Core Viewpoint - The article discusses the significant impact of the "Big and Beautiful Act" passed under Trump's administration, which ends long-standing federal support for solar and wind energy, favoring fossil fuels instead. This act is seen as a major victory for Trump, as it dismantles Biden's legacy of promoting renewable energy [1][3]. Summary by Sections Impact on Renewable Energy - The "Big and Beautiful Act" tightens tax incentives for clean energy, which have been crucial for the development of renewable energy since their introduction in 2005 and 1992. The act stipulates that solar and wind projects operational after 2027 will no longer receive these incentives, indicating a potential decline in clean energy investments in the U.S. [3][4]. - According to Rhodium Group, since the Inflation Reduction Act was passed in 2022, the corporate sector has invested $321 billion in U.S. clean energy projects, with an expected additional investment of $522 billion. However, the new act is likely to severely impact the profitability of these projects [3][4]. Electric Vehicle Sector - The act terminates the $7,500 tax credit for new electric vehicle purchases and the $4,000 credit for used electric vehicles, which is expected to decrease the penetration rate of electric vehicles in the U.S. market [3][4]. - Experts indicate that the act will harm not only U.S. electric vehicle companies but also allies like South Korea and Japan, which have invested in U.S. manufacturing but lack cost advantages compared to Chinese electric vehicle manufacturers [4]. Foreign Entity Restrictions - The act imposes strict restrictions on foreign entities (FEOC) involved in clean energy projects, limiting tax credits for companies that engage with prohibited foreign entities or source materials from them. This aims to exclude Chinese companies from clean energy subsidies [5][6]. - The act's FEOC provisions are broader than those in the Inflation Reduction Act, affecting more Chinese companies, including private enterprises, and limiting indirect investments through technology licensing and material sourcing [5][6]. Economic Implications - The act is expected to freeze project financing in the clean energy sector, with significant implications for the U.S. energy landscape. The time required for clean energy projects to become operational may lead to financial losses and project cancellations [7]. - If clean energy tax incentives are removed, the construction of solar, wind, and storage projects could decrease by 57% to 72% by 2035, while electricity demand continues to rise, leading to increased energy costs for consumers and businesses [10][11]. Global Climate Governance - The article suggests that as long as the Republican Party remains in power, global climate governance will face challenges, with China and Europe likely to take a more prominent role in climate initiatives. The U.S. withdrawal from climate commitments could hinder global efforts to address climate change [11].

Core Points - The passage of Trump's "Big and Beautiful Act" marks a significant shift away from federal support for solar and wind energy, favoring fossil fuels instead [1][10] - The act is expected to have a profound impact on the U.S. and global renewable energy industries, leading to a decline in clean energy investments and potential job losses [2][9] Summary by Sections Impact on Renewable Energy - The "Big and Beautiful Act" tightens tax incentives for clean energy, particularly affecting investments in wind and solar power, which have historically relied on these tax credits [2] - The act stipulates that solar and wind projects operational after 2027 will no longer receive tax credits, indicating a potential decline in U.S. clean energy investments [2] - Consulting firm Rhodium Group estimates that the cancellation of clean energy tax incentives could reduce the construction of solar, wind, and storage projects by 57% to 72% by 2035 [8] Electric Vehicle Sector - The act terminates the $7,500 tax credit for new electric vehicle purchases and the $4,000 credit for used electric vehicles, likely leading to a decrease in electric vehicle penetration in the U.S. [2][3] - Experts suggest that the act will harm not only U.S. electric vehicle companies but also allies like South Korea and Japan, which have invested in U.S. manufacturing [3] Foreign Entity Restrictions - The act imposes strict restrictions on investments from "Prohibited Foreign Entities" (PFE), which includes companies from countries like China, Russia, and Iran, limiting their access to energy tax credits [4][5] - Companies must ensure that over 60% of their components are sourced outside of China to qualify for tax credits, a requirement that will increase to 85% by 2030 [4] Economic and Political Implications - The act is seen as a move towards protectionism, aiming to bolster domestic industries while weakening foreign competition, particularly from China [5] - The act's implementation may freeze project financing in the clean energy sector, as the time from project initiation to operation can span several years [5][8] Broader Consequences - The act is expected to increase electricity prices for consumers, with average household electricity costs projected to rise by 7.3% and business costs by 10.6% [8] - The shift away from clean energy initiatives may hinder global climate governance efforts, as the U.S. is a major carbon emitter [8][10]

