China Emerges as the Top Global Investor in Energy Transition
China has emerged as the leading global investor in energy transition initiatives. The nation's substantial financial commitments and innovative strategies have positioned it at the forefront of the global shift towards sustainable energy sources. This development highlights China's pivotal role in addressing climate change and promoting renewable energy technologies on a worldwide scale.
TroibNews 
According to a white paper from China's State Council Information Office, released on Thursday, China has ascended to become the foremost global investor in energy transition. The document illustrates how the nation is pushing forward the worldwide shift toward sustainable energy and a cleaner environment.
In 2023 alone, China's spending on energy transition surged to $676 billion, positioning it at the pinnacle of international investment in the sector.
The white paper, named "China's Energy Transition," chronicles the significant strides and landmark achievements China has made in the area of energy transition over the last ten years.
The white paper notes that China has intensified its efforts in technological innovation, significantly advancing the development of new energy technologies. This acceleration has importantly contributed to substantial reductions in the global costs of wind and photovoltaic power.
Furthermore, the export of wind power and photovoltaic systems from China has played a critical role in helping other nations cut down their carbon dioxide emissions by approximately 810 million tonnes in 2023.
The report also highlights that, since 2013, China's contribution to the yearly growth in global renewable energy capacity has been over 40 percent. Moreover, last year, the proportion of renewable energy capacity installed by China constituted more than half of the total added worldwide.
Over the past decade, there has been a consistent reduction in China's energy intensity, leading to considerable energy savings equivalent to around 1.4 billion tonnes of standard coal, and cutting down carbon dioxide emissions by about 3 billion tonnes, the white paper mentioned.
China has engaged with over 100 countries and regions in green energy initiatives, enhancing the global energy supply, reducing worldwide inflation pressures, and bolstering efforts to combat climate change and promote green development.
Looking forward, the white paper states that "China will work with the rest of the world to improve the industrial and supply chains of clean energy and contribute to global sustainable energy development."
(With input from Xinhua)
Sanya Singh for TROIB News
In 2023 alone, China's spending on energy transition surged to $676 billion, positioning it at the pinnacle of international investment in the sector.
The white paper, named "China's Energy Transition," chronicles the significant strides and landmark achievements China has made in the area of energy transition over the last ten years.
The white paper notes that China has intensified its efforts in technological innovation, significantly advancing the development of new energy technologies. This acceleration has importantly contributed to substantial reductions in the global costs of wind and photovoltaic power.
Furthermore, the export of wind power and photovoltaic systems from China has played a critical role in helping other nations cut down their carbon dioxide emissions by approximately 810 million tonnes in 2023.
The report also highlights that, since 2013, China's contribution to the yearly growth in global renewable energy capacity has been over 40 percent. Moreover, last year, the proportion of renewable energy capacity installed by China constituted more than half of the total added worldwide.
Over the past decade, there has been a consistent reduction in China's energy intensity, leading to considerable energy savings equivalent to around 1.4 billion tonnes of standard coal, and cutting down carbon dioxide emissions by about 3 billion tonnes, the white paper mentioned.
China has engaged with over 100 countries and regions in green energy initiatives, enhancing the global energy supply, reducing worldwide inflation pressures, and bolstering efforts to combat climate change and promote green development.
Looking forward, the white paper states that "China will work with the rest of the world to improve the industrial and supply chains of clean energy and contribute to global sustainable energy development."
(With input from Xinhua)
Sanya Singh for TROIB News
