Chinese equity investment in solar, wind and coal power projects in Belt and Road countries has surged from 2014 to 2019, with planned capacity up more than tenfold compared to the previous five-year period, environmental group Greenpeace said. The Belt and Road initiative is a Beijing-led program to boost economic and trade ties in dozens of countries in Asia, Europe and beyond, mostly through investments in energy and infrastructure. According to a study published by Greenpeace on Monday, China’s wind and solar power investments in Belt and Road countries amounted to 12.6 gigawatts (GW) since the initiative was launched in 2014. It had invested in just 0.45 GW of solar prior to 2014. The country has also invested in 67.9 gigawatts of new coal-fired power in Belt and Road countries since 2014, but Greenpeace climate and energy campaigner Liu Junyan said the increase in the share of renewables should be welcomed. “Chinese investors’ ratio of coal to solar is now the same at home and abroad – both are still six-to-one (in favor of)coal, unfortunately, but I’m amazed to see what five years of equity investment in solar made possible,” Liu said. China has been building dozens of new renewable energy projects at home to reduce the share of coal in its total energy mix to 59% by the end of last year. It has also been encouraging its existing coal-fired power plants to install ultra-low emissions technology.
Reuters 30th July 2019 read more »
CO2 emissions in China may peak up to a decade earlier than the nation has pledged under the Paris Agreement, according to a new study. A new analysis published in Nature Sustainability, a team of researchers has shown that as China’s burgeoning cities become wealthier, their per capita emissions begin to drop. According to their analysis, this trend could in turn trigger an overall dip in CO2 levels across the nation, and mean that despite the current target for emissions peaking by 2030, they may in fact level out at some point between 2021 and 2025.
Carbon Brief 29th July 2019 read more »