On 16 June 2026, the Carbon Economics Salon Series was held at Peking University HSBC Business School (PHBS) in Shenzhen, jointly organised by the Institute of Carbon Neutrality, Peking University and PHBS. The event, themed "Breaking Through Green Barriers: Carbon Economy Governance and the Reshaping of International Trade Rules," brought together nearly 100 scholars, industry participants, and representatives from relevant organisations.

Attendees at the salon

The salon took place against a wider backdrop of challenges in the transition toward carbon neutrality. Discussions focused on climate-related trade measures, carbon market cooperation with the Global South, and new questions raised by artificial intelligence in carbon governance.

From left to right: Piao Shilong and Hai Wen

In opening remarks, Piao Shilong, vice president of Peking University and dean of the Institute of Carbon Neutrality, described the “dual carbon” agenda as a broad structural transformation involving energy, industry, consumption, and global governance. Hai Wen, vice chair of the Peking University Council and founding dean of PHBS, highlighted PHBS's long-standing interest in global economic governance and its contribution to discussions on global carbon governance.

The keynote session brought together different approaches to carbon economics, from market design to climate modelling and research trends.

From left to right, top to bottom: Wang Pengfei, Thomas J. Sargent, Jiang Kejun, and Wu Dengsheng

Wang Pengfei, Boya Distinguished Professor at Peking University and dean of PHBS, spoke about the role of economists in the “dual carbon” agenda. He emphasized carbon pricing, carbon trading, and market design as important tools for addressing emissions externalities and shaping global carbon governance.

Thomas J. Sargent, 2011 Nobel laureate in economics and honorary director of the PHBS Sargent Institute of Quantitative Economics and Finance, discussed climate policy under uncertainty. In his presentation, “Carbon and Sustainable Climate Abatement: An Economist's Perspective,” he noted that uncertainty should encourage earlier investment in green R&D, emissions reduction, and forest conservation.

Jiang Kejun, professor and head of the Carbon Neutrality and Climate Change Thrust at the Hong Kong University of Science and Technology (Guangzhou), presented “Fighting for the 1.5°C Target: Focusing on China's Emission Scenarios for 2030 and 2035” (为1.5℃目标而战：聚焦2030与2035年的中国排放情景). He noted that global warming is moving closer to the 1.5°C threshold, making the period before 2035 especially important for accelerating the low-carbon transition. In China's case, he pointed to the expansion of wind, solar, and nuclear power, the wider adoption of electric vehicles, and falling energy storage costs as factors that could support faster emissions reductions between 2030 and 2035. He also emphasized the role of carbon pricing and international investment in promoting technology diffusion and supporting the global low-carbon transition.

Wu Dengsheng, distinguished professor at the College of Management, Shenzhen University, presented findings from a research project on major frontier issues in carbon economics conducted by the Institute of Carbon Neutrality, Peking University. His report, “Research Trends in Energy Economics and Carbon Neutrality, 2000–2025,” drew on 4,500 papers published in major Chinese- and English-language journals in the field. The study showed rapid growth in carbon economics research, with China now ranking second globally in publication volume. He noted that although Chinese- and English-language studies reflect different research priorities, the field as a whole is becoming broader in scope, pointing to wider shifts in the global research landscape.

Scholars share insights at two roundtable discussions

Two roundtable discussions followed. The first focused on the spread of unilateral climate-related trade measures and governance dynamics. The second examined carbon market development and collaborative governance with the Global South. Participants included scholars and representatives from Peking University, Tsinghua University, Jinan University, University College London, the China Beijing Green Exchange, the Shanghai Environment and Energy Exchange, the Shenzhen Institution of Sustainable Development, Energy Foundation China, SusallWave, among other institutions.

The discussions were chaired by Xu Qinyi, research fellow at Peking University's School of International Studies and Institute of Carbon Neutrality, and Cen Wei, associate professor at PHBS and secretary-general of the PHBS Think Tank.

Closing remarks

In closing remarks, Zhang Haibin, Boya Distinguished Professor at Peking University, vice dean of the School of International Studies, and vice dean of the Institute of Carbon Neutrality, thanked participants for their contributions to the salon and their continued attention to carbon neutrality research and policy.

Participants pose for the group photo

The salon also opened space for continued exchange between Peking University HSBC Business School and the Institute of Carbon Neutrality, Peking University on global climate governance and China's “dual carbon” goals.

Source: International Office，Annie Jin