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China accounted for nearly one-third (31.5%) of global carbon emissions in 2023. China alone also accounted for 67% of the rise in the world’s carbon emissions between 2000 and 2023.
This month, the Albanese government announced that Australia, which only accounts for around 1% of global emissions, will reduce emissions by more than 62% and up to 70% below 2005 levels by 2035.
Last week, China president Xi Jinping announced to the United Nations a puny 7% to 10% emissions reduction target from its peak by 2035.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.