{"id":8943,"date":"2021-11-10T15:56:47","date_gmt":"2021-11-10T15:56:47","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=8943"},"modified":"2021-11-17T03:02:30","modified_gmt":"2021-11-17T03:02:30","slug":"new-cbbc-report-shows-uk-businesses-capitalising-on-chinese-energy-transition","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/new-cbbc-report-shows-uk-businesses-capitalising-on-chinese-energy-transition\/","title":{"rendered":"New CBBC report shows UK businesses capitalising on Chinese energy transition"},"content":{"rendered":"

A new report titled Targeting Net Zero: The Role of UK-China Business, <\/i>authored by members of the China Britain Business Council and KPMG, highlights further opportunities for UK businesses in China as the country transitions towards a low carbon future<\/h2>\n

Focused on five key themes \u2013 Energy<\/a>, Adaption and Resilience<\/a>, Cleaner Transportation<\/a>, Green Finance<\/a>, and Nature<\/a> \u2013 the report sets out key opportunities for business, and case studies of how UK and Chinese firms are already working together to drive the low carbon transition through their investment, their technologies, and their services.<\/p>\n

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Opportunities include London building on its pre-eminent position as a financial services centre and becoming the global centre for carbon trading; how the UK can become a standard-setter for green finance; capacity and technical opportunities for UK expertise across sectors; and opportunities for UK professional services to \u2018export\u2019 their expertise. This is notwithstanding the already strong record of Chinese firms investing in low carbon sectors and initiatives in the UK, bringing mutual benefit, such as sharing of technologies, significant economies of scale, and decreasing the cost of capital.<\/p>\n

\u201cToday\u2019s report shines a light on the importance of strong and positive business and trade relations with China,\u201d says Andrew Seaton, CBBC’s Chief Executive. \u201cBritish firms are already doing important work with and in China in low carbon technologies. But there is much more to do. The world\u2019s eyes are on COP26 in Glasgow. China is currently the world\u2019s largest carbon emitter. Its transition towards a zero-carbon future is critical for the global climate effort. And it is a transition which offers an immense opportunity for UK business. And not just for large companies, but for all British firms \u2013 some of the most innovative in the world \u2013 of all sizes, in all sectors, and across all regions of the UK.\u201d<\/p>\n

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\u201cBritish firms are already doing important work with and in China in low carbon technologies but there is much more to do.” CBBC Chief Executive, Andrew Seaton<\/p><\/div>\n

Amongst case studies demonstrating the opportunities that cooperation between the UK and Chinese businesses presents are Sunamp, London Stock Exchange, CGN, Alexander Dennis, China Resources Power, XAG, Wood Plc, the Met Office and HSBC.<\/p>\n

Red Rock Power Ltd is also among the firms involved thanks to its expertise in offshore wind<\/a>\u00a0. The Edinburgh-based renewables firm was founded by Beijing\u2019s SDIC Power in 2016 and has more than tripled in size since then. The UK has the world\u2019s largest installed capacity in offshore wind, while China last year alone increased its wind capacity by 60% \u2013 enough electricity to power every home in the UK three times over.<\/p>\n