China hopes to dominate the next phase of green innovation

illuminem summarizes for you the essential news of the day. Read the full piece on The Economist or enjoy below:

🗞️ Driving the news: China is positioning itself to dominate emerging green technologies, including hydrogen production and carbon capture
• Building on its leadership in solar panels, batteries, and electric vehicles, China aims to leverage government subsidies and competitive markets to lead the next phase of the global green transition
• This effort aligns with its broader strategy to decarbonize and influence global supply chains

🔭 The context: Over the past decade, China has revolutionized green tech industries, reducing costs and scaling up production
• Its dominance in solar panel manufacturing has reshaped global markets, and it now seeks similar success in hydrogen energy and carbon capture
• These technologies are pivotal for addressing harder-to-abate emissions sectors like heavy industry

🌍 Why it matters for the planet: China’s advancements in green innovation could accelerate global decarbonization, but its control over supply chains raises concerns about geopolitical dependencies
• Widespread adoption of these technologies is crucial for meeting international climate targets

⏭️ What's next: As China scales up investments in hydrogen and carbon capture, other countries may ramp up their efforts to compete or diversify supply chains
• The pace of innovation and collaboration will determine how quickly these technologies become viable and widely adopted

💬 One quote: “Cheap Chinese technology is being rapidly rolled out across the world, helping to decarbonize electricity production, road transport, and more,” reports Gabriel Crossley

📈 One stat: China currently dominates global production of solar panels, batteries, and electric vehicles, controlling over 70% of supply chains in some cases

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