Low-carbon energy contributed 40% to China’s economic growth last year, climate think tank the Center for Research on Energy and Clean Air has reported, noting that without this boost, China’s GDP would have grown at a more modest 3% than the actual 5.2%.
Per the think tank’s calculations, low-carbon energy projects contributed some $1.6 trillion to the country’s GDP last year, which was more than the contribution of any other sector. The focus was on EVs, solar power, and batteries, the Center for Research on Energy and Clean Air said.
Investments in low-carbon energy also went up by 40% in China last year, the organization also reported, with the total reaching the equivalent of $890 billion. This growth in investment was in fact 100% of total investment growth across industries in China, CREA noted.
Commenting on its findings, the Center for Research on Energy and Clean Air noted that this growing importance…
