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Tue Jan 11, 2022, 06:40 AM

Study forecasts China investment of $75 trillion in carbon neutrality

NEW YORK – China is projected to invest the equivalent of US$75 trillion (487 trillion yuan) in carbon neutrality financing over the next 30 years, representing five times its 2020 national output, according to a December 2021 study by a consortium of government, academic and private-sector experts.

The 200-page report, which encompasses the whole range of carbon-neutral technology from hydrogen-fuel vehicles to nuclear electric power, was issued by the Research Group of the Green Finance Committee of China Society for Finance and Banking under the direction of Ma Jun, president of the Beijing Institute of Finance and Sustainability, an academic unit under the Beijing Municipal Bureau of Financial Work.

The Green Finance Committee of China Society for Finance and Banking was set up by the PBoC and regulators in April 2015.

Ma was previously a member of the People’s Bank of China’s monetary policy committee, chief economist of the Research Bureau of the PBoC and head of China economics and strategy at Germany’s Deutsche Bank. The report’s 40 co-authors include economists at Chinese as well as Western financial institutions.

The $75 trillion projection for green investments includes the entire array of high-tech industries that will gradually replace China’s smokestack industries with their high level of energy consumption and carbon emissions. The proposed scale of investment dwarfs the most ambitious Western estimates, including a $16 trillion estimate by Goldman Sachs in a widely-cited January 2021 report to clients.

https://asiatimes.com/2022/01/china-projects-75-trillion-in-carbon-neutrality-investment/

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Reply Study forecasts China investment of $75 trillion in carbon neutrality (Original post)
Klaralven Jan 11 OP
hunter Jan 11 #1
Johnny2X2X Jan 11 #2
Klaralven Jan 11 #4
Midnight Writer Jan 11 #3

Response to Klaralven (Original post)

Tue Jan 11, 2022, 09:16 AM

1. China is continuing research on novel nuclear power plant designs...

... based directly on research that was discontinued in the West in favor of hybrid natural gas / "renewable" energy systems that are never going to be carbon neutral.

There's enough natural gas in the ground to destroy whatever is left of the natural environment as we know it. Like other fossil fuels it's best we leave it in the ground.

Hydrogen is a terrible fuel since it has a low energy density and is difficult to contain but it can be used to make much less squirrelly carbon neutral fuels such a dimethyl ether (DME) or synthetic jet fuel from atmospheric or oceanic carbon dioxide.

Nuclear power is the only energy technology capable of displacing fossil fuels entirely and it seems China recognizes that.

I wouldn't be surprised if China becomes a major exporter of mass-produced modular reactors.

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Response to hunter (Reply #1)

Tue Jan 11, 2022, 09:21 AM

2. Agree with all of this

And the new reactor designs are much safer. Nuclear can be done safely, it's a big part of a clean energy future. Solar and wind are also a huge part. Good to hear China wants to lead on this because the US political system is preventing us from leading like we should right now.

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Response to hunter (Reply #1)

Tue Jan 11, 2022, 10:30 AM

4. Hydrogen is useful for making synthetic jet fuels, reducing ores, and as a chemical feedstock

It is particularly needed to replace petroleum as a chemical feedstock and source of process heat.

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Response to Klaralven (Original post)

Tue Jan 11, 2022, 10:26 AM

3. This is why we are going to fall behind China economically.

They make long term investments. They are on track to control energy technology.

In our business model, investors are looking for immediate profits, and are not coordinating to build new opportunities for long-term gain.

I'm not endorsing China-style economics. I am pointing out that we need to better our own game if we want to be competitive in the long run.

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