China’s decision to ramp up spending could accelerate a shift and help achieve long-term climate goals by bringing forward the peak in fossil-fuel use and lowering greenhouse gas emissions.
Governments say targeted funding in green manufacturing and energy will boost the economy, create good jobs and enable low-carbon growth. But there are always difficult trade-offs and glossing over them could mean losing popular support.
Engaging the world’s largest polluter on climate solutions has not been smooth sailing. Supply chains are highly inter-connected and businesses find that they need to tread along a tightrope between China and the West, even on climate.