Connect with us

world news

China’s coal plans could derail Cop26 climate ambitions, says Labour – The Guardian

China’s coal plans could derail Cop26 climate ambitions, says Labour

Ed Miliband joins climate experts in expressing deep concern over Beijing’s plans to step up coal output

Ed Miliband, the shadow business secretary

Last modified on Wed 13 Oct 2021 12.48 EDT

China’s “deeply concerning” plan to burn more coal threatens to derail the UK’s efforts to coordinate tougher global commitments to reduce carbon emissions at next month’s Cop26 summit in Glasgow, according to climate experts and Labour.

Beijing has ordered its major coal-producing regions to step up output, after large parts of the country were hit by rolling blackouts affecting factories and homes.

While China has committed to hitting peak CO2 emissions by 2030, comments by the premier, Li Keqiang, indicated that the pledge could take a back seat due to the immediate need to increase power supply.

In a speech targeted at Cop26, the shadow business secretary, Ed Miliband, called for the UK to push China to make a landmark commitment to speed up its climate ambitions. “The news from China today around its domestic coal use is deeply concerning,” he said.

The former Labour leader said China’s recent promise to stop financing investment in coal overseas was welcome but added: “We need to see this matched by action at home.

“And we also need an ambitious target from China in this decade, peaking emissions by 2025 and declining. Being part of the club of nations means acting on climate.”

Miliband hit out at Boris Johnson, saying the UK had not done enough to foster ambitious global agreements at Cop26 and urging the prime minister to “get off the sun lounger and start being a statesman”.

The UK is hosting Cop26, which begins on 31 October, with the former business secretary Alok Sharma acting as the summit’s president. Sharma has been meeting global leaders in an attempt to coax them into making ambitious pledges but is likely to face a tough task to persuade China to speed up its plans.

Li did not formally row back on a promise from China’s president, Xi Jinping, that the country would hit peak emissions by 2030 as part of its target to reach net zero by 2060. But he said China would commission “in-depth studies and calculations in light of the recent handling of electricity and coal supply”, hinting at the possibility that Beijing could adjust its emissions reduction plans in light of the current crisis.

Li said energy security was the priority. Analysts said that makes it highly unlikely Beijing will commit to an earlier target for peak emissions.

Lauri Myllyvirta, lead analyst at the Centre for Research on Energy and Clean Air, said that while China was not abandoning its 2030 pledge, securing a landmark commitment from it to slash coal output at Cop26 would be difficult given recent events.

“The fact that not just China but much of the world is facing a fossil fuel crisis should focus minds on reducing reliance and moving away form fossil fuels,” he said. “But it’s also not the best time to get governments to do long-term planning. Simply the fact that the situation is pretty acute and messy will not make the negotiations easier.

“I’ve been very sceptical of any grand bargain coming out of Cop26 beyond what’s already been pledged. Their energy plans are not in a place where that kind of pledge can be made.”

John Sauven, the executive director of Greenpeace UK, said: “China is not alone in facing a challenging problem but there are a few straightforward facts which have not changed. “We need to leave fossil fuels behind, starting with coal. We need everyone onboard, and time is not on our side.

“Whenever any country decides to prop up and extend a high-carbon industry for a few more years, the cost of that decision will be borne by today’s young people across the world. And they’re already facing enormous consequences for our lack of action so far.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

BBS-BitsBytes & STEM is one of the World’s Leading Names in Online Self-Paced IT or ICT and Academic Video Tutorials ( Watch Video)

www.1itonlinetraining.com

Below is the link to a Video by one of our renowned O and A Level Chemistry Teacher Kudzai H Muzorewa

https://youtu.be/V4NezasWPHA

We are offering some of the hottest, in-demand, self-paced  ICT courses in Software Development and Systems  Network Administration.

We have do have the best crop of highly skilled and experienced Lecturers teachers who meticulously create our self-paced tutorial videos.

*Here are some of the endless Advantages of your child or grand child, learning online with BBS-BitBytes & STEM *

1) Flexibility is one of the key factors, since videos, will be available for students 24 hours which you can’t get from face-to-face interaction.

2) Our Self-paced online video tutorials enable the students repeat watching the videos of their choice, in any order, as much as they want, until they fully understand.

3) Once students have enrolled, they will be able to learn for a full year, 365 days before their enrolment expires, for sure, it can’t get better than that.

4) Better time management as there are no set classrooms hence students have the flexibility to create their own customized schedules.

5) A broader, Global perspective because of the ability to log in from any location, using any portable mobile devices.

