Consumer confidence, which had reached a historic low, marked a spectacular rebound, returning to its average of the last twenty years.
Investments in green energy have grown rapidly over the past five years. Developed countries represent 50% of these investments globally and China 35%, according to data from the International Energy Agency (IEA) published on October 16, 2024 in its “World Energy Outlook 2024”. China stands out for a significant share of these investments in proportion to the weight of its economy in the world economy, particularly reported per capita.
Our analysis
Green energy investments by China are gaining more and more weight in its economy. It now controls most of the renewable energy value chain, from the refining of metals to the manufacturing of components through the storage of the energy produced, and thus exports massively. This dynamic is expected to continue in the years to come, with the Chinese president having pledged that his country will reach peak CO2 emissions by 2030.
The IEA report also highlights that the proportion of investments in the field of green energies still remains low in emerging countries outside China, despite the increase in their energy demand. The prices of clean energy are still too high and the incentives for their financing too limited. The contribution of developed countries to low-carbon global growth will be one of the main challenges of COP29.
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