up to 30 percent of global emissions, according to Lehr.

“Carbon could become the new currency with China creating the terms, the standards, and the pricing,” she added.

A recent Goldman Sachs study modeling China’s potential path to achieve net zero carbon by 2060 estimates that there will be 16 trillion U.S. dollars in clean-tech infrastructure investment by 2060 allowing for the creation of 40 million new jobs.

Citing the report, Lehr noted that China has started to further open its businesses of environmental goods and services to foreign firms. “That’s good business,” she said. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China to be at heart of climate business boom: Paulson Institute

Labels:

Comments

Post a Comment

Popular posts from this blog

China’s non-manufacturing PMI down in April

Abstract : The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 54.9 in April, down 1.4 percentage points from the March figure, the National Bureau of Statistics said Friday. BEIJING, April 30 (Xinhua) — The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 54.9 in April, down 1.4 percentage points from the March figure, the National Bureau of Statistics (NBS) said Friday. A reading above 50 indicates expansion, while a reading below reflects contraction. The expansion of the non-manufacturing sector continued to gather momentum but at a slower pace, said senior NBS statistician Zhao Qinghe. In April, the sub-index for business activities in the services sector stood at 54.4, down from 55.2 in March. The sub-indexes for business activities in rail services, air transportation and accommodation came in at above 65, indicating the rapid growth of business volumes in these areas, according to Zhao. The statisti...
Post a Comment
Read more

China expands QDII quotas as outbound investment demand grows

Abstract : China's foreign exchange regulator on Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. BEIJING, June 3 (Xinhua) — China’s foreign exchange regulator on Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. A total of 10.3 billion U.S. dollars in quotas was granted to 17 institutions under the Qualified Domestic Institutional Investor (QDII) program, a scheme for outbound investment , according to the State Administration of Foreign Exchange (SAFE). Among these institutions were fund companies, securities firms and insurers, as well as banks, said the regulator. The move brought China’s total QDII quota to 147.32 billion U.S. dollars. Under the QDII program, the country’s cross-border capital flows have been maintained in an orderly manner, satisfying the rising demand for outbound investment at home, said a SAFE official. T...
Post a Comment
Read more

Interview: Egyptian-Chinese cooperation against COVID-19 reflects strength of ties, says Egyptian minister

Abstract : Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries' relations, said Egyptian Minister of State for Information Osama Heikal. SHARM EL SHEIKH, Egypt , Sept. 27 (Xinhua) — Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries’ relations, said Egyptian Minister of State for Information Osama Heikal. “In such circumstances, countries need to cooperate with each other in a way that demonstrates solidarity and reflects strength in relationships … Egyptian-Chinese cooperation is a good example,” the minister told Xinhua in a recent interview. Egypt-China relations are strong and deeply-rooted, and will gain a greater momentum in the coming years, he said. The minister praised China’s handling of the pandemic, saying that every country has dealt with the crisis according to its own circumstances. “I believe that the E...
Post a Comment
Read more