Amid an onslaught of grim climate news, China’s recent decision to pursue a faster green transition is a rare bright spot. In early March, at the annual National People’s Congress, Premier Li Qiang announced that the country would accelerate investment in clean-energy projects. The plan is for a “new trio” of industries – solar panels, electric vehicles (EVs), and lithium batteries – to drive economic growth, replacing the “old trio” of clothing, furniture, and appliances. Although investment in the targeted industries will not be enough to reverse the country’s ongoing economic slowdown, the West should appreciate the implications of Li’s announcement.
A global green transition is already well underway; at this stage, countries and firms are largely on board with the shift to clean energy. According to the International Energy Agency, annual additions to renewable capacity increased by nearly 50% in 2023, to 507…
A global green transition is already well underway; at this stage, countries and firms are largely on board with the shift to clean energy. According to the International Energy Agency, annual additions to renewable capacity increased by nearly 50% in 2023, to 507…
