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• COVER STORY @ green | January-February . 2025
Where are we at ?
February 2025 : The Energy Transition has been postponed !
OECDTHE energy transition is on the back burner in the United States . Europe is in a state of flux – policymakers are attempting to keep the green flag flying , but citizens are tired of escalating clean energy costs and its inflationary effects .
Elected representatives from the various European green parties are being voted out of office , and their voices are becoming increasingly isolated .
CHINA In China , coal and renewables seem to compete , and coal is clearly winning ( see Figure 1 ). The Chinese energy paradox is equally fascinating and strategic .
Coal-fired power plants are being commissioned at an alarming rate across the country , and the cheap power from these environmentally unfriendly giant energy plants is enabling electric vehicles and photovoltaic panels ( solar
THOTSPOT
BY DR KENNETH PEREIRA
Dr Kenneth Pereira is the Founder and Managing Director of Hibiscus Petroleum
Figure 1 : Evolution of Total Energy Supply in China since 2000 Source : International Energy Agency
( https :// www . iea . org / countries / china / energy-mix )
panels ) to be manufactured in large numbers at internationally competitive prices .
The electric vehicle industry in China is the largest in the world . It accounted for approximately 58 per cent of global production in 2023 . By October 2024 , China ’ s share of the global electric vehicle market reached 76 per cent ( 14.1 million units ), with about 69 per cent of those sales taking place in China .
It is important to note that the most prominent European automobile brands have also set up their manufacturing sites in China alongside their Chinese competitors .
INDIA India has declared an objective of achieving developed nation status by 2047 . At the same time , it also recognises the dual challenge and opportunity posed by rising global temperatures and climate risks . To tackle climate change , India has set an ambitious target of becoming net zero by 2070 .
Additionally , its 2030 Nationally Determined Contributions ( NDCs ) under the United Nations Framework Convention on Climate ( UNFCCC ) highlight five key objectives :
• Promoting sustainable lifestyles under the “ LIFE ” initiative , reducing emissions intensity to GDP by 45 per cent from 2005 levels .
• Achieving 50 per cent electric power capacity from non-fossil fuel sources .