On Sept. 22, 2020, Chinese President Xi Jinping made an unexpected announcement in an address to the United Nations. He declared China would “aim to have CO2 emissions peak before 2030 and achieve carbon neutrality before 2060,” a level of ambition that surprised many international climate advocates.
China’s net-zero goal has strengthened the financing landscape for the country’s climate tech sector. Driven in part by the regulatory crackdown on Internet companies, investors in China have sought to align their portfolios with government policy. This trend has provided tailwinds for electric vehicle makers and clean energy startups, which Beijing views as critical not only for its climate goals but also for its strategic and economic interests.
The divergent fates of high-tech sectors in China
Experts on Chinese climate tech point to Xi’s speech as a turning point for the…