CGTN Europe took a look at this and also spoke to Marco Alverà the CEO of TES-H2
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00:00Now, energy production is at the heart of the climate change challenge and the push to go green and to go cleaner.
00:10It's also key to finding those solutions to reduce global emissions. Take a look at this.
00:16Burning fossil fuels such as coal, oil and gas to generate electricity is responsible for 75% of global greenhouse gas emissions
00:26and nearly 90% of all carbon dioxide emissions.
00:30The International Renewable Energy Agency says 90% of the world's electricity can and should come from renewable energy by 2050.
00:40The global agency says transitioning from dirty to green energy should not only help tackle climate change but also boost jobs.
00:49Although 5 million jobs in fossil fuel production could be lost by 2030, it's estimated 14 million new ones could be created in developing clean energy.
01:00Coal still dominates China's energy generation mix, but in May last year its share fell from 60 to 53%, the lowest share on record.
01:11Renewables made up 38%, with the solar part of that jumping from 7 to 12%.
01:18Renewable power generation has grown substantially in China over the last two decades.
01:24In 2022, it installed more solar capacity than the US and EU combined.
01:34I've been speaking to energy executives here in Davos about the energy transition and one of those was Marco Alvera.
01:41He's the CEO of green hydrogen company TESH2.
01:45He said that unlike revolutions that have taken place in other sectors, like in cars, think of Tesla, think of BYD, the energy revolution is in the slow lane.
01:56The energy industry is still very analogic, still very old school, pipes and turbines.
02:02And so to deliver the new types of energies, types of energies that have to do with transforming electricity into molecules like for hydrogen,
02:09or transforming batteries into somewhere that we can store energy for long periods of time,
02:15I think that requires a new type of company, an agile company, a smart company that can really partner, that is born with the DNA of partnerships.