China Vows Carbon Neutrality by 2060 in Major Climate Pledge

(Bloomberg) —

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China aims to be carbon neutral by 2060, tightening its target to cut greenhouse-gases, and signaled higher spending on green technologies in the next five years, major pledge in the fight against climate change by the planet’s worst polluter.

President Xi Jinping, speaking during a virtual United Nations General Assembly on Tuesday, also reiterated his goal for emissions to peak before 2030 and urged all nations to work toward a greener economic recovery from the Covid-19 pandemic. While he didn’t lay out details, Xi’s announcement implies China’s emissions will have to sharply decline to reach net-zero in less than 30 years after peaking in 2030.

“Humankind can no longer afford to ignore the repeated warnings of nature and go down the beaten path of extracting resources without investing in conservation, pursuing development at the expense of protection, and exploiting resources without restoration,” Xi said in a

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