According to China’s top climate official, fossil fuels, which contribute to global warming, must continue to play an important role in ensuring the world’s energy security.

Xie Zhenhua, China’s special climate envoy, responded to ambassadors’ remarks at a discussion in Beijing on Thursday before the November COP28 climate meeting in Dubai. China consumes more coal and oil than any other country. Xie’s speech was recorded on camera, and Reuters obtained its transcript.

A United Nations-led global “stocktake” found that 20 gigatons of more carbon dioxide reductions would be needed in this decade alone to keep temperatures from crossing the critical threshold of 1.5 degrees Celsius, increasing the pressure on countries to make more ambitious pledges to combat global warming.

At the COP28 climate meeting, the stocktake will be front and center, as activists hope it will generate the political will to establish explicit targets to halt coal and oil consumption.

On the other hand, Xie said that the world must continue to rely on fossil fuels to secure economic growth because renewable energy is unreliable, and crucial technologies, such as energy storage, are still in their infancy.

Xie, China’s representative at COP28, stated that entirely phasing out fossil fuel energy is unfeasible.

China pushed for a rewording of the final accord at the 2021 climate negotiations in Glasgow from “phasing out” to “phasing down” fossil fuels. Abatement technologies, including carbon capture and storage, have China’s backing for increased deployment.

While Xie stated China was open to creating a global renewable energy target, he clarified that stopping fossil fuel use was not on the table at COP28.

A $100 billion annual fund to assist developing nations in adapting to climate change will soon be made accessible, he said, adding that this was “only a drop in the bucket.” His U.S. colleague, John Kerry, guaranteed this to him.

After a break caused by U.S. Congresswoman Nancy Pelosi’s travel to the self-governing island of Taiwan, which China claims as its own, top-level climate negotiations between China and the United States resumed in July.

China has dismissed the United States attempts to treat climate change as a diplomatic “oasis” that can be divorced from the broader geopolitical issues between the two sides, especially in light of the United States’ continued trade restrictions against Chinese solar panels.

Xie warned that countries should not “politicize” collaboration in new energy since it could increase the price of solar panels by 20–25% and slow the energy transition.

As for the European Union’s proposed Carbon Border Adjustment Mechanism, which would add carbon duties to imports from China and elsewhere, he underlined China’s opposition to the plan.