Global Landscape of Climate Change Response, Chinese Practices, and Financial Challenges

Abstract

This study examines advancements in addressing climate change on an international scale, with a particular focus on initiatives undertaken in China, while also identifying the fiscal and funding obstacles that have emerged throughout these efforts. The study finds that although a global climate governance framework centered on the Paris Agreement has been established, it faces structural dilemmas such as intensifying geopolitical rivalry and a "deadly gap" between emission reduction actions and temperature control targets. China's pursuit of its "dual carbon" targets, supported by the overarching "1+N" policy framework, has yielded substantial progress in sectors such as renewable energy and electric vehicles. This approach reflects a transition strategy oriented toward fostering sustainable economic growth. However, global climate action is severely constrained by funding, with the scale of finance falling far short of requirements and exhibiting structural imbalances between mitigation and adaptation efforts, as well as across different regions. The conclusion points out that the future success of global climate governance hinges on bridging three critical divides—political, implementation, and financial—by driving reforms in the financial system and fostering substantive international cooperation.