The 15th Summer Davos Forum was held in Dalian from June 25th to 27th.During the forum,Espen Mehlum,the General Manager of Energy Transformation Insights and Regional Accelerated Development at the World Economic Forum,gave high praise to China’s energy transformation in an interview with China News Service,stating that this transformation is crucial for both China itself and the world’s sustainable development.
According to Malcolm,on June 18th,the World Economic Forum released the 2024 report”Promoting Effective Energy Transition”.This report uses the Energy Transition Index to evaluate the current performance of energy systems in 120 countries,focusing on how they balance fairness,safety,and environmental sustainability,and assessing their preparedness in energy transition.Among them,China ranks 17th and performs the best among Asian countries.
“The progress China has made in energy transformation over the years is first and foremost due to good planning.China’s’Five Year Plan’has played an important role,and the Chinese government has been supporting the development of solar energy,wind energy,battery energy storage,electric vehicles,and other fields,which has benefited China in many ways,”said Malcolm.
Malcolm stated that firstly,China’s energy transformation has created many green employment opportunities.From 2019 to 2022,China’s energy industry created approximately 2 million green employment opportunities.Secondly,it helps China reduce its carbon emission intensity,which is beneficial for addressing global climate issues.Thirdly,it also helps global consumers benefit from these technologies at reasonable costs.The significant progress China has made in energy transformation is crucial for sustainable development in both China and the world.
Malcolm pointed out that currently,the global energy market,supply chain,and technology value chain are interrelated,and cooperation among countries is very necessary.Open trade is beneficial for everyone,and many countries hope to create technological competitive advantages and green employment,achieving win-win outcomes.
“In the long run,the market needs more clean technologies,including solar energy,wind energy,battery storage,nuclear energy,green hydrogen energy,and more carbon capture technologies.Countries can compete in a healthy manner and share clean technologies and development opportunities together,”said Malcolm.
Malcolm also stated that approximately 23%of the world’s energy consumption structure today is electricity and 77%is fuel,which requires good policy measures to help with energy transformation,such as carbon pricing and carbon market mechanisms.”China has established the world’s largest carbon market,which can effectively stimulate the use of renewable energy,which is very important.Many countries have adopted the mechanism of renewable energy auctions to advance climate goals.”
He emphasized that in recent years,people’s interest in nuclear energy has reignited,and some countries,such as the United States,France,and others,are investing in renewable small modular reactors because they are not as expensive as traditional nuclear energy,occupy less land resources,and produce less nuclear waste.
“It is very important to observe the next stage of innovation and investment in China’s energy industry,as it is crucial for both China and the world.Many energy technology innovations come from China.Based on economic strength and energy demand,China’s development may reshape the global energy market.”