Alicia García-Herrero
Environmental Sustainability · Carbon Market
Alicia García-Herrero
With less than four weeks before the start of the 26th U.N. Climate Change Conference of the Parties, or COP26, in Glasgow, China is increasingly the center of global climate policy attention. The country missed the July 31 deadline set by the United Nations to submit new emissions reduction pledges, known as nationally determined contributions (NDCs), ahead of the conference, sparking doubts about its contribution under the Paris Agreement.
Alicia García-Herrero
Environmental Sustainability
After further tightening its net emission target by 2030 from 40% to at least 55% compared to 1990 levels to achieve climate neutrality target by 2050, on July 14 the European Commission released its long-awaited Fit for 55 policy. It contains a dozen proposals directed at upgrading existing climate, energy and transport legislation aimed at reaching such targets. Among the different proposals, a new Carbon Border Adjustment Mechanism, or CBAM, is probably the most relevant beyond the EU's borders and, therefore, the most contentious. Expect Beijing to soon start lobbying against the proposal.
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Alicia García-Herrero
Environmental Sustainability · Carbon Market
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