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Q1 2021: China’s climate pledges underscore country’s renewables narrative

  • Multi Asset
  • Energy
  • China & Hong Kong

Responsible for around 28% of global emissions, China is the world’s biggest CO2 emitter. Even with the country’s strict COVID-19 lockdown in 2020, bringing entire industries to a standstill, “domestic coal production was 3.84 billion tonnes, a relatively high level over the past few years”, a former VP at Beijing Zhong Mei Times Science & Technology Development Co Ltd told Forum.

But the country is also the global leader and biggest investor in clean energy, with a capacity of around 895GW in 2020, followed by the US with 292GW.6https://www.statista.com/statistics/267233/renewable-energy-capacity-worldwide-by-country/ Third Bridge Forum closely monitors trends pertaining to China’s renewable energy industry, with Interviews in Q1 2021 focusing on hydropower and wind power. 

With an abundance of mountain valleys and large rivers, China is the world’s largest producer of hydroelectricity, accounting for about 18% of total energy consumption. In addition to projects due to come online in the next few years, the country’s recently pledged climate target of carbon neutrality by 2060 will further boost the market. 

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