China is tightening its grip on global energy power, and it’s not doing it with oil. It’s clean tech. And that lead? JPMorgan Chase says it’s becoming a political weapon. Speaking Thursday at the Bloomberg Sustainable Business Summit, Chuka Umunna, the bank’s global head of sustainable solutions, warned that China is taking its massive investment in green technologies and using it for more than profit. “The world’s second-largest economy is leveraging its early investment into green technologies not just for economic benefit but for geopolitical advantage as well,” Chuka said, according to Bloomberg. Chuka explained that China’s clean energy strategy is no longer just about building an economy, it’s also merging with national security. “The transition to a low-carbon economy and national security are coming closer and closer together,” he said . That transition is looking like a global reshuffle , and Beijing’s position isn’t subtle. Right now, China controls over 70% of the world’s clean-tech manufacturing capacity. China builds, US debates While China keeps building and exporting, the United States is in the middle of a split. President Donald Trump has made it clear he wants energy dominance, but that doesn’t necessarily mean clean. The administration has axed almost all of Joe Biden’s pro-climate policies. Trump has repeatedly pushed fossil fuels front and center, but Chuka said that’s not the full story. “The administration wants energy abundance,” he said, “and to achieve that, you need a kind of all-of-the-above approach.” That “all” includes nuclear and geothermal. At JPMorgan, Chuka said there’s real interest in nuclear energy and geothermal technologies inside Trump’s camp. And it’s not just the executive branch. He said Congress, which rarely agrees on anything, actually has some bipartisan support for different types of hydrogen. That’s partly because artificial intelligence is pushing energy demand higher, and Washington is looking for more sources to meet it. That hasn’t stopped green stocks from wobbling. From late 2020 through 2024, clean energy shares collapsed by 60%. But this year, they’ve made a surprising return. The S&P Global Clean Energy Index is already up around 13% in 2025. Chuka said, “It’s been a very tough ride. But it does look like there are some, at least short-term, signals indicating perhaps we’re now at an inflection point.” Clean energy fights through headwinds The pandemic hangover broke clean tech’s growth engine. High interest rates and inflation slammed capital-heavy projects that needed cheap debt to survive. Chuka said that situation is improving. “Some of the things that have been an impediment for the onward march of green economy stocks, like the higher rates environment, supply chain issues, permitting and planning reforms, there are quite positive signs that some of that will be resolved,” he told the crowd at the summit. Even Trump’s aggressive trade moves might not slow that down. Chuka said any inflation caused by the new tariffs could be softened by monetary policy . JPMorgan’s analysts expect the Bank of England to cut rates twice this year, and they also expect at least one more rate cut from both the European Central Bank and the Federal Reserve. “So that should hopefully help green economy stocks,” he added. Despite pulling out of the Net-Zero Banking Alliance earlier this year, JPMorgan hasn’t left green finance. Chuka said the firm is still one of the biggest players in green investment banking globally. “We made nearly $1 billion in revenue from green transactions or green companies last year,” he said. That’s business, and business is still moving, even as the political winds change. While the U.S. tries to figure out its energy future, China already holds the pieces. From production lines to export control, it’s locked in position. The clean-tech race is no longer just about who can go green faster. It’s about who controls the flow of materials, tech, and power, and right now, that’s China. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
