China is winning the clean industry race. Can Europe catch up?

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: China is consolidating its position as the world's leading clean industrial power, securing 23 of 36 major clean industrial projects that obtained financing globally last year
• Worth more than €40 billion, these investments strengthen China's influence over emerging clean technology supply chains and could reshape the geography of manufacturing, jobs and geopolitical power

🔭 The context: China hosts 49% of all clean industrial plants already operating or under construction worldwide
• It also accounts for more than 90% of global capacity for lower-emissions methanol production and over 40% of cleaner aluminium capacity
• Meanwhile, emerging economies across Africa, Asia and Latin America are attracting investment in renewable-powered manufacturing, with six new projects securing €4.7 billion over the past year, exceeding the €4.3 billion invested in developed economies

🌍 Why it matters for the planet: The expansion of renewable-powered industry, low-carbon fuels and cleaner manufacturing could accelerate global industrial decarbonisation
• However, the concentration of clean technology production in China also raises questions about supply-chain dependence, access to technology and how the economic benefits of the energy transition will be distributed

⏭️ What’s next: Europe is seeking to regain momentum through its Clean Industrial Deal, which aims to mobilise more than €100 billion, and proposed measures to accelerate factory approvals and demand for low-carbon European products
• Globally, more than 800 proposed clean industrial projects, representing around €4.3 trillion in potential investment, still lack financing
• Turning these plans into operational plants will be critical to determining the next phase of the clean industry race

💬 One quote: “This creates significant economic opportunities for China and could strengthen its geopolitical influence, particularly in emerging economies,” - Belinda Schäpe of the Centre for Research on Energy and Clean Air

📈 One stat: 23 out of 36 projects — the number of major clean industrial projects financed worldwide last year that were secured by China, representing more than €40 billion in investment.

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