BAKU, Nov 23 2024 (IPS) – As COP29 attracts to a detailed, voices from various areas have make clear their contributions, challenges, and aspirations in tackling the local weather disaster.
Amongst these voices is Pui Cheong Chen, CEO of Hong Kong High quality Insurance coverage Company and a consultant from Hong Kong, who shared his observations about China’s progress, its position as a world participant, and the expectations from developed nations.
China’s Journey Towards Inexperienced Transition
PC Chen highlighted the numerous strides China has made in combating local weather change, significantly because the Paris Settlement. “There’s been a giant, huge achievement for China because the Paris Settlement—lower than 10 years, and you may see the massive steps and a variety of achievement from the Chinese language authorities,” he famous.
This progress is rooted within the authorities’s dedication to renewable power and low-carbon transitions throughout varied sectors.
Chen described the China Pavilion at COP29 as a hub of innovation, showcasing achievements not simply from Hong Kong but in addition from areas like Guangdong and Shenzhen.
“Loads of sharing, together with our periods, showcased the progress and achievements from the civilian sector, firms, and the federal government’s perspective,” he stated.
Hong Kong, the place Chen resides, has strongly dedicated to carbon neutrality. Initiatives embody selling sustainable gasoline, providing subsidies for energy crops to transition to cleaner power sources, and shifting from conventional fossil fuels to lower-carbon options like pure gasoline.
The Position of Growing Nations
Whereas China and different growing nations have demonstrated important progress, Chen famous a disparity within the tempo of motion between developed and growing nations. “Frankly talking, I noticed a variety of optimistic progress from growing nations, however developed nations appear to be taking a extra reserved and conservative method,” he noticed.
He recommended Center Japanese nations for his or her revolutionary power options and substantial investments in inexperienced applied sciences, emphasizing their proactive steps in distinction to some developed nations.
A Name for International Carbon Markets
One of many highlights of COP29, in line with Chen, was the progress made below Article 6.4 of the Paris Settlement, which pertains to international carbon markets. “This may very well be starting to selling a unified international carbon market,” he stated. Chen believes such a framework would incentivize organizations and nations to cut back carbon emissions, foster collaboration throughout economies.
He additionally underscored the necessity for developed nations to contribute extra—each financially and technologically. “Loads of these new initiatives require financial assets for transformations. Developed nations have superior applied sciences that might deliver important societal change, however they typically hesitate to share,” he remarked.
China’s Position as a Chief
China’s standing as a growing nation is commonly debated as a consequence of its large economic system and important international affect. Chen acknowledged China’s challenges, significantly post-COVID, however expressed optimism about its potential. “China has a really robust financial basis and might do extra, not simply by means of authorities insurance policies however by mobilizing contributions from completely different sectors of society,” he stated.
Chen emphasised the position of coastal areas like Guangdong and Shenzhen, that are well-developed and might spearhead inexperienced transitions. He advocated for incentivizing each state-owned enterprises and personal companies to contribute to local weather objectives.
A Message for Local weather Negotiators
When requested about his message for COP29, Chen urged developed nations to take better duty. “Developed nations ought to contribute extra, each monetarily and thru know-how sharing. Local weather motion is for the widespread good; it’s not about particular person nations however the world as an entire,” he said.
Chen concluded by expressing delight in China’s efforts, highlighting its proactive method and revolutionary options as a accountable international participant. His reflections underscore the significance of collaboration, innovation, and shared duty in addressing the local weather disaster—a sentiment echoed throughout COP29 discussions.
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