Ligang Song, Yixiao Zhou
In 2020, China started the drive to commence a reduction in carbon emissions by 2030 and reach carbon neutrality by 2060, setting in motion a transition to a green, sustainable and clean economy. China has ambitiously developed clean energy alternatives to coal. This transformation encompasses multifaceted strategies ranging from investment in renewable energy and the development of low-emission technologies to more stringent policy regulations on emissions. Renewable energy sources like hydroelectric power, wind, solar and biomass have received substantial attention and investment, with China emerging as a global leader in renewable energy capacity.
In the technology space, China’s transitioning to electric vehicles (EVs) has catalysed the development of a robust EV market, fostering innovation in battery technology and charging infrastructure. China has now become the largest exporter of EVs in the world market. These developments have the potential to materially help curb the world’s carbon footprint and mitigate environmental degradation.