The European Chamber has long been advocating for EU-China cooperation on decarbonisation and launched the CNA Initiative in May 2022 to facilitate coordinated efforts among the Chamber’s membership.
The report identifies areas where EU-China cooperation can be deepened so that China can front load the technologies it needs to accelerate its carbon neutrality drive based on a member survey and extensive interviews,
Driven by stringent environmental regulations and consumer demand, and guided by their global corporate carbon neutrality pledges, European businesses are well placed to help China peak carbon emissions before 2030, and push towards carbon neutrality in 2060. The report finds that 67 per cent of European companies operating in China are already pursuing carbon neutrality, and 40 per cent have established China focused decarbonisation teams, many of which report directly to the board.
However, three sets of barriers currently prevent European firms from fully contributing to China’s carbon neutrality drive.