critical technologies with Chinese characteristics.
Moreover, China will focus on the development
of unconventional natural gas resources like tight
gas, shale gas and natural gas hydrates.
3.7 Strengthen China’s Energy
Security by Improving
Global Energy Governance
3.7.1 Cooperate with and Reform
Existing International
Energy Governance
Organisations
Make sure energy security is in line with countries’
interests. With the strengthening of its global influence, China should participate deeply in global
energy governance systems as soon as possible.
This, to make them more widely representative and
better reflect the interests of developing and emerging countries, thereby promoting a global energy
community with a common future. China should
implement international energy cooperation strategies that integrate multi-level international energy
cooperation partners, diversified international
energy cooperation forms, multi-channel international energy cooperation methods, multi-area
international energy cooperation content and
multi-task international energy cooperation processes to adapt to the changes in the global energy
landscape and meet its own development demand.
High-quality development of China’s energy system
should be promoted while accelerating the global
transition to clean, low-carbon, affordable, efficient,
secure and reliable energy.
3.7.2 Seek G20 Support to Facilitate
the Energy Transition
by Aligning Global Energy
and Climate Governance
Attempts should be made to get the G20 to attach
more importance to the energy transition and
reach agreement on the transition to a low-carbon
and secure energy future. This could be achieved
by the G20 issuing statements and commitments
on energy security and long-term decarbonisation
and by making collective efforts to raise the
ambitions of nationally determined contributions
(NDCs) to reduce greenhouse gas emissions.
Long-term G20 ministerial conferences on
energy should be set up and institutional capacity
built by establishing energy secretariats in relevant international organisations.
3.7.3 Reduce the Risk of Investing
in Partner Countries
to Improve China’s Energy
Security
Over the past decade, China’s Go Out strategy to
encourage its enterprises to invest abroad has
rapidly increased foreign direct investment
(FDI) in overseas energy sectors. In the coming
decade, the Belt and Road Initiative (BRI) will
further channel Chinese capital into energy
resources and infrastructure. It is necessary for
China to ensure good energy sector governance in
those partner countries where it invests. This will
mitigate the risk of instability and underinvestment in those countries, enhancing China’s energy
security as a result. China can also cooperate with
partner countries to support them through the
energy transition, especially by providing access
to China’s low-carbon technologies.
In-depth cooperation on energy between
China and the BRI countries should be
strengthened. Through its cooperation in the
BRI, China plays a unique role in low-carbon
energy, energy security and the energy transition.
A framework for FDI and energy infrastructure
development in clean energy technologies should
be created. At the same time, China should work
with others to enhance the governance and
transparency of energy sector investment.
The way that China invests in countries in the
BRI will be a measure of its commitment to
green and sustainable growth, both at home and
abroad. The risk of investment disputes with host
countries would be minimised by learning from
historical experience, adhering to high standards
of social and environmental governance, and
developing appropriate risk management tools.
3.7.4 Strengthen Global Electricity
Cooperation
One of the principal solutions to achieve power
supply security, reduce curtailment and ensure
26
X. Zhaoyuan and M. Ishwaran
Moreover, China will focus on the development
of unconventional natural gas resources like tight
gas, shale gas and natural gas hydrates.
3.7 Strengthen China’s Energy
Security by Improving
Global Energy Governance
3.7.1 Cooperate with and Reform
Existing International
Energy Governance
Organisations
Make sure energy security is in line with countries’
interests. With the strengthening of its global influence, China should participate deeply in global
energy governance systems as soon as possible.
This, to make them more widely representative and
better reflect the interests of developing and emerging countries, thereby promoting a global energy
community with a common future. China should
implement international energy cooperation strategies that integrate multi-level international energy
cooperation partners, diversified international
energy cooperation forms, multi-channel international energy cooperation methods, multi-area
international energy cooperation content and
multi-task international energy cooperation processes to adapt to the changes in the global energy
landscape and meet its own development demand.
High-quality development of China’s energy system
should be promoted while accelerating the global
transition to clean, low-carbon, affordable, efficient,
secure and reliable energy.
3.7.2 Seek G20 Support to Facilitate
the Energy Transition
by Aligning Global Energy
and Climate Governance
Attempts should be made to get the G20 to attach
more importance to the energy transition and
reach agreement on the transition to a low-carbon
and secure energy future. This could be achieved
by the G20 issuing statements and commitments
on energy security and long-term decarbonisation
and by making collective efforts to raise the
ambitions of nationally determined contributions
(NDCs) to reduce greenhouse gas emissions.
Long-term G20 ministerial conferences on
energy should be set up and institutional capacity
built by establishing energy secretariats in relevant international organisations.
3.7.3 Reduce the Risk of Investing
in Partner Countries
to Improve China’s Energy
Security
Over the past decade, China’s Go Out strategy to
encourage its enterprises to invest abroad has
rapidly increased foreign direct investment
(FDI) in overseas energy sectors. In the coming
decade, the Belt and Road Initiative (BRI) will
further channel Chinese capital into energy
resources and infrastructure. It is necessary for
China to ensure good energy sector governance in
those partner countries where it invests. This will
mitigate the risk of instability and underinvestment in those countries, enhancing China’s energy
security as a result. China can also cooperate with
partner countries to support them through the
energy transition, especially by providing access
to China’s low-carbon technologies.
In-depth cooperation on energy between
China and the BRI countries should be
strengthened. Through its cooperation in the
BRI, China plays a unique role in low-carbon
energy, energy security and the energy transition.
A framework for FDI and energy infrastructure
development in clean energy technologies should
be created. At the same time, China should work
with others to enhance the governance and
transparency of energy sector investment.
The way that China invests in countries in the
BRI will be a measure of its commitment to
green and sustainable growth, both at home and
abroad. The risk of investment disputes with host
countries would be minimised by learning from
historical experience, adhering to high standards
of social and environmental governance, and
developing appropriate risk management tools.
3.7.4 Strengthen Global Electricity
Cooperation
One of the principal solutions to achieve power
supply security, reduce curtailment and ensure
26
X. Zhaoyuan and M. Ishwaran