Beijing has shifted from being the world’s worst polluter to the biggest power everyone’s now counting on to steer the fight against global warming.
In recent years, China has been pouring cash into low-carbon industries at home, and taking a leadership role on climate change agreements abroad.
China plans to spend over US$361 billion on renewable energy by 2020, and has made low-carbon growth one of its top priorities. Last year it invested US$88 billion in renewable energy, the highest amount in the world, and spent a record US$32 billion on renewable projects abroad.
China has promised to cut its carbon emissions by 40 to 45 per cent from 2005 levels by 2020 and reach peak emissions by 2030 or earlier. Experts believe the goal is within China’s reach.
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