Illustration: Annelise Capossela/Axios

China's recently announced plan to reach carbon neutrality by 2060 would require investments of over $5 trillion, per new analysis from the consultancy Wood Mackenzie.

Why it matters: The estimate released Thursday shows how analysts are beginning to grapple with how China, by far the world's largest carbon emitter, might take steps to implement aspects of its ambitious but still-vague pledge.

  • "The hefty bill is the total sum required for additional power generation capacity to accommodate the growth in electrification by 2050," the consultancy said.

What they're saying: “It is definitely a colossal task for a country using 90% hydrocarbons in its energy mix and annually producing more than 10 billion tonnes of [carbon dioxide-equivalent], and in addition, accounting for 28% of global total emissions," said Prakash Sharma, a senior Woodmac analyst, in a statement.

The big picture: The scale of transformation needed is simply immense.

  • For instance, Woodmac estimates that China's wind, solar and storage capacity would have to increase elevenfold to 5,040 gigawatts (GW) by 2050 compared to 2020 levels.
  • "Total new stock of electric vehicles would hit 325 million units by 2050, compared to 4 million units today."

Go deeper: China's 2060 carbon neutral goal bill could hit over $5 trillion (Reuters)

Go deeper

Ben Geman, author of Generate
Oct 22, 2020 - Energy & Environment

U.S. cities' lagging climate progress

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Reproduced from a Brookings Institution report; Chart: Axios Visuals

A just-published Brookings Institution analysis of U.S. cities' pledges to cut carbon emissions reveals very mixed results.

Why it matters: The potential — and limits — of city and state initiatives have gotten more attention amid President Trump's scuttling of Obama-era national policies.

Updated 58 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"— COVID-19 looms over White House Halloween celebrations.
  2. Health: 13 states set single-day coronavirus case records last week — Fauci says maybe we should mandate masks if people don't wear themU.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.

Amy Coney Barrett's immediate impact

Illustration: Eniola Odetunde/Axios

In her first week on the job, Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.