China has emerged as the leading global investor in energy transition, playing a pivotal role in advancing a cleaner world, reported Xinhua News Agency citing a recent white paper.
In 2023, the country’s investments in energy transition soared to $676 billion, positioning it as the foremost investor in this sector, as highlighted in the white paper titled “China’s Energy Transition.”
China has significantly intensified its focus on technological innovation, accelerating the development of new energy technologies. This has led to substantial decreases in the costs of wind and photovoltaic power on a global scale, as noted in the report.
The nation has collaborated with over 100 countries and regions on green energy initiatives, enhancing the global energy supply, alleviating inflationary pressures, and contributing to international efforts to tackle climate change and promote sustainable development.
Additionally, China’s exports of wind and photovoltaic products enabled other nations to cut carbon dioxide emissions by roughly 810 million tons in 2023, according to the white paper.
Read more: China pledges $20 million to UNCTAD to boost sustainable development efforts
In June 2024, Chinese President Xi Jinping declared a $20 million donation to the United Nations Conference on Trade and Development (UNCTAD) to be distributed over the next five years, as reported by China Global Television Network (CGTN). This commitment was announced during a video address at the opening ceremony commemorating UNCTAD’s 60th anniversary.
For more news on sustainability, click here.
