China is fast becoming a global leader in renewable energy and clean technologies, being both a huge market and a significant investor, the GLOBE 2014 conference heard.
“China will invest annually over $80 billion in renewable technologies by the year 2020 to achieve 484 gigawatts of power capacity,” Jonathan Woetzel, director at McKinsey & Co. and co-chair of the Urban China Initiative, told delegates to the biennial international environment business conference and trade show, held in Vancouver in March.
Woetzel, who moderated a GLOBE morning session titled “Spotlight on China: Our Shared Future,” said China will invest $6.5 billion annually just in LED lighting technology by the year 2015 – 24 times the amount invested by the country in 2009.