China has made huge progress in the green transition over the past decade, according to Dr. Carl F. Fey, a professor of strategy at BI Norwegian Business School.

Dr. Carl F. Fey along with other leading experts from both abroad and China have gathered in the resort town of Boao, located in southern China's Hainan province, to participate in the Boao Forum for Asia's annual conference. Held from March 26 to 29, the focus of this year's conference is globally shared challenges, concerns and responsibilities, and how to further foster cooperation and development between Asia and the rest of the world.

Dr. Carl F. Fey, a professor of strategy at the Norwegian Business School, chairs a panel session on March 27 during the Boao Forum for Asia. [Photo courtesy of Boao Forum for Asia]

In an interview with China.org.cn during the Boao Forum for Asia, Dr. Fey stated, "China has really been making impressive progress when it comes to the green transition and that's where China and countries like Norway, where I'm from, could collaborate in the future."

Reflecting on these advancements, Dr. Fey noted, "If you were asking me the same question 10 years ago, I would say China is not doing very well in terms of green development. But now, China has placed a significant focus on green transition technologies."

A report titled "Striding Towards Zero-Carbon Electricity Era and Bolstering Green Development in Asia" was released during the forum, highlighting China's role in the global energy revolution, especially in reducing the global cost of wind and solar power production. The report emphasizes China's technological and cost advantages, along with its long-term stable policies with renewable energy.

The report notes that China's production of critical components such as photovoltaic modules, wind turbines and gearboxes accounts for roughly 70% of the global market share. In 2022, China's exports of wind power and photovoltaic products collectively contributed to a reduction of approximately 2.83 billion tons in carbon emissions, representing about 41% of the global carbon reduction attributed to renewable energy sources during that same period.

Photo taken on March 27 showing an area dedicated to encouraging zero-carbon activities in Boao, south China's Hainan province. [Photo by Wang Yiming/China.org.cn]

Official data shows that China's exports of energy-saving, sustainable products, including lithium-ion batteries, photovoltaic products and new energy vehicles, reached 1.06 trillion yuan last year, marking a robust year-on-year increase of 29.9%.

Dr. Fey specifically pointed to China's leading position in solar cell exports as a testament to its commitment to green development. He expressed confidence that "through working on focusing more on new quality productive forces, which means innovation, China is going to make even further contributions on the green transition moving forward."

Citing examples such as the development of light railroads in Africa to promote collaboration and green efficiency in transportation, the professor also emphasized that through initiatives, such as the Belt and Road Initiative, "China has been sharing some of its green technologies with other countries."

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