As COP29 attracts to an in depth, voices from numerous 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 worldwide 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, notably for the reason that Paris Settlement. “There’s been a giant, huge achievement for China for the reason that Paris Settlement—lower than 10 years, and you might see the large steps and quite a lot of achievement from the Chinese language authorities,” he famous.
This progress is rooted within the authorities’s dedication to renewable vitality and low-carbon transitions throughout numerous sectors.
Chen described the China Pavilion at COP29 as a hub of innovation, showcasing achievements not simply from Hong Kong but additionally from areas like Guangdong and Shenzhen.
“Plenty of sharing, together with our classes, showcased the progress and achievements from the civilian sector, corporations, and the federal government’s perspective,” he mentioned.
Hong Kong, the place Chen resides, has strongly dedicated to carbon neutrality. Initiatives embrace selling sustainable gasoline, providing subsidies for energy vegetation to transition to cleaner vitality sources, and shifting from conventional fossil fuels to lower-carbon options like pure fuel.
The Position of Growing Nations
Whereas China and different growing nations have demonstrated vital progress, Chen famous a disparity within the tempo of motion between developed and growing nations. “Frankly talking, I noticed quite a lot of constructive progress from growing nations, however developed nations appear to be taking a extra reserved and conservative strategy,” he noticed.
He counseled Center Japanese nations for his or her modern vitality options and substantial investments in inexperienced applied sciences, emphasizing their proactive steps in distinction to some developed nations.
A Name for World Carbon Markets
One of many highlights of COP29, in keeping with Chen, was the progress made beneath Article 6.4 of the Paris Settlement, which pertains to international carbon markets. “This could possibly be a superb starting to selling a unified international carbon market,” he mentioned. Chen believes such a framework would incentivize organizations and nations to scale back carbon emissions, foster collaboration throughout economies.
He additionally underscored the necessity for developed nations to contribute extra—each financially and technologically. “Plenty of these new initiatives require financial sources for transformations. Developed nations have superior applied sciences that might carry vital societal change, however they usually hesitate to share,” he remarked.
China’s Position as a Chief
China’s standing as a growing nation is usually debated because of its huge financial system and vital international affect. Chen acknowledged China’s challenges, notably post-COVID, however expressed optimism about its potential. “China has a really sturdy financial basis and may do extra, not simply by authorities insurance policies however by mobilizing contributions from completely different sectors of society,” he mentioned.
Chen emphasised the position of coastal areas like Guangdong and Shenzhen, that are well-developed and may 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 accountability. “Developed nations ought to contribute extra, each monetarily and thru expertise sharing. Local weather motion is for the widespread good; it’s not about particular person nations however the world as a complete,” he said.
Chen concluded by expressing pleasure in China’s efforts, highlighting its proactive strategy and modern options as a accountable international participant. His reflections underscore the significance of collaboration, innovation, and shared accountability in addressing the local weather disaster—a sentiment echoed throughout COP29 discussions.
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