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China’s first-ever national energy law came into force this week, aiming to turbocharge the country’s shift to renewable power and strengthen global climate efforts. The law, effective January 1, 2025, prioritizes energy security while accelerating green innovation—a move experts say aligns with COP29’s landmark agreements on tripling climate funding for developing nations and expanding carbon markets.
In a BizTalk episode, CGTN’s Michael Wang sat down with UN China coordinator Siddharth Chatterjee and KPMG China ESG head Daisy Shen to unpack how this policy could reshape global sustainability.
Why it matters: China accounts for over 30% of the world’s renewable energy capacity. Chatterjee called the law a \"game-changer for South-South cooperation,\" noting its potential to streamline climate investments in solar and wind projects across Asia and Africa. Meanwhile, Shen highlighted rising ESG adoption among Chinese firms, with over 60% now integrating sustainability metrics into their operations—a trend she says will \"redefine global supply chains.\"
The timing couldn’t be better: Fresh from COP29’s $4 trillion climate finance pledge, experts argue China’s green transition could unlock new public-private partnerships. As Shen put it: \"When the world’s second-largest economy commits to decarbonization, everyone wins.\"
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Why it matters: China accounts for over 30% of the world’s renewable energy capacity. Chatterjee called the law a \"game-changer for South-South cooperation,\" noting its potential to streamline climate investments in solar and wind projects across Asia and Africa. Meanwhile, Shen highlighted rising ESG adoption among Chinese firms, with over 60% now integrating sustainability metrics into their operations—a trend she says will \"redefine global supply chains.\" 
The timing couldn’t be better: Fresh from COP29’s $4 trillion climate finance pledge, experts argue China’s green transition could unlock new public-private partnerships. As Shen put it: \"When the world’s second-largest economy commits to decarbonization, everyone wins.\" 
