The intersection of climate policy and international trade is emerging as one of the most significant challenges facing the Asia-Pacific region. This issue was at the heart of the Carbon Economics Salon Series held in Shenzhen on June 16, which brought together almost 100 academics, government officials, and business representatives. The event took place shortly before the APEC Forestry Ministerial Meeting scheduled for July 27–28, where the region’s transition toward greener economic models is expected to receive considerable attention.
Under the theme “Breaking through Green Barriers: Carbon Economy Governance and the Reshaping of International Trade Rules,” the event was jointly organized by Peking University HSBC Business School (PHBS) and the Institute of Carbon Neutrality at Peking University (ICN-PKU). Participants explored three closely related issues: the growing use of unilateral climate-related trade policies, disparities in the development of carbon markets, and the increasing application of artificial intelligence to carbon governance. These discussions also anticipated several issues likely to influence the broader APEC climate agenda later in the year.
During the opening session, Piao Shilong, vice president of Peking University and dean of ICN-PKU, together with Hai Wen, vice chair of the PKU Council and founding dean of PHBS, emphasized the need for a global carbon governance framework that is both coordinated and inclusive. Wang Pengfei, Boya Distinguished Professor at PKU and dean of PHBS, highlighted the importance of strengthening carbon pricing systems and expanding the use of market-oriented approaches to address emissions.
The keynote address was delivered by Thomas J. Sargent, the 2011 Nobel laureate in economics and honorary director of the PHBS Sargent Institute of Quantitative Economics and Finance. He argued that uncertainty surrounding climate and economic conditions should not delay action; instead, it should encourage earlier investment in green research and development, emissions mitigation, and forest preservation.
Jiang Kejun, professor and head of the Thrust of Carbon Neutrality and Climate Change at HKUST (Guangzhou), pointed to the period between 2030 and 2035 as a particularly important phase for China’s energy transformation, supported by the rapid expansion of renewable energy and electric vehicles. Wu Dengsheng, a professor at Shenzhen University, provided an overview of research in carbon economics and noted that China currently ranks second globally in terms of academic publications in the field.
Two roundtable discussions broadened the debate. The first focused on the increasing adoption of unilateral climate-related trade measures and the consequences these policies may have for fairness in international commerce. The second examined opportunities for cooperation on carbon markets, particularly in relation to countries and economies in the Global South. In his closing remarks, Zhang Haibin, Boya Distinguished Professor at PKU and vice dean of ICN-PKU, stressed the value of maintaining sustained dialogue and collaboration across academic and professional disciplines.
Overall, the salon demonstrated that carbon governance can no longer be viewed solely as an environmental issue. Trade policy, technological development, carbon markets, and international cooperation are becoming increasingly interconnected in shaping the global response to climate change. The event also provided a platform for PHBS and ICN-PKU to continue exchanging ideas on international climate governance and China’s “dual carbon” objectives. These issues are likely to gain further prominence as APEC economies expand their efforts toward coordinated climate action and a greener regional economy.
Under the theme “Breaking through Green Barriers: Carbon Economy Governance and the Reshaping of International Trade Rules,” the event was jointly organized by Peking University HSBC Business School (PHBS) and the Institute of Carbon Neutrality at Peking University (ICN-PKU). Participants explored three closely related issues: the growing use of unilateral climate-related trade policies, disparities in the development of carbon markets, and the increasing application of artificial intelligence to carbon governance. These discussions also anticipated several issues likely to influence the broader APEC climate agenda later in the year.
During the opening session, Piao Shilong, vice president of Peking University and dean of ICN-PKU, together with Hai Wen, vice chair of the PKU Council and founding dean of PHBS, emphasized the need for a global carbon governance framework that is both coordinated and inclusive. Wang Pengfei, Boya Distinguished Professor at PKU and dean of PHBS, highlighted the importance of strengthening carbon pricing systems and expanding the use of market-oriented approaches to address emissions.
The keynote address was delivered by Thomas J. Sargent, the 2011 Nobel laureate in economics and honorary director of the PHBS Sargent Institute of Quantitative Economics and Finance. He argued that uncertainty surrounding climate and economic conditions should not delay action; instead, it should encourage earlier investment in green research and development, emissions mitigation, and forest preservation.
Jiang Kejun, professor and head of the Thrust of Carbon Neutrality and Climate Change at HKUST (Guangzhou), pointed to the period between 2030 and 2035 as a particularly important phase for China’s energy transformation, supported by the rapid expansion of renewable energy and electric vehicles. Wu Dengsheng, a professor at Shenzhen University, provided an overview of research in carbon economics and noted that China currently ranks second globally in terms of academic publications in the field.
Two roundtable discussions broadened the debate. The first focused on the increasing adoption of unilateral climate-related trade measures and the consequences these policies may have for fairness in international commerce. The second examined opportunities for cooperation on carbon markets, particularly in relation to countries and economies in the Global South. In his closing remarks, Zhang Haibin, Boya Distinguished Professor at PKU and vice dean of ICN-PKU, stressed the value of maintaining sustained dialogue and collaboration across academic and professional disciplines.
Overall, the salon demonstrated that carbon governance can no longer be viewed solely as an environmental issue. Trade policy, technological development, carbon markets, and international cooperation are becoming increasingly interconnected in shaping the global response to climate change. The event also provided a platform for PHBS and ICN-PKU to continue exchanging ideas on international climate governance and China’s “dual carbon” objectives. These issues are likely to gain further prominence as APEC economies expand their efforts toward coordinated climate action and a greener regional economy.