China continues play a leading role in the clean energy economic expansion.
That’s according to the latest version of the Carbon Clean 200 report from As You Sow and Corporate Knights, which lists the 200 largest publicly traded companies making significant revenue from clean energy.
The report shows 35% of these green firms are based in China, including China Agri-Industries, China Longyuan Power and Huaneng Renewables.
Despite the country’s stock market being less than half the size of the US stock market, it has almost double the number of large clean energy companies, with 71 compared to 41.
The top 10 countries with companies on the list are China, US, Japan, Germany, India, Canada, South Korea, Switzerland, Denmark and Spain.
Some of the companies on the list include Siemens, Toyota, Panasonic, Vestas, DONG Energy, Xinjiang Goldwind Science, Tesla and Samsung.
Overall, the total clean energy revenue of the 200 businesses accounts for roughly 30% of their total income.
In order to be eligible for the list, a firm must have a market share greater than $1 billion (£805 million) and earn more than 10% of total revenue from clean energy sources.
Toby Heaps, CEO of Corporate Knights, said: “The clean energy ‘space-race’ is on and China is in pole position. Whether or not the US can climb out of second place will depend in no small measure on the new administration’s ability to make America green again.”
China plans to invest around 2.3 trillion yuan (£293bn) in renewable energy generation by the end of the decade.