6) Convenience-learning with BBS-BITS BYTES makes education more convenient for students living in both urban and rural areas, those with disabilities and also due to the Pandemic students will be able to continue with their studies without any disturbance.

7) Our students enjoy the privilege of learning from the highly educated, skilled, and experienced tutors, who have stood the test of time.

Contact Us on WhatsApp:

1 416 702-5561

1 919 897-0941

Email: [email protected]

Continue Reading

world news

Today's News Headlines: Hospitals Bracing For Covid Spike Ahead Of Reopening Deadline; And Facebook Set – Todayuknews

Here are all of today’s top news stories from Independent.ie.

Hospitals fear surge in patients if restrictions are eased

Hospitals are bracing for a spike in people being hospitalised with Covid-19 as Nphet meets today to discuss the easing of restrictions.

The Indo Daily – The Rocky Road to ‘Freedom’ – will Covid restrictions be lifted?

Facebook set to create 10,000 jobs as it starts to build a ‘metaverse’

Facebook is to create 10,000 jobs across Ireland and Europe. The move will add to the 6,000 people the company already employs in Dublin, Meath and Cork.

Principals warn that whole classes could be sent home over substitutes shortage

Primary schools will be forced to send classes home if difficulties finding substitute cover are not resolved quickly, a principals’ leader has warned.

Video: Man goes viral for paying off ex-girlfriend’s mortgage for her birthday

<div class="c-join2 -my:2 -recontain

Daily Digest Newsletter

Get today’s news headlines, opinion, sport and more direct to your inbox at 7.30am every morning, and every evening, with our free daily newsletter.



This field is required

Inside the quarantine lab where Irish company infects humans with Covid

A look inside the 19-bed quarantine facility where volunteers take part in human challenge studies – specialist clinical trials where people are infected with a virus or bacteria to see how they respond to experimental vaccines or treatments.

<![CDATA[ #bb-iawr-inarticle- { clear: both; margin: 0 0 15px; } ]]>

Majestic Rory McIlroy secures 20th PGA Tour victory in Las Vegas

Ireland’s Rory McIlroy has won the CJ Cup in Las Vegas, shooting a last round of six-under 66 to win by a stroke from American Collin Morikawa.

Toys, Christmas trees and electronics added to ‘hard to get’ list as global supplies buckle

The advice from retailers is “order early but prepare to wait” as bottlenecks in the British port of Felixstowe – and around the world – put pressure on deliveries here.

Bank of Ireland offering a rock-bottom interest rate of 2pc for green mortgages

Green mortgages are now being offered by a number of lenders and the rates are lower than conventional home-loan rates.

Study finds ethnic pay gap in Irish higher education

A higher proportion of staff from ethnic minority backgrounds are on less than €60,000 a year when compared with white Irish or white ‘Other’ colleagues.

Phelan firm sued over $23m trade deal dispute

An energy company headed by former PayPal boss Louise Phelan is being sued in London’s High Court by Australia’s Macquarie bank in a $23m (€20m) dispute over foreign exchange deals.

Continue Reading

world news

China's GDP Growth Slows as Property and Energy Take a Toll – The New York Times

Growth of 4.9 percent shows the country’s huge industrial sector has run into trouble. But exports and services are looking strong.

BEIJING — Steel mills have faced power cuts. Computer chip shortages have slowed car production. Troubled property companies have purchased less construction material. Floods have disrupted business in north-central China.

It has all taken a toll on China’s economy, an essential engine for global growth.

The National Bureau of Statistics announced on Monday that China’s economy increased by 4.9 percent in the third quarter, compared to the same period last year; the period was markedly slower than the 7.9 percent increase the country notched in the previous quarter. Industrial output, the mainstay of China’s growth, faltered badly, especially in September, posting its worst performance since the early days of the pandemic.

Two bright spots prevented the economy from stalling. Exports remained strong. And families, particularly prosperous ones, resumed spending money on restaurant meals and other services in September, as China succeeded once again in quelling small outbreaks of the coronavirus. Retail sales were up 4.4 percent in September from a year ago.

Chinese officials are showing signs of concern, although they have refrained so far from unleashing a big economic stimulus.

“The current international environment uncertainties are mounting, and the domestic economic recovery is still unstable and uneven,” said Fu Linghui, the spokesman for the National Bureau of Statistics.

The government’s own efforts, though, are part of the current economic challenges.

In recent months, the government has unleashed a raft of measures to address income inequality and tame businesses, in part with the goal of protecting the health of the economy. But those efforts, including penalizing tech companies and discouraging real estate speculation, have also weighed on growth in the current quarter.

