Key facts
- China hosts 49% of the world's clean industrial plants, counting operating and under-construction facilities, per the Mission Possible Partnership.
- China drew $45 billion of energy transition investment in the year, the Mission Possible Partnership reported.
- 23 of 36 industrial decarbonization projects reaching final investment decision worldwide were in China, the group said.
- China's installed wind and solar capacity exceeded 2 billion kW at the end of September, the National Energy Administration reported.
China is home to 49% of the world's clean industrial plants, according to a report by the Mission Possible Partnership, a group that tracks decarbonization in hard-to-abate sectors including cement, steel, aviation fuel, methanol and aluminum. The figure covers plants in operation and under construction.
The group said China accounted for $45 billion in energy transition investment in the year and that 23 of 36 industrial decarbonization projects reaching final investment decision worldwide were in China, a record number globally. Its chief executive said the pace needed to rise from tens to hundreds of financed plants a year.
China's National Energy Administration reported that installed wind and solar capacity passed 2 billion kW at the end of September, with 170 million kW added in the first nine months of the year. The body also noted that China remains the world's largest coal consumer, relying on the fuel for nearly 50% of its power generation, and builds the most new coal capacity.