“China for the last 15 years has made itself indispensable to other countries' green transition by inserting itself into the clean technology supply chains. China has turned itself into a climate juggernaut that is way out in front of the rest of the world.” —Sandy Garossino.
China is the largest emitter of greenhouse gases, 27 per cent of the world’s total, and it continues to expand its coal operations. For many in the fight against greenhouse gases that makes the Asian superpower a climate villain.
“If we all we do is look at coal and emissions, we are missing maybe the big story of our century. China has committed to hit peak emissions by 2030 and to hit net zero emissions by 2060. And it backed up that commitment with serious money,” Garossino said.
So, when it comes to China, there really are two sides to the story, said Vina Nadjibulla, vice-president of Research and Strategy at the Asia Pacific Foundation of Canada. On the plus side, is that Chinese investment has made its green technological advancements affordable for the rest of the world. In the developing world today, oftentimes renewable energy is the cheapest option, Nadjibulla said.
“The dark side of the story is that China did this through subsidies and through artificially lowering prices such that (the) solar industry in the US and European Union was wiped out.”
The U.S. Inflation Reduction Act, and other efforts in Europe are trying to make sure the West doesn’t get wiped out when it comes to EVs or batteries, Nadjibulla said.
China’s Power Shift is the focus of today’s episode of Mortal Giants, with host Sandy Garossino and global affairs expert, Vina Nadjibulla.
LISTEN HERE TO EPISODE 5, POWER SWITCH
Look for Mortal Giants here on CNO or Apple or wherever you listen to podcasts.
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