China has been a consistent participant in the global climate process over the past 30 years, evolving from a follower to a leader. At the recent COP30 climate conference, China demonstrated its commitment through its national actions and international cooperation, showcasing its solutions for global climate governance.
? China's Role and Actions at COP30
The 30th session of the Conference of the Parties (COP30) highlighted the critical role of climate finance, and China actively engaged in the discussions and side events.
Firm Support for Multilateralism: The Chinese delegation, led by special climate envoy Liu Zhenmin, emphasized upholding the multilateral cooperation framework of the Paris Agreement. Despite challenges such as the absence of the United States, which created a significant funding gap, China worked with other developing countries within the "G77 and China" bloc to advance negotiations.
Showcasing Ecological Civilization: The "China Corner" at COP30 hosted a series of side events. The first event focused on "Ecological Civilization and the Practice of Beautiful China." Minister of Ecology and Environment Huang Runqiu stated in his opening speech that "no matter how the international situation changes, China's actions to actively address climate change will not slow down." This underscores China's determination. International officials, such as Simon Stiell, Executive Secretary of the UNFCCC, also acknowledged China's leadership in renewable energy and the spirit of its "dual carbon" goals.
Focus on Action Transition: China supports the conference's theme of "From Commitment to Action." The focus is on implementing past consensus, such as the UAE Consensus from COP28, and accelerating the global energy transition. China encourages all countries to submit their 2035 National Independent Contribution (NDC) reports to turn commitments into tangible national policies.
? The Driving Force of Green Finance
A mature green financial system is a crucial tool for China to achieve its green and low-carbon transition. China's green finance system has developed rapidly, providing strong support for its climate goals.
A Global Leader in Scale: China's green finance has grown to a significant size, with its green loan balance exceeding 40 trillion yuan, ranking it among the top globally.
Continuous Policy Improvements: In 2025, Chinese authorities introduced the "Guidance on Doing a Good Job in the Five Financial Articles" and the "Banking and Insurance Industry Green Finance High-Quality Development Implementation Plan," which set clear development goals for the next five years and aim to establish a robust green financial standard system.
Diverse and Innovative Products:
Green Bonds: By the end of 2024, China's cumulative issuance of green bonds had exceeded 4 trillion yuan.
Carbon Market: China's national carbon market already covers 2,257 key power generation companies, making it the world's largest carbon market by covered greenhouse gas emissions. It will soon expand to include sectors like steel and cement.
Innovative Practices: Local governments are also actively exploring new models. For example, Qinghai Province has launched a carbon account system, linking corporate carbon emissions data with financing channels; Hunan Province is promoting an environmentally oriented development (EOD) model and establishing a green financial comprehensive service platform.
? From Global Participation to International Leadership
China's green journey has evolved from active participation to offering Chinese wisdom and solutions.
Historical Context: In 2016, the G20 Hangzhou Summit, hosted by China, incorporated green finance into the global governance agenda for the first time, becoming a milestone in global climate cooperation.
Deepening International Cooperation: China and the European Union have collaborated on a "Common Ground Taxonomy" for green finance, providing a basis for cross-border green capital flows. Chinese financial institutions, such as the Asian Infrastructure Investment Bank (AIIB), are also actively engaged in global climate investments, with its climate finance allocation expected to reach 65%-70% in 2024.
Bridging the Global South: China is committed to supporting other developing countries through South-South cooperation. It has pledged nearly $45 billion to help them achieve green transformation. At COP30, China also advocated for creating a favorable global environment for green trade and investment, opposing trade protectionism to promote global green growth.
✨ Chinese Wisdom in Global Climate Governance
China's climate actions are not limited to domestic efforts but extend to promoting fair and practical global climate governance.
Upholding the Principle of Fairness: On the issue of a just transition, China emphasizes that developed countries, with their historical emissions, should lead by example. Special Envoy Liu Zhenmin pointed out that developed countries should achieve carbon neutrality before 2050 to leave development space for developing countries and ensure true global fairness.
Respecting National Conditions: China opposes imposing uniform "adaptation indicators" that do not consider different countries' realities. It believes that adaptation actions should start with the most pressing issues, such as supporting the construction of a Global Early Warning System.
Providing Public Goods: China is contributing to global climate adaptation with concrete actions. For instance, it plans to launch three meteorological satellites between 2025 and 2027 to cover most areas of Asia, the Indian Ocean, and Africa, providing a global public good for climate disaster prevention.
China's 30-year journey in climate action demonstrates a consistent commitment. From active integration into the international system to driving global green development, China has always been a responsible member of the global community. Its practices prove that addressing climate change and pursuing economic growth are not opposites. As Adriana Lobo, Executive Director of World Resources Institute, said, "Green growth is the future, and China understands this thoroughly.".
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