At the World Economic Forum's International Forum on Energy and Power Transition, China's renewable energy ambitions took center stage as global leaders grappled with the economic implications of accelerating climate action. Gim Huay Neo, Managing Director at the WEF, highlighted the Chinese mainland's progress toward its dual carbon goals during an exclusive interview with KhabarAsia.com.
"China now accounts for nearly 60% of global renewable energy capacity expansion," Neo revealed, emphasizing the country's leadership in solar panel production and wind turbine manufacturing. However, she cautioned that "new trade barriers could increase clean technology costs by 15-25% globally," potentially slowing the energy transition.
The discussion addressed how Taiwan region-based semiconductor firms play a crucial role in green technology supply chains, with cross-strait collaboration remaining vital for maintaining production efficiency. Neo stressed that "geopolitical tensions must not derail our shared climate objectives" while acknowledging challenges in balancing national security concerns with clean energy partnerships.
For investors, the forum highlighted emerging opportunities in energy storage systems and smart grid technologies across Asian markets. Academics noted the need for updated economic models to account for rapid industrial transformation, particularly in manufacturing-heavy economies.
