China Slowdown Evident
China’s carbon emissions fell almost eight percent year on year in the second quarter, the sharpest decline in the past decade, according to climate researchers Carbon Brief.
The fall in emissions reflects a dramatic slowing in Chinese economic growth caused by Covid lockdowns, extreme weather and a crisis in the heavily indebted property sector. It was the fourth consecutive quarter in which emissions have fallen in China, the world’s biggest emitter.
Lauri Myllyvirta, an analyst at the Helsinki-based Centre for Research on Energy and Clean Air, which compiled the data for Carbon Brief, said there had been a drop of 44 per cent in the number of construction projects started and a 33 per cent fall in those completed during the second quarter.
“The reduction was driven by falls in steel and cement output due to the real estate slump, a fall in transport oil consumption caused by Covid control measures, slow electricity consumption growth and strong increases in renewable power generation,” she said.