Chinese Firms and Climate Action
To achieve climate and decarbonisation commitments, governments must be open to green technology and investment from world-leading Chinese firms.
An estimated $5 trillion of investment is needed annually to reach Paris Agreement climate goals, raising the question of how to fund this initiative.
- Countries with current account deficits have two options: import savings from countries with current account surpluses, such as China, or endure higher interest rates and less domestic consumption to generate domestic savings.
- Countries blocking Chinese foreign investment on political grounds may face inferior technology and higher costs.
The world must increase the speed and ambition of its green transition.
Autor's resume: Chinese firms help climate action.
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