China focuses on UK low-carbon investment

China’s focus on low-carbon is not surprising, says Richard Black

By George Smeeton

info@eciu.net

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China’s focus on low-carbon business deals in the UK during the State Visit of President Xi this week, including in nuclear, offshore wind, biomass and low-emission transport, should not be surprising, says Richard Black, Director of the Energy and Climate Intelligence Unit (ECIU).

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“The fact that China is putting so much of its UK investment into low-carbon technologies isn’t a surprise. China is already the world’s biggest market for low-carbon goods and services; a few years ago it was famously building one coal-fired power station every week, now it’s building the equivalent amount of clean energy capacity every week,” he said.

“Pushed by climate change concerns and pulled by the lure of a rapidly growing global market, China is set to dominate both the politics and the business of the world's low-carbon transition, and it’s clear there are opportunities on offer to British companies if they and the Government are inclined to grasp them."

Deals made this week include:

  • Investment in new nuclear power in the UK (£5.4bn to £8.2bn);
  • Investment in offshore wind project in Scotland;
  • Investment in low-emission transport including electric buses (up to £2bn) and zero-emission capable taxis (£50m);
  • Investment in a biomass power project in Wales (£2bn).

The ECIU and chinadialogue this week published a report on China’s increasingly ambitious and committed approach to climate change and low-carbon development.