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illuminem summarises for you the essential news of the day. Read the full piece on World Economic Forum or see below:
🗞️ Driving the news: China is leveraging policy stability, community trust, and multistakeholder engagement to accelerate its renewable energy transition
• In 2023, China added 297.6 GW of new renewable capacity—63% of the global total—and now accounts for nearly half of global renewables employment
• Its evolving strategy includes moving from subsidies to market-based mechanisms and integrating renewables with social and economic development initiatives
🔭 The context: Since the Renewable Energy Law of 2006, China has actively promoted clean energy through feed-in tariffs and state-backed incentives
• In recent years, reforms have shifted toward market-driven instruments such as Green Electricity Certificates and Power Purchase Agreements (PPAs)
• At the local level, community-focused models—like agrivoltaics in Hebei and green manufacturing in Malaysia—have demonstrated how energy projects can drive rural revitalization and local employment
🌍 Why it matters for the planet: China’s scale and policy-driven approach offer a replicable framework for other nations aiming to balance renewable energy growth with economic and social inclusion
• Trust-building with communities, transparent standards, and integrated land-use models enhance public acceptance and long-term viability
• However, the global adoption of such strategies hinges on adapting to local contexts and ensuring sustainability remains central
⏭️ What's next: By June 2025, China plans to fully transition to a market-based renewable pricing system, phasing out feed-in tariffs
• The World Economic Forum has launched a coalition with Chinese stakeholders to promote “Net Zero, Trusted, and Circular” development models with goal to deploy international sustainability standards, expand responsible infrastructure principles, and create inclusive economic value chains
• These actions are expected to shape global benchmarks for equitable energy transition
💬 One quote: “Transparency, community engagement and cross-cultural management are key to building trust.” – Zhang Xun, Accenture
📈 One stat: 45.5% – China's share of global employment in the renewable energy sector, representing 7.4 million jobs as of 2023
See here detailed sustainability performance of companies heavily involved in China's renewable expansion like Goldwind and JinkoSolar.
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