The following article from Asia Times, written by David P Goldman, provides some indication as to China’s commitment to combating climate breakdown and the accompanying massive investment in low- and zero-carbon technology. This is “arguably the most ambitious investment program in economic history, designed to touch every sphere of China’s economic life.” Rather than demonizing China and imposing sanctions on its solar energy industry, Western countries should be closely cooperating with – and learning from – China in humanity’s shared struggle to prevent catastrophe.
China is projected to invest the equivalent of US$75 trillion (487 trillion yuan) in carbon neutrality financing over the next 30 years, representing five times its 2020 national output, according to a December 2021 study by a consortium of government, academic and private-sector experts.
The 200-page report, which encompasses the whole range of carbon-neutral technology from hydrogen-fuel vehicles to nuclear electric power, was issued by the Research Group of the Green Finance Committee of China Society for Finance and Banking under the direction of Ma Jun, president of the Beijing Institute of Finance and Sustainability, an academic unit under the Beijing Municipal Bureau of Financial Work.
Continue reading Study forecasts China investment of $75 trillion in carbon neutrality
