Essay by Eric Worrall
Don’t forget the money…
The world needs climate change leadership – it’s time for China to step up
Published: April 29, 2025 10.26pm AEST
Yixian Sun
Associate Professor in International Development, University of BathThe second Trump administration has announced various anti-climate policies under its “America first” strategy. Leaving the Paris agreement, kicking off a trade war, shutting down USAid and drilling for more oil and gas will not only undermine the US’s international reputation but will undermine the global effort to combat climate change.
With the US in retreat from climate action and Europe preoccupied by security challenges, new leadership is urgently needed. China may be poised to fill this gap.
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But more than 60% of the electricity generated in the country still comes from coal, and it remains unclear how fast the government plans to phase out fossil fuels. Meanwhile, some provincial governments are still issuing permits to add new coal-fired power plants.
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China was one of the many countries that missed a February deadline for submitting its targets (only 15 countries were on time). Until now, Beijing’s strategy has been to “wait and see” given the turbulence caused by the new Trump administration.
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China should also play a major role in reforming the global financial system to make it aligned with the Paris agreement. As a strong supporter of green finance, it can influence upcoming international talks such as the Financing for Development conference in Seville, as well as the UN’s negotiations on international tax cooperation. As co-chair of the G20’s sustainable finance working group, China also has the opportunity to push for more funding to support net zero.
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Read more: https://theconversation.com/the-world-needs-climate-change-leadership-its-time-for-china-to-step-up-252698
The activists might have quite a wait for China to provide more money. China is sitting on a stagflation and banking / government liquidity crisis which makes the 2007-8 GFC look like a mild hiccup. Toxic debt is weighing down all sectors of the Chinese economy, but every time Beijing tries to pump in a little stimulus, inflation surges and threatens to destroy what is left of their economy. On top of this, Trump’s new tariffs are likely going to crush China’s export sector, one of the few remaining healthy sectors of the Chinese economy.
I’m not sure how handing loads of money to foreign activist scientists and poor country tyrants who play the climate pauper game figures in China’s list of priorities, but I’m guessing its not at the top of their list.
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