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Gulf Cooperation Council (GCC) countriesChina are keen to use financial capacities (domestic and international) to be directed into diversifying their domestic economies toward a low-carbon environment. Sovereign wealth funds, by virtue of their expansive international reach and nationally oriented objectives, occupy a pivotal position in the decarbonization process. Paradoxically, the successful decarbonization of GCC economies could increase the fossil fuel ties between the Persian Gulf and China. Decarbonizing the domestic electricity mix allows a number of petrostates to increase their fossil fuel exports to China, thereby maximizing the petrodollar revenues. Although China is ideally placed to support the decarbonization endeavor of GCC countries, investment flow data suggests that China’s investments continue to flow primarily into the fossil fuel sector of GCC economies.

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Renewable Energy Transitions, SWFs, and Gulf-China Investment Relations: The Grey/Brown Ties That Bind

  • 章节

  • 发表日期：

    2025年

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  • Juergen Braunstein

摘要

Gulf Cooperation Council (GCC) countriesChina are keen to use financial capacities (domestic and international) to be directed into diversifying their domestic economies toward a low-carbon environment. Sovereign wealth funds, by virtue of their expansive international reach and nationally oriented objectives, occupy a pivotal position in the decarbonization process. Paradoxically, the successful decarbonization of GCC economies could increase the fossil fuel ties between the Persian Gulf and China. Decarbonizing the domestic electricity mix allows a number of petrostates to increase their fossil fuel exports to China, thereby maximizing the petrodollar revenues. Although China is ideally placed to support the decarbonization endeavor of GCC countries, investment flow data suggests that China’s investments continue to flow primarily into the fossil fuel sector of GCC economies.