Group 1 - The BRICS countries are becoming a significant force in promoting sustainable development amid global energy transformation and climate governance challenges [1][4] - The "BRICS Sustainability and Energy Transition Summit" will take place on July 9, 2025, in Brazil, supported by Brazilian President Lula, featuring high-level officials and leaders from various sectors [1][2] - The summit will focus on three main themes: clean energy development, economic decarbonization pathways, and carbon market construction, addressing both current industry transformation issues and long-term global climate governance [1][4] Group 2 - Dilma Rousseff, President of the New Development Bank (NDB), will deliver a keynote speech on the bank's strategic positioning and financing innovations for green transitions among member countries [2] - Chinese companies such as Huawei and China National Offshore Oil Corporation (CNOOC) will share their experiences in green technology and energy projects, highlighting China's role in the green economy [3] - The summit aims to connect BRICS cooperation with global climate governance, exploring new ideas for energy transition and green economy practices, particularly from Brazil's agricultural and environmental sectors [4]

Core Insights - Shenzhen has launched the "Climate Change White Paper (2024)" showcasing its efforts in climate governance and sustainable development as a national model city [1][3] Group 1: Achievements in Carbon Neutrality - Under the "dual carbon" goals, Shenzhen has made significant progress in green and low-carbon transformation, with strategic emerging industries accounting for 42.3% of GDP and green low-carbon industries contributing 243.9 billion yuan [3] - The clean energy installed capacity has surpassed 80%, with renewable energy outpacing coal power for the first time [3] - The penetration rate of new energy vehicles reached 76.9%, and the area of green buildings reached 210 million square meters, leading the nation [3] - Shenzhen has created 134 national-level green factories and has enhanced its carbon sink capacity, with forest stock exceeding 4.69 million cubic meters [3] Group 2: Carbon Market and Green Finance - As the first city in China to pilot carbon emissions trading, Shenzhen has expanded its carbon market to cover 38 industries and 708 key emission units, with a cumulative trading volume of 10.8 million tons and a transaction value of 2.475 billion yuan by the end of 2024 [3][4] - The balance of green credit has surpassed 1 trillion yuan, and 293 climate financing projects have been launched [3] Group 3: Climate Adaptation and Resilience - Shenzhen has significantly improved its monitoring and early warning capabilities, establishing comprehensive risk maps and a dense meteorological observation network [5][6] - The city has advanced ecological restoration projects, with 43 projects completed, including the creation and restoration of mangrove forests [6] - Infrastructure resilience has been enhanced, with flood control capabilities rated for 100-200 year events and urban water supply capacity at 85 days [7] Group 4: Policy Framework and Support - The city has developed a robust policy framework, including the "National Carbon Peak Pilot (Shenzhen) Implementation Plan" and the "Shenzhen Climate Change Adaptation Plan (2023-2035)" [8] - Shenzhen is advancing a multi-level greenhouse gas emission accounting system and has established a high-precision greenhouse gas monitoring network [8] Group 5: Community Engagement and Future Outlook - There is a growing public engagement in green initiatives, with campaigns promoting low-carbon lifestyles and participation in international climate discussions [9] - Looking ahead, Shenzhen aims to enhance carbon emission control, accelerate green development, and contribute to global climate governance [9]

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四是强化务实行动。各方都应该尽最大努力，在统筹经济发展和能源转型基础上制定和实施国家自 主贡献的行动纲领。中国将于联合国气候变化贝伦大会前，宣布覆盖全经济范围、包括所有温室气体的 2035年国家自主贡献目标。 一是坚守多边主义。坚定维护以联合国为核心的国际体系、以国际法为基础的国际秩序，坚定维护 国际公平正义。秉持法治精神，重信守诺，锚定绿色低碳发展，通过多边治理共同应对气候危机。 二是深化国际合作。以开放包容超越隔阂冲突，以合作促进技术创新和产业变革，使优质绿色技术 和产品自由流通，让各国特别是广大发展中国家都用得上、用得起、用得好。中国将大力深化南南合 作，继续为其他发展中国家提供力所能及的帮助。 三是推动公正转型。以人民为中心，协同推进民生福祉改善和气候治理，统筹保护环境、发展经 济、创造就业、消除贫困等多重目标。发达国家有义务向发展中国家提供帮助和支持，助力全球绿色低 碳转型，增进各国人民共同和长远福祉。 4月23日，国家主席习近平向气候和公正转型领导人视频峰会发表致辞。新华社记者 黄敬文 摄 新华社北京4月23日电 4月23日，国家主席习近平向气候和公正转型领导人视频峰会发表致辞。 习近平指出，今年 ...