China is being encouraged to increase its investments in advanced clean energy technologies, such as energy storage, hydrogen production, and sustainable aviation fuel. This recommendation comes after a significant growth in wind and solar energy.
Executives at the BloombergNEF Summit in Shanghai emphasized that the country's substantial funding in renewables and electric vehicles has positioned it to potentially reach its emissions peak earlier than the 2030 target. However, the rapid expansion has resulted in saturated supply chains, which are now impacting company profits and escalating international trade tensions.
The call for new investments reflects the urgent need to diversify and strengthen China's clean energy sector as it addresses these challenges.