STORY: Australian expert speaks highly of China's green development drive
SHOOTING TIME: Nov. 17, 2023
DATELINE: Nov. 21, 2023
LENGTH: 00:01:33
LOCATION: Canberra
CATEGORY: ECONOMY

SHOTLIST:
1. various of vehicles in Canberra
2. various of solar panel
3. SOUNDBITE (English): WARWICK POWELL, Adjunct professor at the Queensland University of Technology (QUT)

STORYLINE:

Warwick Powell, adjunct professor at the Queensland University of Technology (QUT), has spoken highly of China's green development drive.

Citing the example of green bonds, he explained that the digitalization of global economies and an emphasis on environmental sustainability will be two of the biggest economic growth drivers over the next 20 years and that China is leading the way in both.

SOUNDBITE (English): WARWICK POWELL, Adjunct professor at the Queensland University of Technology (QUT)
"Green finance through instruments such as green bonds, has been flourishing and growing rapidly over the last 10 years.
In fact, China has become one of the world's largest issuers of green bonds and is one of the world's largest markets for green bonds. Green bond instruments enable the pooling of investment resources of capital to target them towards initiatives that can create positive impacts on the environment whilst at the same time creating new economic opportunities.
The combination of green financing, new technologies, and know-how creates a new frontier of economic growth opportunity. 
Modernization had been synonymous with the Western European style of economic development and social institution development. The idea of Chinese modernization strongly suggests that there are many ways towards modernization, and that modernization in itself is not reducible to the Western European ideas alone."

A report published by the Global Energy Monitor, a U.S.-based NGO, in June found that China is on track to produce 1,200 gigawatts (GW) of energy through wind and solar power by 2025, reaching its 2030 goal five years early and making the country the world leader in renewable power.

Xinhua News Agency correspondents reporting from Canberra.
(XHTV)