China's clean energy drive will create investment opportunities

THE recent UN summit on climate change saw the emergence of an unlikely champion for alternative energy - China, the world's manufacturing powerhouse. The country has introduced measures to cut CO2 emissions and plans to step up investment in natural gas, renewables and energy efficiency.

Chinese Vice-Premier Zhang Gaoli addressed world leaders in September to pledge that firm action would be taken on pollution, including efforts to see emissions peak "as early as possible". This was the first time such a high-ranking Chinese government member mentioned a peak emissions target.

The Climate Summit took place as new research showed that concentration of carbon dioxide in the atmosphere passed the milestone of 400 parts-per-million for the first time in human history in 2013, a symbolic level beyond which damage to the environment is deemed irreversible.