| WASHINGTON, June 23
WASHINGTON, June 23 It will cost China over $6.6
trillion (41 trillion yuan) to meet the greenhouse gas reduction
goals it will lay out later this month in its strategy for
United Nations climate negotiations, the country's lead
negotiator for the talks said Tuesday.
Xie Zhenhua, special representative for climate change
affairs at China's National Development and Reform Commission,
said the objectives China will outline by the end of June will
be "quite ambitious".
Xie was participating in a three-day Strategic and Economic
Dialogue forum in Washington where he met with counterparts in
the Obama administration, including U.S. climate negotiator Todd
Stern, Environmental Protection Agency Administrator Gina
McCarthy and Energy Secretary Ernest Moniz.
To meet its objectives, China, the world's biggest
greenhouse gas emitter, must reconfigure its coal-dependent
energy mix and develop new energy sources, Xie said.
"We will need to carry out international cooperation and
research and development to reduce the costs of relevant
technologies and to innovate so that we can reach our
objectives," he told reporters at a State Department briefing.
The United States and China announced on Monday they will
partner on two new carbon-capture, utilization and storage
projects to help commercialize the technology.
While key details of China's plan are not yet known, it is
expected to include targets announced in November, when it
reached a key climate change deal with Washington to cap its
emissions by 2030 and fill 20 percent of its energy needs from
Earlier this month, Chinese Premier Li Keqiang reaffirmed
the government's commitment to hit a carbon emissions peak by
"around 2030". The country's coal consumption decreased for the
first time in years in 2014, however, leading some to speculate
that its emissions could reach their peak sooner.
Stern, the U.S. climate change envoy, told reporters the
plans China has already announced with Washington were "a quite
But he said he hopes a final agreement of all countries at
this December's key UN climate change conference in Paris
contains "a strong set of...contributions, which are updated
periodically" to ensure more ambitious targets.
Stern said China does not expect public finance to support
its climate goals and that it is likely to attract investment as
it adopts new technologies.
Earlier on Tuesday, Chinese Vice Premier Wang Yang told a
panel moderated by former U.S. Treasury Secretary Hank Paulson
that 750,000 electric vehicles were sold in China last year,
three times more than the year before, "giving great
opportunities and profit to companies like Tesla and
BYD (Auto) ".
"To tackle climate change is both a challenge and an
opportunity," Wang said.
Ahead of the UN's climate change conference in Paris,
countries are required to submit national plans, which will
serve as the building blocks of a final agreement.
So far, 11 countries, including the United States and
Mexico, as well as the European Union have submitted theirs.
(Reporting by Valerie Volcovici; Editing by Peter Galloway)