CNR:

Is China optimistic about COP26 to deal with the unresolved issues regarding the implementation of Article 6 of the Paris Agreement? What efforts will be made? Thank you.

Ye Min:

Thank you. Mr. Sun will answer your questions.

Sun Zhen:

Thank you, Mr. Ye. Thank you for your questions. The primary task for COP26 is to complete negotiations over the detailed rules for implementing the Paris Agreement, especially the market mechanism, that is, the unresolved issues under Article 6. They are the foundation and precondition for all parties to effectively implement the Paris Agreement in an all-round manner, as well as an important symbol of maintaining the trust in the multilateral mechanism among the international community, especially the industrial and commercial sectors. We expect all parties to work together in the same direction. Developed countries should take more constructive actions and fully demonstrate flexibility, uphold the principle of common but differentiated responsibilities, adhere to nationally determined goals and policies, and avoid retrogressive stances and even renegotiations over issues where consensus has already been reached.

Here are some key aspects. First, we hope the market mechanism can provide developing countries with financial support so they can better adapt to climate change. Adapting to climate change is a major concern for developing countries. At present, the funds provided by developed countries are far from meeting the needs of developing countries in this respect. China advocates providing stable and predictable financial support to help developing countries adapt to climate change. In particular, we expect developed countries to demonstrate a positive and constructive attitude so that all parties can work together to find reasonable solutions.

The second is the relationship between the emission reductions under the market mechanism and nationally determined contributions (NDCs). No parties should be required to adjust their NDCs due to the transfer of mitigation outcomes. At the same time, China understands the concerns of some parties over this rule. Therefore, we are willing to set a reasonable time limit based on the coverage of NDCs and other factors. We kindly request relevant parties to clarify the coverage of their NDCs when participating in the market mechanism.

The third is about the transition issue of emission reductions achieved before 2020. We hope to sustain the confidence and enthusiasm of industrial and commercial sectors in the market mechanism of the Paris Agreement. All parties should be allowed to use their certificated emission reductions before 2020 toward their NDCs and engage in emissions trading. For this purpose, we would like to explore some compromise solutions. China is willing to work together with the United Kingdom, which holds the presidency of COP26, and adhere to the multilateral process in an open, transparent, inclusive, party-driven, and consensus-based manner. We will maintain close communications and coordination in a bid to complete the agenda and negotiations over the unresolved issues regarding the implementation of the Paris Agreement. Thank you.