Hazem Ben-Gacem, CEO of the asset management firm BlueFive Capital, has praised China's accomplishments in green energy, highlighting that the country possesses a comparatively forward-looking and long-term strategic vision.
In an interview with China Global Television Network (CGTN), Ben-Gacem, who is also the founder of the Abu Dhabi-based company, noted that decades of sustained investment have enabled China to achieve significant success in its energy transition efforts.
"China has a very solid reputation when it comes to its core competencies in the green energy transition, whether that's wind, solar or even hydro. And I think time has proven that in terms of products, in terms of services, the will is there," he said.
Ben-Gacem further emphasized that energy transition has been a priority in China's investments over the past three decades. He added that the country's focus on enhancing manufacturing efficiencies has substantially reduced the cost of solar panel production.
"Energy transition has been in the forefront of China's investment not in the last five or 10 years, but for the last 30 years. The fact that solar panel costs have dropped by over 90 percent over the last 10 years, in large part driven by the manufacturing efficiencies you see here in China -- that is no coincidence. This has been a nation that has taken a long-term perspective far before many others have done," said Ben-Gacem.
China has set for itself "dual carbon" goals of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060, making a rapid green energy transition a key part of meeting these ambitious targets.
China's longer-term perspective drives success in green energy transition: expert
