China's first solar-tidal photovoltaic power plant in Wugen Township of Wenling, east China's Zhejiang Province. (PHOTO: XINHUA)

By Li He & Qi Liming

Green and low-carbon economic transformation is the only way for countries to achieve sustainable development. Countries should follow the trend of scientific and technological reform and industrial distribution, promote the transformation and upgrading of their economy, energy and industrial structures through innovation, and explore a path of sustainable development featuring increased production, higher living standards and a sound environment.

Over one billion kW installed capacity of renewable energy

China is now the world's largest producer, consumer and investor in renewable energy. By the end of 2021, the installed capacity of renewable energy had exceeded one billion kW in China, accounting for about one third of the world's total. The country's power generation in the fields of wind, solar and biomass all rank first in the world.

China has formulated the "1+N" policy system. "N" includes 37 implementation plans, involving energy transformation, energy-saving, circular economy and, green consumption. Taxation, finance, and statistical assessments are also included.

In recent years, China's investment in renewable energy projects in countries and regions along the Belt and Road Initiative has increased, and a number of green, low-carbon and sustainable clean projects have been implemented to help these countries and regions in need. This promotes advanced green energy technologies and contributes green solutions to high-quality cooperation.

"As a responsible developing country, China takes addressing climate change as an inherent requirement of its own sustainable development," said Xie Zhenhua, China's special envoy of climate change.

New green products entering daily life

Through innovation, new green products have entered people's lives and play an important role in carbon reduction.

New energy intelligent vehicles have reached a higher comfort level, and autonomous driving capabilities have gradually improved in China. In the first half of this year, the market share has reached nearly 20 percent, far beyond expectations.

Green innovation has accelerated the digitalization of high-carbon industries such as traditional energy industries, which has brought many new opportunities in addition to carbon reduction. As the world's largest consumer market for idle goods, more than one million things are sold on second-hand e-commerce trading platform Ordinary People (Xianyu) every day, according to Alibaba.

AutoNavi and Beijing Municipal Commission of Transport jointly launched the MaaS platform, guiding users to take buses, subways, and other green ways to travel, which has encouraged 4.2 billion green trips and completed 24,500 tons of carbon emission reduction transactions on AutoNavi.

Technical transformation is the ultimate solution to green transformation

Fundamentally speaking, technical transformation is the core of green transformation. To replace the original high carbon technology with low-carbon or zero-carbon green technology is the fundamental solution to green transformation. Through innovation, a significant reduction in the cost of addressing climate change issues can be achieved.

The cost of photovoltaic power has fallen by 80-90 percent over the past decade, with the potential to fall further. The reduction in costs brought by innovation has greatly enhanced the confidence and ability to deal with climate change.

Green and low-carbon technological innovations, and the use of more economic and scientific means will be applied to reduce pollution and carbon emissions.

"New clean technologies and markets are developing, including zero carbon steel, zero carbon finance, zero carbon buildings and zero carbon cities, as well as carbon technologies and products with the recovery of carbon dioxide," said Steven Guilbeault, Canada's Minister of Environment and Climate Change.