China is the largest national source for global carbon emissions. China has committed to peak carbon emissions by 2030 and achieve net-zero carbon emissions by 2060. The ‘dual carbon’ targets have been a high priority for China’s central and regional policy makers.
To achieve carbon neutrality, major emitting sectors in China need to reduce their emissions between 65% and 100% by 2050. This climate commitment would require massive technological and structural changes in infrastructures, industries and urban systems to deploy decarbonization technologies and solutions in unprecedented ways.
It is estimated that China would demand nearly RMB 140 trillion (USD 22.1 trillion) in green investment over the next 40 years. As the world’s top carbon emitter, China has the biggest market to deploy a broad range of decarbonization technologies and net-zero solutions.
In order to help U.S. cleantech companies seize business opportunities in the Chinese market, UCCTC plans to organize a climate trade mission to China in 2023. The trade mission will include trade shows, site-visits, matchmaking events and business roundtables in Hong Kong, Guangdong as well as other cities and regions in China including but not limited to Jiangsu, Shanghai, Shandong, and Tianjin. Detailed information on the trade mission will be released in December 2022.