China Pledges Net-Zero Carbon Emissions by 2060. That Gave the Rally in Solar Stocks Another Boost.
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Investors can generally ignore goals that world leaders promise the U.N. General Assembly they will achieve 40 years from now. Chinese President Xi Jinping’s recent pledge to make his country carbon neutral by 2060 is an exception.
The scope of Xi’s ambition, in a country that still gets two-thirds of its power from coal, is breathtaking. Follow-up documents from a Tsinghua University think tank estimate China will have to spend $15 trillion on green transformation, increasing solar power six times and wind more than three…Read More..
Source : barrons
