China Emerges as Global Leader in Clean Energy Deployment, Says BNP Paribas Sustainability Chief

Jane Ambach-Scher, the Global Head of Sustainable Development at Societe Generale, announced that China has become a global leader in clean energy deployment. During her speech at the 2025 Global Sustainable Leaders Conference, held from October 16 to 18 in Shanghai’s Expo Park, she highlighted that China’s scale of solar photovoltaic and electric vehicle applications surpasses the total of all other regions combined.

In the first half of 2025, China’s clean energy generation from sources such as wind and biomass reached new highs, fulfilling the growing demand for electricity. The share of low-carbon resources in power generation has reached an impressive 40%, establishing China as a core engine of the global energy transition. Through the coordination of resources, strategies, and technological innovation, China has significantly reduced the costs of green technologies. For instance, the cost of solar energy has decreased by 89%, and the cost of wind energy has fallen by 70% over the past decade, benefiting the entire world.

Ahead of next month’s United Nations Climate Conference, China submitted a new climate commitment plan, aiming for a 7% to 10% reduction in emissions over the next decade, with a target of reaching a 30% share of non-fossil fuels by 2035. This marks a significant step for the world’s largest emitter as it moves towards a carbon reduction pathway. In the capital markets, the alignment of green finance policies and corporate disclosure requirements in 2025 opens new opportunities for global investors.

In light of these developments, Societe Generale is actively enhancing its partnership with China. Key initiatives include continued collaboration with the Agricultural Bank of China in wealth management, utilizing a wholly-owned asset management platform and cross-border investment services to integrate multiple resources and closely connect with China’s renewable and sustainable finance market to drive this historic transformation.

Below are the highlights of Jane Ambach-Scher’s speech:

Ladies and gentlemen, esteemed guests, colleagues, and leaders in sustainable development,

Thank you for the opportunity to speak at the 2025 Global Sustainable Leaders Conference. I am the Global Head of Sustainable Development at Societe Generale.

It is an honor to share insights, particularly regarding China’s significant contributions. Societe Generale is the largest bank in the Eurozone and a key player in international banking. While we have a strong presence in Europe, many may not realize that our banking history dates back to 1860. Today, we continue to maintain a robust business structure, primarily through our wholly-owned local banks and joint ventures, providing services in asset services, wealth management, hedge funds, and sustainable development initiatives to support both national and global clients.

We have consistently supported sustainable investment, especially in China. We are one of the most active international banks in promoting sustainable development in the region. As a founding member of the Shanghai Green Finance Committee, we collaborate closely with partners and regulatory bodies to advocate for the transition to green finance, striving to develop a robust sustainable finance ecosystem.

As a sustainable investor in a changing world, our global mission is to achieve long-term sustainable returns for our clients. To address the current complex landscape, we have formulated a forward-looking global strategy known as “3E”: successful energy transition, protecting healthy ecosystems, and advocating for greater equity. These key areas enable financial services to create impact and unlock significant opportunities.

Our activities in China are meaningful because they align with China’s strategic ambitions. In addition to being in sync with China’s “3060” carbon peak and carbon neutrality goals, we are also accelerating the energy transition. The goal of a “Beautiful China” aligns perfectly with our aim for a healthy ecosystem. Thus, protecting the planet’s biodiversity is not a cost but a crucial long-term investment. This vision of shared prosperity also resonates with our commitment to equity, ensuring that everyone can participate and that economic development is of high quality.

An excellent example is the ESG wealth management products we recently launched in collaboration with the Agricultural Bank of China.

We need to reduce carbon emissions to limit global warming. China is the global leader in clean energy and has made significant achievements, leading the deployment of renewable energy. The number of solar photovoltaic panels and electric vehicles in use is greater than the total of all other regions combined. In the first half of 2025, clean energy generation reached new heights, including wind and biomass, addressing the growth in electricity demand.

China’s low-carbon resources now account for 40% of global power generation, exceeding the global average of 36%. China has become a massive engine for global energy transition. The country has been coordinating resources and strategies, advancing technological innovation across the entire value chain, and making strides in the cost and efficiency of green technologies. The rapidly decreasing manufacturing costs have led to lower prices for these systems; for example, the average cost of solar energy has dropped by 89%, and wind energy costs have decreased by 70% over the past decade, making clean energy technology more affordable and beneficial for the entire globe. From a market perspective, Chinese capital now constitutes 20% of the global public market, particularly in the fields of clean energy, infrastructure, future mobility, and energy efficiency.

Before the upcoming United Nations Climate Change Conference in Brazil next month, China has submitted a new climate commitment, planning to reduce emissions across the entire economy by 7% to 10% over the next decade. Its commitment for 2035 includes increasing the share of non-fossil fuels to 30% and expanding the global emissions market. While these commitments do not fully meet the goals of the Paris Agreement, the latest nationally determined contributions will guide the world’s largest emitter toward a path of carbon reduction. In terms of capital market regulation, we expect increasing coordination of green finance and corporate disclosure policies in 2025, gradually opening the green finance market to global investors.

As the world’s largest market, China is accelerating the trend of this transformation, and we are committed to driving this transition with capital.

We will continue our collaboration with the Agricultural Bank of China in wealth management. We will also cooperate through our wholly-owned asset management platform, Societe Generale Asset Management, and cross-border investment services. This multi-faceted integration allows us to work closely with China’s renewable and sustainable finance market.

Thank you for the opportunity to speak today. I look forward to continuing discussions and collaborations on these important topics. Thank you!