China is moving towards becoming a global leader in renewable technology as the US pulls away, a new report has said. China is the world’s biggest emitter of greenhouse gases and still invests in coal but in recent years it has become the largest investor in domestic renewable energy. The country is now on track to lead international investment in the sector, according to the report by the Institute for Energy Economics and Financial Analysis (IEEFA). “As the global transition toward renewables gains pace and as battery storage and electric vehicles technologies pick up momentum, China is setting itself up to dominate these sectors globally over the next several dec ades of this century,” said IEEFA. IEEFA identified a record high spend of more than US$44bn by China on international takeovers and projects worth more than $1bn – a 38% year-on-year growth.
Guardian 10th Jan 2018 read more »
Carbon Brief 9th Jan 2018 read more »