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China’s striking advances in green technology

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By illuminem briefings

· 2 min read

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

🗞️ Driving the news: China's BYD has surpassed Tesla as the world's top-selling electric vehicle brand in early 2024
Additionally, China achieved a significant milestone in renewable energy, with its renewable capacity (mainly solar, wind, and hydro) reaching about 50% of its total generation capacity in 2023, overtaking coal for the first time

🔭 The context: China's emergence as a leader in renewable energy and electric vehicles marks a significant shift in the global energy landscape 
China is the world's largest carbon dioxide emitter, contributing 31% of global emissions in 2022

🌍 Why it matters for the planet: China's shift towards renewables and electric vehicles can substantially contribute to reducing global greenhouse gas emissions 
This transition is crucial in the global pursuit to meet the targets set in international agreements like the Paris Agreement and can serve as a model and catalyst for other countries, especially developing nations, to adopt similar strategies

⏭️ What's next: China is expected to exceed its solar and wind energy capacity targets ahead of schedule and may play a more assertive role in global climate negotiations

📈 One stat: China's share of EVs sold in Europe reached 8% and is projected to rise to 15% by 2025, underscoring its growing influence in the global clean tech market

Click for more news covering the latest on energy


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