BAKU, Nov 23 2024 (IPS) – 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 function 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 can 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 power 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, firms, and the federal government’s perspective,” he stated.
Hong Kong, the place Chen resides, has strongly dedicated to carbon neutrality. Initiatives embrace selling sustainable gasoline, providing subsidies for energy crops to transition to cleaner power sources, and shifting from conventional fossil fuels to lower-carbon alternate options like pure gasoline.
The Position of Creating Nations
Whereas China and different growing international locations have demonstrated important progress, Chen famous a disparity within the tempo of motion between developed and growing nations. “Frankly talking, I noticed quite a lot of optimistic progress from growing international locations, however developed international locations appear to be taking a extra reserved and conservative strategy,” he noticed.
He counseled Center Jap international locations for his or her progressive power 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, based on Chen, was the progress made below Article 6.4 of the Paris Settlement, which pertains to world carbon markets. “This may very well be a great starting to selling a unified world 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 international locations to contribute extra—each financially and technologically. “Plenty of these new initiatives require financial sources for transformations. Developed international locations 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 usually debated attributable to its large financial system and important world affect. Chen acknowledged China’s challenges, notably post-COVID, however expressed optimism about its potential. “China has a really robust financial basis and might do extra, not simply by way of authorities insurance policies however by mobilizing contributions from completely different sectors of society,” he stated.
Chen emphasised the function 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 targets.
A Message for Local weather Negotiators
When requested about his message for COP29, Chen urged developed international locations to take larger accountability. “Developed nations ought to contribute extra, each monetarily and thru expertise sharing. Local weather motion is for the frequent good; it’s not about particular person international locations however the world as a complete,” he acknowledged.
Chen concluded by expressing satisfaction in China’s efforts, highlighting its proactive strategy and progressive options as a accountable world 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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