China

China's Shift Away From Carbon-Intensive Production Could Make a Big Difference

(3BL Media/Justmeans) - There are many forces at play on both sides of the challenge to rein in carbon emissions before it’s too late. Some of the most important, like the plummeting price of oil, or China’s need to protect citizens by reducing air pollution, are not even directed at the problem. Still, they both have enormous impact.

Another such trend is the recent decision by Chinese leaders to initiate a supply side reform in their economy. What this means is that at the beginning of the 13th Five Year Plan, the Chinese want to shift away from a production-based economy to one that is more consumer and service-based.

The primary reason for this is the economic slowdown that China is experiencing which has led to substantial overcapacity in their manufacturing sector.  The Chinese economic growth rate dropped to 6.9% in 2015, the lowest since the downturn of 2008. But at the same time, in the post COP21 world, the desire to cut emissions plays a key role. A full 25% of China’s emissions comes from the production of goods for the export market. Furthermore, Premier Li Keqiang, is looking to heavy industries like steel and coal to take the lead. Specifically, he said, they should, cut “overcapacity, digest unreasonable inventories, reduce costs and improve efficiency.”

China’s Cheap Steel Has High Cost to the Environment

(3BL Media/Justmeans) – Xi Jinping, China’s President visited Britain in the same week that Tata Steel announced job cuts at its U.K. steel plants. Global steel price is at its lowest level in more than a decade, so it is no surprise that the U.K.’s production is becoming economically unviable. China’s economic slowdown has caused a fall in their demand for steel of four percent last year.

Bank of England Governor’s Speech Is a Significant Milestone In the Climate Change Debate

(3BL Media/Justmeans) – The Bank of England governor, Mark Carney, has given a stark warning that climate change poses a huge risk to global stability.

Shanghai Stock Exchange Launches SSE 180 Carbon Efficient Index With China Securities Index

(3BL Media/Justmeans) – China’s months-long stock market crisis has affected markets around the world. In recent weeks, five trillion dollars in value has been wiped away as investors sold shares over fears about the country’s slowing economy. It has been a turbulent time. However, there has been a glimmer of hope as China launched its first carbon efficient financial index, in a bid to direct capital towards its growing low-carbon industry.

MetLife Foundation Partners With Opportunity International to Transform Financial Services In Rural China

3BL Media/Justmeans) – Amidst the news about China's stock market which has been of a roller-coaster ride this year, the MetLife Foundation has announced a three-year, $1.8 million partnership with Opportunity International to promote knowledge and access to financial services in rural China.

G7 Leaders Up the Ante on Climate Action

(3BL Media/Justmeans) When the leaders of the world’s largest economies, United States, Germany, Canada, Japan, Great Britain, France, and Italy, otherwise known as the G7, met last week to discuss the global economy, climate and energy were high on the agenda, given the heightened level of concern and the major climate talks coming up later this year in Paris.

The group took a bold step, pledging to completely phase out greenhouse gas emissions by the century’s end, and to cut somewhere between 40 and 70% by 2050. Can they back it up? Not by themselves. These seven countries currently represent about a third of the world’s GHG emissions. That means they can have a significant impact, but they can’t do it without help, especially from rapidly growing economies like China (now the #1 emitter), India (#4) and Russia (#5). That will not be easy, considering that even among those in the G7, consensus did not come easily. Both Canada and Japan pushed back before finally agreeing to sign on to the statement that said, “We commit to doing our part to achieve a low-carbon global economy in the long-term including developing and deploying innovative technologies striving for a transformation of the energy sectors by 2050 and invite all countries to join us in this endeavor. To this end we also commit to develop long term national low-carbon strategies.”

However, if the goal is to limit global warming to 2 degrees or less, the goal of eliminating emissions by the end of the century is not enough. Even the 40 to 70% cuts mentioned by 2050 will fall short, even at the higher end, according to some sources. The carbon calculus shows that we have used up about two-thirds of the total emissions limit of around 3,200 gigatonnes that must be maintained if we hope to keep the climate from spinning out of control. At the current rate of emissions, we will run through that in the next 27 years. That’s a frightening thought when you consider that, at this point, the rate is still going up (albeit more slowly than it was a few years ago). That trend has to be dramatically reversed if the goal is to be met. Keep in mind that most greenhouse gases remain in the atmosphere for a hundred years or more, so even when we stop emitting, it will take a while for the concentration to begin falling. It also means that when we stop, we need to stop for good, or at least the next hundred years. Given the way that these emissions accumulate in the system, the sooner we act, the better.

Fossil Unbound: Collaborating With Social Problem Solvers To Change Young Lives Worldwide

(3BL Media/Justmeans) – Fossil Unbound is an organisation that is creating tumbleweeds of change by supporting projects that are nurturing and inspiring children. It strongly believes the best social entrepreneurs aren’t just changing the world, they’re changing the way we change the world. It has an affinity for collaborating with social problem solvers who are devoted to supporting young people and also likes taking on big ideas.

China’s New Bank To Fight Poverty With The World Bank

(3BL Media/Justmeans) – So far, more than 50 countries have either joined or applied to be members of the China-led Asian Infrastructure Investment Bank (AIIB). The bank's progress demonstrates China’s approach to shaping the Asia-Pacific region. The forming of the AIIB is a leading-edge geopolitical, economic story.

Recent China-Africa Health Roundtable: A Pivotal South-South Meeting

(3BL Media/Justmeans) – China is a superpower and the preferred partner of many governments in Africa, and is why last month’s 5th International Roundtable on China-Africa Health Collaboration in Beijing was a pivotal South-South meeting, exploring how Chinese and African resources and experiences can be leveraged to mutually supp

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