Green high-tech champions slow to take up China opportunitiesDeveloped world countries with the reputation of being green technology leaders are falling behind in the huge new market for green goods and services opening up in China.
"Prepared to ride the Green Dragon?", a new report from WWF, estimates that companies with environment friendly solutions are looking at market possibilities ranging from between USD$1.5 (€1.1) and USD$1.9 (€1.4) trillion to be invested in China in the period up to 2020.
The massive investments planned in environmental technology will make China a hub for development of the low cost environmental solutions necessary in a 21st century where environmental constraints will increasingly guide the global economy, notes the report.
"Western entrepreneurs and stakeholders with access to green solutions now have an unprecedented opportunity to invest in and grow with the expanding Chinese market, and thereby position themselves for an emerging, new global economy" said Bruge Brende, Managing Director of the World Economic Forum, and vice-chair of The China Council (CCICED).
But a case study of Norway shows that the Western rhetoric of green investing in China is outpacing the reality,
"In spite of high goals for environmental cooperation with China, Norway's current engagement is fragmented and dominated by small and medium-sized enterprises. OECD countries need to scale up and aim for ambitious partnerships with China in fields where they have leading green technology;" said Rasmus Reinvang of WWF Norway, lead author of the report.
The Chinese government has set ambitious targets to move towards a clean-energy economy, including a 20% reduction in energy intensity by 2010, and a doubling of renewable energy to 15 % by 2015. China is particularly keen on developing its small-scale hydropower capacity, a market open to foreign investment, from 2006 levels of 40 Gigawatts (GW) to 125 GW by 2020.
The Chinese goal to quintuple wind power production to 30 GW by 2020 will be reached already by 2012 with the current growth rates in the Chinese wind power sector. While global renewable energy investments have been falling due to the credit crunch, investments in China are expected to increase this quarter to US$3.5 billion and further strengthening China's wind sector.
"Deep sea off-shore wind is an area where Sino-Norwegian cooperation could speed up commercialization of a whole new industry and contribute greatly to tackling global warming." Said Chen Dongmei, head of the Climate and Energy programme for WWF in China.
- The report forms part of WWF抯 揅hina for a Global SHIFT� Network Initiative, which seeks as one of its primary goals the promotion of win-win relationships between OECD countries and China for making China a driver for global sustainable development.
- The report, Prepared to Ride the Green Dragon, is available here.
Rasmus Reinvang, lead author and senior adviser, WWF: Tel.:+86 10 6522 7100 ext. 3903. Mob +86 1501 105 6093, email: email@example.com
Chris Chaplin, communications consultant, WWF China: Tel: +86 10 6522 71 00 ext 3813, email: firstname.lastname@example.org
Karin Wessman, leader of WWFs China for a Global SHIFT Network Initiative, Tel: +86 10 1343 925 88 18, +46 768 378 368, email: email@example.com
About WWFWWF is one of the world's largest and most respected independent conservation organizations, with almost 5 million supporters and a global network active in over 100 countries. WWF's mission is to stop the degradation of the earth's natural environment and to build a future in which humans live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. www.panda.org/media for the latest news and media resources