How-to China: China's green policies are taking effect

Question:

China is the largest nation in the world in both in terms of its scale in green energy and population, but it's also the world's largest developing country. And despite that status, goals were set to peak carbon emission by 2030 and to be zero-carbon by 2060. It's quite ambitious for a country of China's size.

What in your mind are some challenges that China will face meeting these goals? And do you have any suggestions to meet these challenges?

Solheim: I believe the biggest challenge for China is exactly what is the biggest challenge for Europe or the United States, and that is to embark upon a fair transition.

Obviously China as a society at large will benefit tremendously from the green transition. Lives will be much better and there will be millions of new jobs.

But if you are a coal miner in Shanxi, or if you are related to some other old-style industries in Liaoning province, you may not necessarily be very happy to see Guangdong or Fujian, moving very fast into solar and wind technology.

So to make the transition fair, here I think China can also learn something from the European Union.

That's to put a fair transition front and center, to establish some big funds to those areas who may not immediately benefit from the transition and also to train people into the new economy.