Eco Money: Are China's financial and policy reforms enough to push the world's biggest polluter towards dominance in renewables?
Description
At a time when the threat of climate change is prompting countries to reshape their environmental and energy policies, China's commitment through investments, manufacturing prowess and supportive policies is anchoring its leadership in the clean energy sphere.
With the shift in stance by the Trump administration towards climate change, China now leads in global investment in clean energy, channelling substantial amounts into projects across solar and wind power, EVs and battery production.
Over the last two decades, China has achieved stunning growth in its installed renewable capacity, far outpacing the rest of the world. It currently produces 31% of its electricity from renewable sources including wind, solar, hydroelectricity, and geothermal. While the country is still heavily reliant on coal, estimates predict that by 2026 solar will overtake the fossil fuel as China’s leading energy source.
On this episode of Eco Money, Ivy Yin, Market Specialist for Energy Transition and Carbon at S&P Global shares her insight on whether China's financial and policy reforms are enough to push the world's biggest polluter towards dominance in renewables.
Presented by: Audrey Siek
Produced by: Yeo Kai Ting (ykaiting@sph.com.sg)
Photo credits: VCG / AP Photo
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