00:00transition that must be rapid as well as just. There has to be justice and equity
00:06in this transition. We believe China is in a vital and unique position due to
00:12several things and some of which I will recall and mention today and emphasize.
00:18First of all, we acknowledge that China is the leading producer of renewable
00:24energy technology. It produces 70% of the world's wind and solar
00:31technology. In fact, more than 70%. And as such, it has contributed a lot to
00:38bringing down the price of renewable energy technologies very dramatically
00:44downwards. By itself, it is also responsible for the fastest growing
00:51percentage of renewable energy in the electricity mix compared to any
00:56other country in the world in terms of the rate of growth of renewable energy
01:03in their own electricity mix. So we need to acknowledge that for China. Thirdly, we
01:09also acknowledge that China has a lot of financial resources that it can
01:15potentially invest in renewable energy systems, not only within its country's
01:21borders, but especially in other countries. In fact, we're also already
01:25seeing a lot of Chinese financial flows into Asia, Africa, Latin America, and
01:33across the world.
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