China's emissions, efficiency targets under threat after falling short in 2023

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🗞️ Driving the news: China is reportedly lagging behind on its climate change targets, including significant goals to reduce energy and carbon intensity by 2025
• This shortfall raises concerns about Beijing's global climate commitment credibility and its political will to address these issues amidst energy security concerns

🔭 The context: Despite previous successes in meeting environmental targets, China has recently fallen short, particularly in reducing energy consumption and CO2 emissions relative to economic growth 
• The National Development and Reform Commission (NDRC) has pledged to intensify efforts, but planned targets for 2024 remain insufficient, especially with no new initiatives to decrease coal usage

🌍 Why it matters for the planet: As the world's largest carbon emitter, China's actions significantly impact global climate efforts
• Failure to meet its targets not only undermines international climate agreements but also jeopardizes diplomatic credibility, given the country's historical emphasis on fulfilling commitments

⏭️ What's next: Analysts suggest that China must implement more robust measures across all sectors to bridge the emissions gap
• This includes enhancing efficiency in industry and construction, expanding financial support for green transitions, and potentially broadening the carbon market to achieve its 2025 targets

💬 One quote: "Meeting the five-year intensity targets by 2025 will be very challenging," said Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute.

📈 One stat: China's emissions account for 35% of the world’s annual total, with per capita emissions 15% higher than the OECD average.

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