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China's emission reduction targets don't go far enough: U.S. deputy secretary for energy

China’s current emissions reduction targets are not as strong as they need to be, U.S. Deputy Secretary for Energy David Turk said Monday.

“I think every country needs to take a look at what it’s doing, especially in its implementation phase,” Turk told CNBC’s Steve Sedgwick at the COP28 summit.

“I’ve looked at the numbers for many, many years now. I don’t think their NDC is as robust and ambitious as it needs to be. They’re doing an awful lot in EVs and solar and wind, but if you’re also building out coal at the scale they’re doing, that’s not going to be good enough.”

“NDC” refers to “nationally determined contributions,” targets on emissions reductions that are submitted to the United Nations Framework Convention on Climate Change by countries every five years under a plan agreed at the landmark COP21 summit in Paris in 2015.

Climate Action Tracker, an independent scientific review project, currently rates China’s climate targets as “highly insufficient,” and the U.S.’s as “insufficient.”

Turk said that at the recent Sunnylands meeting on climate change between the U.S. and China, U.S. Special Presidential Envoy for Climate John Kerry had “put out his hand for the Chinese to embrace and to try to work together in areas where it makes sense to work.”

The U.S. and China need to “raise both of our levels of ambition, because we’re the two biggest economies and the two biggest emitters right now,” Turk added.

Companies must ‘step up’

On the attendance of companies like Exxon at COP, Turk told CNBC: “I think it is significant. And I think everybody needs to be at the table, we all need to be part of the conversation. But we also need to ask each other tough questions as well.”

Turk pointed to an agreement announced on Saturday which will crack down on methane emissions in the U.S. oil and gas industry, building on a 150-country pledge on the issue.

Turk said cutting methane emissions from oil and gas was the “biggest no brainer out there,” but it had taken too long to make progress.

Another example of a tough question that needed addressing, Turk said, was on Scope 3 emissions — a measurement of direct and indirection emissions.

“Many oil and gas companies, their Scope 3 emissions are 10 times Scope 1 and Scope 2 combined. So we need to have a real conversation on Scope 3, what is the plan to reduce those Scope 3 emissions? And that’s, I think, what’s missing at a national and COP and at a corporate level as well,” he said.

“I think companies really need to step up… They can’t just say, Oh, we’re just providing a product. What people do with the product — they’re going to burn that product, it’s going to release CO2 into the atmosphere, 63% of our emissions right now are from oil and gas. That’s an awful lot of emissions.”

Bill Gates: I have hope in messages coming out of COP

Oil and gas companies are currently “making an awful lot of profit,” but only 1% of spending globally for clean energy is coming from oil and gas companies, he said.

“So follow the money, where are they investing? And some companies are investing, some companies aren’t investing as much.”

The U.S. government hopes that incentives, including the Inflation Reduction Act and the large subsidies included in it, will encourage more investment across carbon capture, hydrogen, geothermal, offshore wind and “other areas that oil and gas companies could be hugely, hugely helpful on,” he said. It is also important to “follow the money” to see where companies and influential corporate leaders are creating an uneven playing field through lobbying, he added.

Science is science

Turk finally addressed recent controversial comments made by COP28 President Sultan al-Jaber, who recently claimed there was “no science” behind targets for a phase out of fossil fuels.

“Science is science and numbers are numbers, right? And we’re seeing the worst impacts already that we’ve seen of climate change, but it’s only going to get worse. Even if we get our act together, we’ve got a limited amount of carbon budget. Right now we’ve got to make the numbers add up to get to net zero by mid century.”

“If people are not acknowledging that, appreciating that and have credible plans, including Scope 3 emissions from the oil and gas sector, then that’s not really taking these issues head on.”

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.

The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.

The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.

China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.

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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.

To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.

The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.

As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.

Read more: California now has nearly 50% more EV chargers than gas nozzles


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Two charged in $650 million global crypto scam that promised 300% returns

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Two charged in 0 million global crypto scam that promised 300% returns

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.

Kevin Lamarque | Reuters

Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.

The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.

“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”

From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.

Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.

A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.

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In reality, authorities allege, OmegaPro was a pyramid-style fraud.

When the company later claimed it had suffered a hack, the defendants told victims they had transferred their funds to a new platform called Broker Group, the DOJ said. Users were never able to withdraw their money from either platform.

The two men face charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum sentence of 20 years in prison.

The Justice Department, FBI, IRS-Criminal Investigation, and Homeland Security Investigations led the multiagency investigation, with help from international partners.

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Tesla forced to refund $10,000 FSD payment and 0% interest on Cybertruck

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Tesla forced to refund ,000 FSD payment and 0% interest on Cybertruck

Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!

An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.

Check out the relevant links, below, to learn more.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

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New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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