China’s unprecedented “tsunami” of foreign investment in renewable energy and transport electrification projects since 2023 is turbocharging the global energy transition, according to a report.

The Green capital tsunami report from Climate Energy Finance (CEF), a Sydney-based research group, outlines how China is leading the decarbonisation race.

The report findings reveal how China is leading the world in every aspect of decarbonisation – in R&D, investment, innovation, manufacturing, installation and exports of key clean energy technologies spanning solar, wind, batteries, new energy vehicles, grids, hydro and green hydrogen.

Its domestic cleantech investment is double that of the EU and the US.

Based on investments currently proposed and confirmed, the report calculates that Chinese companies have also committed $109.2bn in outward foreign direct investment across 130 clean technology transactions since the start of 2023.

This capital flow spans Europe, Asia, Africa and South America...