Wuhan University Talks with Cambridge University to Help Achieve Carbon Neutrality

On November 9, in order to strengthen cooperation and exchanges between China and the UK in tackling climate change, the European Study Center of Wuhan University, the Climate Change and Energy Economics Study Center of Wuhan University and the Energy Policy Research Institute of Cambridge University jointly held the "3+3 High end Dialogue between Wuhan University and Cambridge University" under the theme of "Carbon Market". More than 30 experts and scholars from Wuhan University in China and Cambridge University in the United Kingdom gathered together. They shared the experiences and achievements of their respective country in carbon market development, and conducted a dialogue on how to use the carbon market and other policies to help achieve carbon neutrality.

Professor Qi Shaozhou, Director of the European Study Center of Wuhan University and the Climate Change and Energy Economics Study Center of Wuhan University, and Professor Michael G. Pollitt, Director of the Energy Policy Research Institute of Cambridge University, delivered welcoming speeches for the event.

Professor Qi briefly introduced the process of China's pilot project and the development of the national carbon market. He pointed out that the UK has rich experience in participating in the EU carbon market and building the UK carbon market. On the occasion of the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), it is of great significance for China and the UK to have a dialogue under the theme of "carbon market", which is an important market-oriented policy tool to tackle climate change, and to further deepen bilateral exchanges, promote China UK cooperation on climate change and achieve the goal of carbon neutrality.

Michael G. Pollitt said that the EU carbon market has a long history of development, it has achieved certain emission reduction goals, but has been criticized in many aspects. However, as an important carbon pricing tool, the carbon market plays an irreplaceable role. The UK is also building its own carbon market. At present, China's carbon market has surpassed the EU as the largest carbon market in the world. Scholars have been following the development of China's carbon market with great enthusiasm. They are very happy to learn more about China's carbon market through this exchange with the team of Wuhan University, and take this opportunity to strengthen China-UK cooperation on climate change.

Six famous experts and scholars from China and the UK were invited to participate in this high-end dialogue. They are: Qi Shaozhou, Michael G. Pollitt, Zhang Jihong, Deputy Director of the Climate Change and Energy Economics Study Center of Wuhan University, Li Kai, Professor David M. Reiner from the Cambridge Judge Business School, and Dr. Robert Ritz, Deputy Director of the Energy Policy Research Institute of Cambridge University.

In the subsequent discussion, experts and scholars discussed in depth on how to use the carbon market and other climate and energy policies to promote carbon emission reduction, the feasibility of linking carbon markets, and the progress and impact of the EU's carbon border regulation mechanism.

The "Wuhan University - Cambridge University 3+3 High end Dialogue" focuses on theoretical research, model construction, practical results and development prospects of carbon market development in China and UK and carbon market coordination with other policies in the context of carbon neutrality, it helps to lay a foundation to strengthen scientific cooperation, talent training, academic exchanges and curriculum development between Wuhan University and Cambridge University. Meanwhile, in the critical period of global response to climate change, the dialogue also provides support for China and the UK to strengthen cooperation, learn from each other, jointly promote market-oriented policies to address climate change and coordinate with other policies.