China best placed to profit from the world’s move towards a lower carbon future, says HSBC report

Name: Alaska summit: China tells US not to underestimate Beijing’s will to safeguard national dignity
Uploaded: 2021-03-31T10:54:28.000Z
Duration: 4 min 7 s
Description: Alaska summit: China tells US not to underestimate Beijing’s will to safeguard national dignity

It is expected to compete with the US for leadership in deployment of low-carbon technology

China’s unmatched production scale in nuclear reactors and batteries means it enjoys unique cost advantages, according to the analysts

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Wind turbines and solar panels near Fuxin, Liaoning province, China, Photo: Bloomberg

Eric NgandYujie Xue

Published: 6:54pm, 31 Mar 2021Updated: 6:59pm, 31 Mar 2021

China, a dominant force in the manufacture of clean-energy equipment, is best placed to profit from the world’s drive towards decarbonisation, according to research by HSBC.

The bank assessed 77 countries on their resilience to climate risks based on 49 factors including their move away from fossil fuels, adaptation to climate change and capacity to profit from low-carbon technology deployment.

China ranked 24th overall when it came to its resilience to climate risks.

It is expected to compete with the US for leadership in the last category, which takes into account the ease with which a country’s industrial base switches towards green economy opportunities, endowment of commodities needed for low-carbon technology deployment, the number of companies establishing climate policies and their level of innovation.

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Alaska summit: China tells US not to underestimate Beijing’s will to safeguard national dignity

“Overall, we find China best-placed to make profits as the world moves towards a lower carbon future, followed by France,” said HSBC analysts Ashim Paun, Lucy Acton and Paul Bloxham in a report published on Monday.