According to the results of a study conducted by BloombergNEF, it became known that the Celestial Empire is the largest investor in the world’s alternative energy. During 2022, China’s contribution was $ 546 billion, which is four times more than the United States — $ 141 billion. The second place in investing in clean energy ($ 180 billion) was taken by the European Union.
In a BloombergNEF report it is emphasized that low-carbon production is dominant in China. Contribution to it exceeds 90% of $79 billion in investments in this industry. This was stated by Antoine Wagner-Jones, head of trade and supply chain research at BloombergNEF.
China has managed to create maximum conditions for the production of devices such as solar panels and batteries.
In the United States and Europe, competitions for the title of leader in environmental protection are increasing. The United States is currently implementing the Inflation Reduction Act. It provides for a $369 billion subsidy to U.S. producers to counter China’s dominance. These funds will be used to produce clean energy in the United States.
To recap, since October 2023, the UK government has banned the distribution of non-recyclable plastic products. We are talking about plates, trays and sticks for balloons. In this way, government officials intend to prevent environmental pollution.