Global leaders shape low-carbon future at Guangdong summit

The 2024 Asia-Pacific Carbon Summit and the World Low Carbon Cities Forum, which took place in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Guangdong province, on Wednesday, attracted and gathered the wisdom of global low-carbon development and urban green transformation, building a green and sustainable development path for Chinese enterprises to go global, organizers said.

Officials, experts and entrepreneurs discussed and exchanged views on such as including carbon finance and global climate governance, building a low-carbon future, unlocking the value of carbon assets and capital power in the new energy era during the one-day event.

Joseph Mak, executive dean of the Asia-Pacific ESG Strategy Research Institute, said the Asia-Pacific region plays a crucial role in this green transformation as an important driving force of global economic growth.

"Many countries have set ambitious carbon neutrality goals and increased investment in new and renewable energy sectors. As of May 2024, more than 150 countries around the world have proposed carbon neutrality goals," said Mak.

As one of the world’s largest carbon emitters, China has made a clear commitment to achieve peak carbon emissions by 2030 and achieve carbon neutrality by 2060, said Mak.

China is promoting the development of new and renewable energy at an unprecedented speed, including the widespread use of clean energy such as wind, solar and hydropower to achieve the ambitious goal, he added.

"At the same time, China is also actively promoting the popularization of electric vehicles and the implementation of energy efficiency improvement policies to further reduce carbon emissions," said Mak.

In the first three quarters of 2024, China’s newly installed renewable energy power generation capacity reached 210 million kilowatts, up by 21 percent from last year, accounting for 86 percent of the newly installed electricity capacity, according to Mak.

The Asia-Pacific ESG Strategy Research Institute and the Low Carbon and Sustainable Development Research and Development Center with the Research Institute of Tsinghua University in Shenzhen jointly hosted the event.