It also reiterated its commitment to carbon capture, utilisation and storage (CCUS) technology to prevent greenhouse gases from entering the atmosphere, including projects surrounding the use of aquifers and oil-bearing formations to contain sequestered CO2.

 

The news of the plan comes just days before global leaders are set to meet in Egypt for COP27. China has said it will be sending a delegation to the summit, where Chinese representatives expected to focus on persuading industrialised countries to provide a long-awaited $100bn annual fund to help poorer nations adapt to rising temperatures.

 

China is currently the world’s biggest emitter of greenhouse gases, generating over 10 gigatons of CO2 per year - nearly twice that of the US. Over the last decade, China has cut CO2 emissions per unit of economic growth by a third and paved the way in EV-market readiness. However, despite these advances, the country’s overall emission volumes continue to rise.

 

In 2020, Chinese President Xi Jinping announced his plans to help China reach net-zero carbon by 2060 and estimated that its CO2 emissions will peak by 2030. This was the first such major commitment China made in regard to the country’s contribution to climate change.

 

Despite the positive reactions to the country’s pledge, international leaders have raised concerns in recent months regarding the country’s influence in the technology sector.

 

In October, the Biden administration published a sweeping set of export controls targeted against China, while the UK’s Government Communications Headquarters (GCHQ) warned against the country’s strategy of using technology to increase its global influence.