The government had also imposed limits on energy use as a part of a broader response to climate change concerns. Now, the power shortages are hurting industry, and the country is rushing to burn more coal.

“The economy is sluggish,” said Yang Qingjun, the owner of a corner grocery store in an aging industrial neighborhood of shoe factories in Dongguan, near Hong Kong. Power cuts have prompted nearby factories to reduce operations and eliminate overtime pay. Local workers are living more frugally.

“Money is hard to earn,” Mr. Yang said.

Urbanization was once a great engine of growth for China. The country built spacious apartments in modern high-rises for hundreds of millions of people, with China producing as much steel and cement as the rest of the world output combined, if not more.

Now, real estate — in particular, the debt that developers and home buyers amassed — is a major threat to growth. The country’s biggest developer, China Evergrande Group, faces a serious cash shortage that is already rippling through the economy.

Construction has ground to a halt at some of the company’s 800 projects as suppliers wait to be paid. Several smaller developers have had to scramble to meet bond payments.

This could create a vicious cycle for the housing market. The worry is that developers may dump large numbers of unsold apartments on the market, keeping home buyers away as they watch to see how far prices may fall.

“Some developers have encountered certain difficulties, which may further affect the mood and confidence of buyers, causing everyone to postpone buying a house,” said Ning Zhang, a senior economist at UBS.

The fate of Evergrande has broader import for the long-term health of the economy.

Officials want to send a message that bond buyers and other investors should be more wary about lending money to debt-laden companies like Evergrande and that they should not assume that the government will always be there to bail them out. But the authorities also need to make sure that suppliers, builders, home buyers and other groups are not badly burned financially.

These groups “will get made more whole than the bondholders, that’s for sure,” predicted David Yu, a finance professor at the Shanghai campus of New York University.

As electricity shortages have spread across eastern China in recent weeks, regulators have cut power to energy-intensive operations like chemical factories and steel mills to avoid leaving households in the dark. It has been a double whammy for industrial production, which has also been whacked by weakness in construction.

Industrial production in September was up only 3.1 percent from a year earlier, the lowest since March of last year, when the city of Wuhan was still under lockdown because of the pandemic.

“The power cuts are more concerning to some extent than the Evergrande crisis,” said Sara Hsu, a visiting fellow at Fudan University in Shanghai.

Gilles Sabrié for The New York Times

The Energy Bureau in Zhejiang Province, a heavily industrialized region of coastal China, reduced power this autumn for eight energy-intensive industries that process raw materials into industrial materials like steel, cement and chemicals. Together, they consume nearly half the province’s electricity but account for only an eighth of its economic output.

Turning down the power to these industries risks creating shortages in industrial materials, which could ripple through supply chains.

Assembly plants in industries that use less electricity, like car manufacturing, have not faced the same demands for power cuts. But they face other challenges.

Ongoing coronavirus outbreaks in Southeast Asia have interrupted supplies of some auto parts. There is also a global shortfall of semiconductors, a critical component in cars.

Volkswagen, the market leader in China, said on Friday that its production had been falling as the company faced an ever-worsening chip shortage and other supply chain issues. The company doesn’t have enough cars to fill customers’ and dealerships’ orders, creating a backlog.

“Our priority is to work off our backlog,” said Stephan Wöllenstein, the chief executive of Volkswagen’s China division.

For months, economists have made the same prediction: the fast growth of China’s exports cannot last.

The economists were wrong.

China’s exports kept surging through the third quarter and finished strong, up 28.1 percent in September compared with the same month last year. China posted its third-highest monthly trade surplus ever last month.

China has essentially maintained its strength in exports ever since its economy emerged from the pandemic in the spring of last year. As much of the world hunkered down at home, families splurged on consumer electronics, furniture, clothing and other goods that China manufactures in abundance.

The export boom, though, is creating another source of tension between the United States and China.

Katherine Tai, the United States trade representative, suggested in a speech two weeks ago that China’s export prowess was partly the result of subsidies and other unfair practices. “For too long, China’s lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world,” she said.

But Chinese officials and experts contend that the country’s success is the result of a strong work ethic and consistent, large investments in manufacturing. They are quick to point out that by bringing the pandemic firmly under control within several weeks early last year, China was able to reopen its factories and offices quickly.

“We have very strong supply, but weak demand,” said Tu Xinquan, the executive dean of the China Institute for World Trade Organization Studies at the University of International Business and Technology in Beijing. “So companies have to export.”

Li You contributed research.

Continue Reading

Trending