China Lays Out Fiscal Tools to Reach Carbon Neutrality by 2060

The Ministry of Finance said it wants to improve market participation and use tax tools to help steer the country toward being carbon neutral by 2060.

The plans were announced on Monday as part of a policy document flagging fiscal measures to support carbon emission peaking and carbon neutrality. Among other measures, the ministry hopes to strengthen the guiding role of fiscal funds, improve green government procurement policies, and promote international collaboration to deal with climate change.