Energy transition is one of the six core themes of the 14th Summer Davos Forum. At the multi-stakeholder dialogue forum on 'Collaborative Efforts to Promote Energy Transition', how countries take action to accelerate energy transition and provide safe, just, sustainable, and affordable energy has become the focus of attention.

　　Effectively addressing climate change and promoting energy transition is key. Xin Baoan, chairman of State Grid Corporation of China, stated that the most important aspect of promoting energy transition is to advance clean, low-carbon, and efficient energy development. Increasing the proportion of electricity in final energy consumption is crucial for promoting energy transition. 'We are actively promoting activities to replace coal, oil, and gas with electricity, increasing the share of electric energy in final energy consumption. Currently, the share of electric energy in China's final energy consumption has reached 27%, and it will further increase in the future,' said Xin Baoan.

　　The global energy transition is accelerating into the 'fast lane'. According to the '2023 Sustainable Development Financing Report', global energy investment soared to a record $1.1 trillion in 2022, surpassing fossil fuel investment for the first time. The International Energy Agency's latest 'World Energy Investment Report' also shows that by 2023, global energy investment is expected to be about $2.8 trillion, with more than $1.7 trillion allocated to clean energy technologies such as electric vehicles, renewable energy, and storage. Among them, investment in the solar industry in 2023 is expected to exceed that in oil for the first time, with an estimated $380 billion invested in the solar industry throughout the year.

　　'We are willing to strengthen communication and cooperation with the world and various countries to share development achievements,' said Xin Baoan. In the future, cooperation in the development and utilization of green energy and the interconnection of energy infrastructure will be strengthened, energy planning and policy alignment will be reinforced, and joint efforts with enterprises, universities, research institutions, and international organizations will be made to enhance the research of fundamental theories and applied technologies for energy transition, actively participate in the formulation of international standards, and strive to contribute more Chinese wisdom and solutions to promote the global clean and low-carbon energy transition.