February 27, 2017 Read More →

How China Became the World’s New Climate Leader

From China City Weekend:

In 2016, China increased its foreign investment in renewables by 60 percent to reach a record $32 billion, according to the Institute for Energy Economics and Financial Analysis. That included 11 new overseas investment deals worth more than $1 billion each. China also poured money into the BRICS Development Bank, which in 2016 approved its first round of loans, all for clean energy projects.

Meanwhile, the average price of solar panels in China dropped about 30 percent last year. There are remote islands in Indonesia, for example, which have received electricity for the first time, thanks to joint Chinese investment in affordable clean energy.

China is planning its future foreign investment along two major initiatives: One Belt One Road (OBOR), which entails infrastructure and technology investments along the ancient Silk Road trade route through Asia, Europe, and northern Africa and South-South Cooperation, a UN framework that encourages joint projects among countries in the Global South.

The Climate Pivot: How China Became the World’s New Climate Leader

Posted in: IEEFA In the News

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