China out front in global race to eliminate CO2 emissions

China out front in global race to eliminate CO2 emissions

Asian giant, US, Europe and Japan need $82tn to make economies carbon neutral

TOKYO/GUANGZHOU — The global race to decarbonize is underway. And China has already taken the lead.

The trend to eliminate carbon dioxide emissions will be the “fourth revolution” after ones in agriculture, industry and information, which all have turned the wheels of human history.

Prime Minister Yoshihide Suga has pledged that Japan will reduce its greenhouse gas emissions to net zero by 2050 and the country is now standing at the starting line of the multinational competition.

But it is China that stands in the most advantageous position. A total of 40% of the world’s new solar power generation capacity is constructed there. And the country’s share of global electricity generated by the sun has jumped from 2% in 2010 to 32% in 2018.