World Striving Together to Shape a Future That is Low-Carbon, Resilient, and Fair: UN Climate Change Deputy Executive Secretary

Below are remarks delivered by UN Climate Change Deputy Executive Secretary Noura Hamladji at the China Carbon Market Conference in Shanghai on 24 September 2025.

Excellencies, Distinguished delegates,

It is an honour to join you in Shanghai at this pivotal moment for China's and the whole world's climate journey.

Allow me to begin by acknowledging China's strong leadership in global climate action.

China's "dual carbon" targets - peaking emissions before 2030 and achieving carbon neutrality before 2060 - have sent a clear signal to the world.

It has been a key part of the progress the world has made so far. That progress is substantial. Without UN-convened cooperation, humanity would be headed towards up to 5°C of global heating - which would decimate every economy.

We are now headed for around 3°C - it shows how far we have come through national efforts under the UN Framework Convention on Climate Change.

It also shows how far we have to go, as climate-driven floods, droughts and storms hit every country harder each year, driving down GDP, harming critical economic infrastructure and food security.

The worsening impacts make climate adaptation increasingly important, and I commend the work of China to help many highly vulnerable developing countries to build their resilience.

Excellencies, the decision to make carbon pricing a central policy tool is a model of how markets can be harnessed to drive systemic change.

Climate action is no longer just about ambition. It is about implementation. It is about systems, markets, and results, which deliver real and vast benefits for people, businesses and economies.

Carbon markets serve a dual function: achieving cost-effective mitigation and mobilizing private finance and innovation.

China knows this well.

Through active and sustained participation in the Clean Development Mechanism, this nation played a defining role in the foundations of the international carbon market.

China now has the largest carbon market in the world, covering over 8 billion tonnes of CO2 each year.

Its expansion to key industrial sectors is building momentum for the transition towards net-zero development.

Distinguished delegates, this is a crucial moment.

China has much to gain by making full use of the cooperative approaches under Article 6 in reaching its climate goals.

In doing so, China can not only reinforce its own pathway to net-zero, but also help to elevate global ambition and strengthen international cooperation at a moment when both are particularly important.

The UNFCCC secretariat will continue to work with China and all partners gathered here today, as we strive together to shape a future that is low-carbon, resilient, and fair.

I thank you.