The United Nations Climate Conference ( COP30 ) in Belém, Brazil, concluded with a renewed push for implementation. Nations agreed to triple climate funding for developing nations, expand support for communities facing climate impacts, and accelerate the shift to clean energy systems.

For China and its corporate leaders, these outcomes both reaffirm existing commitment and highlight the need to scale their global impact in the decade ahead.

China’s new 2035 NDC marks a strategic shift

Ahead of COP30, China submitted its 2035 Nationally Determined Contribution ( NDC ), outlining plans to reduce net emissions to 7-10% below peak levels by 2035, increase the share of non-fossil energy to 30%, and expand wind and solar capacity to over 3.6 terawatts.

For the first time, China specified medium-term reduction targets – a clear signal that sustainability is being embedded into its long-term growth strategy. Together with its 2060 net-zero ambition, China’s updated NDC strengthens its position as a global climate leader, shaping decarbonization pathways well beyond its borders.

Reshaping global energy transitions

Private enterprises are essential to achieving these goals. China’s leadership in renewables, electric vehicles, advanced batteries, and grid technologies has already lowered global costs, improved supply chain resilience, and accelerated adoption in both developed and emerging economies.

Over two decades, strong policy direction and targeted financing have enabled the world’s largest solar and wind industries, a globally competitive EV ecosystem, and a clean-tech manufacturing scale that continues to drive down costs. These advances have helped China curb domestic emissions while making clean energy more affordable worldwide. Climate corporates recognize that climate action is not only a responsibility but also a strategic business driver of competitiveness and global market influence.

Finance is critical to turning ambition into action

Across the region, sustainable finance markets continue to mature. Asia-Pacific recorded US$345 billion in labelled bond and loan issuance in the first three quarters of 2025, continuing a steady upward trend since 2021. Demand is strongest for green and sustainability-linked instruments, particularly in sectors aligned with China’s long-term climate goals: renewable energy, digital infrastructure, advanced manufacturing, and industrial efficiency upgrades. Growth in APAC was particularly robust, driven by financing for renewable energy, high-efficiency data centres, and next-generation industrial technologies.

These developments align with COP30’s call to mobilize US$1.3 trillion annually by 2035 for the global transition. Still, structural bottlenecks remain, including grid constraints, slow permitting cycles, gaps in long-term offtake agreements, and the need for more clarity on sectoral pathways.

Accelerate China’s global leadership

China has become one of the world’s largest green-bond markets, with rapid evolution in transition finance and sustainability-linked financing frameworks. As Chinese corporates expand internationally, these tools can help channel capital into credible decarbonization projects, strengthen transparency, and reinforce Asia’s sustainable-finance architecture.

Banks, investors, corporates, and regulators will need to work together to unlock this potential.

The need for system-wide policy reforms

Discussions in Belém underscored that technology and business ambition alone will not be enough. System-level changes, such as clearer carbon-price signals, streamlined permitting for renewable and clean-energy projects, consistent sustainability standards, and sector-specific transition pathways, will be critical to accelerate investment. Stronger incentives for alternative fuels and carbon-capture solutions, together with the gradual phase-out of fossil-fuel subsidies, can further strengthen investor confidence and unlock capital.

As global energy systems evolve under the pressures of AI, electrification, and digitalization, China’s ability to deliver clean technologies at scale will become even more influential.

A decisive decade for China, and the world

China’s pace of progress will materially shape the global trajectory towards the Paris Agreement goals. COP30 made clear that ambition is no longer the challenge – execution is. With their technological strength and growing global reach, Chinese corporates have an opportunity to drive solutions well beyond their domestic market.

By pairing innovation with supportive policy frameworks and effective financing mechanisms, they can help accelerate a more sustainable and competitive global economy.

James Poon is country manager, mainland China and Hong Kong SAR, ING. Candy Tang is director, sustainable solutions group, Asia-Pacific, ING.