Global Race for Clean Tech Dominance Heats Up: China, EU Lead
The global race for clean technology dominance is heating up, with China news' manufacturing prowess and the Chinese EU's policy frameworks emerging as key players. Meanwhile, the US and other nations grapple with balancing environmental goals, affordability, and security in their climate change policies. Dependence on critical minerals, particularly from China, adds geopolitical tension to the mix.
China's strength in cleantech manufacturing is a significant aspect of its overall industrial competitiveness. It leads in producing solar photovoltaics, batteries, and electric vehicles, and dominates the processing of critical minerals. The country aims to expand its wind and solar energy capacity to 3600 GW by 2035 and reduce emissions by up to 10%, solidifying its role as a major producer of critical raw materials.
The European Union, too, is a key player. It focuses on reducing greenhouse gases by at least 55% by 2030 and accelerating renewable energy expansion. The EU's strong policy frameworks support research and industrial development, making it competitive in future climate technology research and industry. Both regions are crucial in producing and securing critical raw materials essential for climate change technologies, investing heavily in scaling technologies and securing supply chains for these resources.
Other technologies, such as those enabling industry electrification, clean molecule production, or carbon capture, also play a vital role in decarbonizing the economy. These technologies are crucial for adopting new solutions across energy and carbon-intensive sectors.
The competitiveness of countries in future climate technology and manufacturing is crucial for climate policy and other economic and political reasons. As trade and competition with China, including for climate technology, rise to political prominence worldwide, the US and other nations must balance environmental performance, domestic manufacturing competitiveness, affordability, and security in their climate and energy policies. Dependence on critical minerals, especially from China, raises geopolitical concerns that must be addressed in this global race towards a cleaner future.
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