Coal became a global consensus
Adaptation to climate change
Challenges and opportunities of international carbon market
Coal withdrawal is emerging as a global consensus
At present, more than 130 countries and regions in the world have put forward net zero emissions or carbon neutral commitments, among which major economies have proposed to achieve net zero emissions in the 1950s and 1960s against the 1.5 ° C target. The 1.5 ° C goal requires a global phase-out of coal power, so developed economies such as the European Union and small island countries strongly advocate "phasing out coal power without emission reduction facilities." Although at the insistence of developing countries such as China and India, the Agreement eventually amended "phasing out coal power without emission reduction facilities" to "phasing out coal power without emission reduction facilities", 190 countries and organizations outside the meeting reached a consensus on the realization of coal return. In this context, it is not excluded that the international community will push for a binding coal withdrawal agreement in the future.
Adapting to climate change is on the agenda
At present, extreme weather events caused by the Earth's temperature rise of 1.2 ° C have caused about a quarter of the world's power distribution network to be at risk of hurricane damage, 13% of coastal thermal power plants are at serious risk of coastal flooding, and one-third of thermal and nuclear power plants are in areas with high water shortages. According to the emission reduction commitments of various countries, the global temperature rise may exceed 2.7 ° C by the end of this century, and the climate risks faced by energy infrastructure will be further aggravated. In the face of the inevitable trend of climate change, it is particularly important to strengthen the climate resilience construction of infrastructure to avoid the loss of life and property caused by climate risks. China is preparing the National Climate Change Adaptation Strategy 2035 to enhance the capacity of urban and rural construction, agricultural production and infrastructure to adapt to climate change.
International carbon market connectivity challenges and opportunities coexist
On the one hand, international carbon markets connecting different countries and regions will lead to global carbon price convergence and low-cost emissions reduction. The International Energy Agency (IEA) predicts that in order to achieve net zero emissions in 2050, the carbon price of developed economies and emerging economies in 2030 will reach US $130 / ton CO2 and US $90 / ton CO2, respectively, far higher than the carbon price level of US $15 / ton CO2 during the "15th Five-Year Plan" period proposed by the Technical expert Group on the overall design of China's carbon emissions trading system. In the future, the interconnection of different carbon markets may significantly increase the cost of compliance for domestic enterprises. On the other hand, considering that China has 70% of the world's photovoltaic production capacity and 50% of the wind power production capacity, domestic energy companies are expected to develop new energy emission reduction projects in the world to obtain a large number of carbon credits (emissions reductions that can enter the international carbon market), while China can also introduce deep emission reduction technologies by opening up the domestic emission reduction market.
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