Four quick snapshots of progress in curbing emissions.
Big news on industrial emissions in China. Companies in seven key sectors with annual revenues over $2.9 million have been ordered to reduce energy consumption by 13.5 percent by 2025 compared to 2020 levels, reports the South China Morning Post. This kind of thing wasn't supposed to happen for at least another decade - until very recently industrial emissions were considered 'the hard stuff'.
It gets better. China’s new emissions trading system is already the world’s largest carbon market, three times bigger than Europe's. It's about to grow another 70 percent under plans to add heavy industry, making it the single largest global climate policy, covering more emissions than the rest of the world's carbon markets put together, says Forbes.
Wouldn't it be great if India did something like that as well?! Oh, would you look at that. It appears an announcement is imminent on a carbon trading scheme for major emitters in the country's energy, steel and cement industries. That would mean carbon markets in three out of four of the world's four largest carbon culprits, notes Bloomberg.
In case you missed it, green hydrogen now costs less than fossil fuel in eight European countries. You have to hand it to Putin, says the Wall Street Journal, his determination to speed up humanity's decarbonization efforts knows no bounds.
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